Monro Muffler Brake Agrees to Purchasing Agreement With NAPA
16 February 1999
Monro Muffler Brake Agrees to Purchasing Agreement With NAPA
ROCHESTER, N.Y.--February 16, 1999--Monro Muffler Brake, Inc. announced today the signing of a purchasing agreement with the National Automotive Parts Association ("NAPA") of Atlanta, Georgia. Starting March 1, 1999, NAPA will be Monro's first choice for the outside purchase of auto parts at 90% of its locations. The agreement, called 1st Call, will enable Monro to reduce costs on outside purchases through uniform and competitive pricing on all purchases made at NAPA's 530 locations participating in the program. It will also provide Monro marketing opportunities with NAPA at participating NAPA locations. Additionally, 1st Call will streamline the Company's billing process on outside purchases, with electronic data interface, and will provide Monro's automotive technicians with access to NAPA's extensive "in-field" training courses. NAPA is an Atlanta, Georgia based company with 71 Distribution Centers servicing 6200 NAPA Auto Parts Stores.Robert Gross, President and Chief Executive Officer, commented, "1st Call offers a cost-effective method of obtaining out-of-stock materials and ensuring timely and efficient service for our customers. The program will complement our internal inventory management program that serves to reduce purchasing and distribution costs while maintaining core inventory at our store locations."
Monro Muffler Brake operates a chain of stores providing automotive undercar repair services in the United States. The Company currently operates 532 stores and has 14 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 and Michigan. Monro's stores provide a full range of services for exhaust systems, brake systems, steering and suspension systems and many vehicle maintenance services.
Certain statements made above may be forward-looking and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve uncertainties which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties include, but are not necessarily limited to, uncertainties affecting retail generally (such as consumer confidence and demand for auto repair); risks relating to leverage and debt service (including sensitivity to fluctuations in interest rates); dependence on, and competition within, the primary markets in which the Company's stores are located; the need for, and costs associated with, store renovations and other capital expenditures; and the risks described from time to time in the Company's SEC reports which include the report on Form 10K for the fiscal year ended March 31, 1998.