Monro Muffler Brake, Inc. Provides Business Update
ROCHESTER, N.Y., Sept. 22 -- Monro Muffler Brake, Inc. , a leading provider of automotive undercar repair and tire services, today announced that comparable store sales for its second quarter ending September 24, 2005 are expected to reflect an increase of approximately 1% over the prior year quarter. Total sales are expected to be up approximately 8%. September results negatively impacted the quarter's overall comparable store sales performance as consumers presumably deferred a greater amount of discretionary purchases in response to concerns over the weakening economy, including higher gas prices.
Robert G. Gross, President and Chief Executive Officer, commented, "While the consumer may defer automotive repair, eventually those cars will need service in order to operate properly. Therefore, as has been our experience in the past, we believe that we should see an increase in our sales in future months as consumer confidence improves and discretionary purchases rebound."
The Company plans to release its full second quarter results in late October 2005.
As previously announced, the Company will be speaking at the Banc of America Annual Investment Conference on September 22, the Thomas Weisel Partners Consumer Conference on September 27, the RBC Capital Markets Consumer Conference on September 28 and Sidoti & Co. Emerging Growth Institutional Investor Conference on September 29. The presentation that will be used for the aforementioned conferences can be accessed on the Company's website, www.monro.com under the Investor Information link.
Monro Muffler Brake operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, Speedy Auto Service by Monro, Mr. Tire and Tread Quarters Discount Tires. The Company currently operates 626 stores and has 16 dealer locations in New York, Pennsylvania, Ohio, Connecticut, Massachusetts, West Virginia, Virginia, Maryland, Vermont, New Hampshire, New Jersey, North Carolina, South Carolina, Indiana, Rhode Island, Delaware, Maine and Michigan. Monro's stores provide a full range of services for exhaust systems, brake systems, steering and suspension systems, tires and many vehicle maintenance services.