Monro hints at optimistic results
Monro Muffler Brake Inc. says its comparable store sales in the fourth quarter increased between 4% and 5% versus the same period 12 months prior.
The company will post its complete fourth-quarter and fiscal 2005 financial results on May 24.
Monro says it is optimistic for growth in fiscal 2006, based on current visibility and business trends. "The company remains committed to its long-term objectives of approximately 20% top line growth and approximately 15% bottom line growth."
The company also announced it has completed its previously announced acquisition of 10 Mr. Tire retail stores owned by Henderson Holdings Inc. The stores are located in southern Maryland and have combined annual sales of $12.5 million.
The purchase gives Monro 626 company-owned stores operating under the following names: Monro Muffler Brake and Service, Speedy Auto Service by Monro, Mr. Tire and Tread Quarters Discount Tires.
Monro will participate in the Ninth Annual Sidoti & Co. LLC Emerging Growth Institutional Investor Forum on Thursday, April 7, 2005. Its presentation will be posted on the company's Web site, www.monro.com, under the "Investor Relations" heading.