Monro Muffler Brake Inc. reported an 8.3-percent increase in net sales for the first quarter, primarily on a 7-percent jump in maintenance services and a 6-percent gain in comparable store tire sales.
Rochester-based Monro reported record sales of $94.6 million, up from $87.3 million for the same period last year. Net income rose to $7.75 million from $6.84 million.
Comparable store sales grew 1.7 percent, while new stores contributed $7 million to sales. The automotive service chain opened two new stores and closed three others, ending the quarter with 625 stores.
Monro expects to report annual sales of $375 million to $385 million this year with earnings in the range of $1.52 to $1.60 per share.