Monro Discloses Latest Financials
Monro Inc. says its comparable store tire sales were flat during its second fiscal quarter versus the same period last year.
However, the Rochester, N.Y.-based company saw comparable store sales gains in front end/shocks, up 18% year-over-year, and brakes, up 6%.
Overall, for the second quarter of Monro's fiscal year, which ends in March 2026, the firm posted $288.9 million in sales, a decrease of 4.1% on a year-over-year basis.
"This was primarily driven by a reduction in sales from the closure of 145 underperforming stores in the first quarter of fiscal 2026, partially off-set by a 1.1% increase in comparable store sales from continuing store locations," say Monro officials, who add that comparable store sales fell 5.8% in the prior-year period.
Monro's total operating expenses for the second quarter of 2026 totaled $90.4 million or 31.3% of sales, versus $93.2 million during the same period the previous year.
Operating income came to $12.8 million versus operating income of $13.2 million year-over-year.
CEO comments
“The Monro team drove comparable store sales growth again in the second quarter, which has enabled us to report three consecutive quarters of positive comps for the first time in a couple of years," says Peter Fitzsimmons, Monro's president and CEO.
"Further, our business generated an increase in adjusted diluted earnings per share compared to the prior year second quarter. We achieved this through solid gross margin performance, with a gross margin rate that expanded 40 basis points to 35.7% and prudent operating cost control, as reflected in lower store direct costs and good corporate expense control."
He reports that Monro reduced inventory levels for the second quarter in a row, "this time by approximately $11 million, which reflects improved inventory management."
The company expcts to "deliver positive comp store sales in fiscal 2026 and we have a variety of levers to pull that we believe will enable us to achieve meanginfully higher year-over-year adjusted operating income."