Monro, Inc. Completes Sale of Tires Now Assets to ATD
Monro, Inc. has completed the previously-announced sale of its wholesale tire and distribution assets to American Tire Distributors. Monro’s wholesale tire locations, operating as Tires Now, included seven facilities in Kentucky, North Carolina, South Carolina, and Tennessee which serviced more than 3,500 wholesale customer locations annually. ATD is one of the largest independent suppliers of
ATD to Acquire Monro, Inc.’s Tires Now Distribution Assets
American Tire Distributors (ATD) and Monro, Inc. have entered into a definitive agreement pursuant to which ATD will acquire Monro’s wholesale tire distribution assets, operating under the Tires Now name. Tires Now operates seven facilities across the Southeastern United States, servicing more than 3,500 wholesale customer locations annually. In addition to servicing these wholesale customers,
Monro, Inc. Announces Q3 Fiscal 2022 Financial Results
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
Monro, Inc. Announces Q1 2022 Financial Results
First quarter sales were up 38.4% for a record of $341.8 million, says Monro.
Monro Appoints Matt Henson as Chief HR Officer
The company says Henson brings over 25 years of experience in human resources, leading field-focused human capital management strategies for large retailers.
Monro Publishes Inaugural Corporate Responsibility Report
The company says the report details the actions Monro is taking every day to care for its teammates and customers, make a positive impact on the communities where it operates and act as a good steward of the environment.
Monro Reports 10.4% Sales Decrease for FY 2021
The company says net income for fiscal 2021 was $34.3 million, as compared to $58.0 million in fiscal 2020.
Monro Names New President, CEO
Monro says Michael Broderick brings over 25 years of experience executing profitable growth and business transformation strategies in the aftermarket parts and tire service industry.
Monro to Acquire Mountain View Tire & Service, Inc.
The transaction is expected to add approximately $45 million in annualized sales, representing a sales mix of 70% service and 30% tires.
Monro Reports 13.6% Q3 Sales Decrease YoY
Monro says comparable store sales were down approximately 8% for tires, 16% for alignments, 17% for front end/shocks, 19% for maintenance services and 21% for brakes compared to the prior year period.
Monro Reports 11% Q2 Loss in Sales
The decline in comparable-store sales was primarily driven by reduced store traffic related to the ongoing COVID-19 pandemic and its negative impact on vehicle miles traveled in the second quarter.
Monro CEO Brett Ponton Resigns
Robert Mellor, chairman of Monro’s board, has been named interim CEO while the company engages with a leading executive search firm to identify a successor.