Monro predicts 4% to 6% store sales growth
Coming off a record first quarter, Monro Muffler Brake Inc. expects to see comparable store sales growth of 4% to 6% for its complete fiscal 2011 year.
Monro's expected sales range for the full year is $625 million to $640 million.
Monro posted record sales of $158.2 million for the first quarter of its fiscal year, a 23.6% increase over the same period last year. The company's comparable store sales increased by 5.1% during that time frame.
The Rochester, N.Y.-based chain's net income for the first quarter totaled a record $13.2 million, up more than 40% vs. the same period last year.
"We remain encouraged by the positive trends we continue to see within our business, as well as our industry," says Monro Chairman and CEO Rob Gross. "We are hopeful about opportunities for further market share expansion in fiscal 2011 as we look opportunisitically for acqusiitions in existing makets."