ROCHESTER, N.Y. (March 23, 2010) — Monro Mufler Brake Inc. expects to report a comparable store sales increase of about 7.5 percent for the quarter ending March 31, helping push earnings up about 9 percent over previous estimates.
“We are very pleased with our continuing momentum to date in the fourth quarter of fiscal 2010 as we maintained our organic growth and are poised to further expand our market share through our strategy of seeking value-priced transactions,” said Chairman and CEO Robert Gross.
The company expects comparable sales growth of about 11 percent in March after booking increases of 9.4 and 4.3 percent in January and February.
Monro said it expects diluted earnings per share for the quarter to hit 23 to 25 cents, up from 20 to 23 cents reported earlier and 15 cents in the fiscal 2009 fourth quarter.
Monro will release its fiscal 2010 results on May 27. The Rochester-based firm is on target to report sales of nearly $570 million and net income of about $32 million, based on its results through nine months and the latest fourth quarter forecast.
Monro Muffler Brake operates 782 stores providing automotive undercar repair and tire services under the brand names of Monro Muffler Brake and Service, Mr. Tire, Tread Quarters Discount Tires, Autotire and Tire Warehouse.