Monro expects store sales increase
Monro Muffler Brake Inc. expects to post a comparable store sales increase of 7.5% for the fourth quarter of its 2010 fiscal year, more than the company's original projection.
"This estimate is on top of an 11.2% comparable store sales increase in the prior year quarter," say Monro officials.
"We are very pleased with our continuing momentum to date in the fourth quarter as we maintained our organic growth and are poised to further expand our market share through our strategy of seeking value-priced transactions," says Monro Chairman and CEO Robert Gross.
"We are encouraged by our strong sales trends as we achieved comparable store sales increases of 9.4% and 4.3% in January and February, respectively, with March expected to be up approximately 11%."
Monro recently announced plans to aquire the retail assets of Import Export Tire Co., a Latrobe, Pa.-based dealership with five stores. Monro has more than 150 retail tire stores, making it the fourth largest independent tire store chain in the U.S., according to the Modern Tire Dealer 100.