Monro also reported customers trading down to lower priced tires and deferring vehicle maintenance.
Monro announced its financial results, which underscored a decrease in sales, but an improvement from approximately 300 of the company’s small or underperforming stores, for its second quarter which ended Sept. 24. “While our topline results do not fully reflect the good work of all of our teammates, we continued to make progress on our
The Goodyear Tire & Rubber Co. reported a 31% sales increase from a year ago in its second quarter financial results, released last week. In its financial results, Goodyear credited the uptick in sales, which were $5.2 billion in Q2, to the Cooper Tire merger, improvements in price/mix, higher volume and increased sales from other
Monro, Inc. announced financial results for its first quarter, ending June 25, 2022, and reported that sales increased 2.3% to $349.5 million, as compared to $341.8 million for the first quarter of the fiscal year ending March 26, 2022. During the first quarter of fiscal 2023, the company opened three stores and closed four stores.
The Goodyear Tire & Rubber Company release its first-quarter financial report Friday reporting a 40% increase in sales from a year ago, with 2022 Q1 sales at $4.9 billion. Goodyear says the increase was driven by the Cooper Tire merger, improvements in price/mix, higher volume and increased sales from other tire-related businesses. “We delivered our
During Continental’s year-end earnings call on Mar. 9, CEO Nikolai Setzer announced that the company would be suspending tire production at its plant in Kaluga in western Russia. Setzer said, “We have made this decision as a result of the war” and promised support for not only the 1,300 employees affected by the closure but
Goodyear Tire & Rubber reported huge gains in 2021, turning last year’s Cooper Tire acquisition into a boost that helped the company achieve a 42% net sales increase over 2020. Despite rising inflation and supply chain challenges plaguing the industry, Goodyear cashed in a cool $17.5 billion. However, Goodyear stock prices dipped by about a
Monro, Inc. announced its third-quarter financial results this week, reporting a 20% increase in sales from $341.8 million compared to $284.6 million for the third quarter of the fiscal year ended March 27, 2021. Growth in the company’s third quarter, which ended December 25, 2021, was attributed to Monro’s strong cash flow, its teammates, and
Goodyear’s second-quarter 2021 sales were $4 billion, up 86% from a year ago, and benefitted from higher volumes, increased sales and the Cooper Tire merger.
First quarter sales were up 38.4% for a record of $341.8 million, says Monro.
Sales revenue in original equipment tires increased as growth in China more than offset declines in Japan and in North America, the company says.
The increase in expenses in the first quarter of 2021 included costs associated with the proposed merger with Goodyear.