Monro Muffler Brake, Inc. (which has added the term “& Service” to many of its stores reflecting a greater emphasis on routine maintenance) recently released its financial results for the fourth quarter of its fiscal year. Overall sales were down for the quarter ($107.2 million compared with $107.7 million), though the company blamed that primarily on the calendar causing one less selling week in 2008 versus 2007.
The company reported that comparable store sales increased 7 percent for brakes and 1 percent for maintenance. Overall, comparable store sales decreased 5.3 percent, due mainly to declines in exhaust work and alignments.
Net sales for the fiscal year increased 5.3 percent to $439.4 million. Gross margin was flat, at 39.7 percent compared with 39.9 percent for the previous year. Net income was $21.9 million.