Monro Q1 sales up 2.3% to $349.5M, EPS $0.37; COO role eliminated, Rajkowski to depart

MONRO, INC.

2023-Q1 EPS reported $0.37 revenue$349,535,000

Sales $349.5M (+2.3% YoY); comparable store sales up 0.4%; retail comps up 2.8% driven by 15% increase in ~300 small/underperforming stores.
Diluted EPS $0.37; adjusted diluted EPS $0.42; gross margin down 180 bps to 35.0% due to technician wage investments.
Completed divestiture of wholesale/tire distribution assets for ~$102M in June; record operating cash flow ~$77M.
Repurchased ~414K shares for $17M at avg price $41.60.
Eliminated COO role; Robert J. Rajkowski departs July 31, 2022; separation payments per prior agreement.

item 2.02 item 5.02 item 9.01

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Departed

Robert J. Rajkowski

Chief Operating Officer

MNRO · MONRO, INC.

Effective: 2022-07-31
Filed: July 27, 2022, 7:59 PM ET

the Company announced the elimination of the role of Chief Operating Officer. As a result of this position elimination, Robert J. Rajkowski will leave the Company as of July 31, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Robert J. Rajkowski departed as Chief Operating Officer at MONRO, INC..

Action: departure
Role: Chief Operating Officer

Exact text from the filing

the Company announced the elimination of the role of Chief Operating Officer. As a result of this position elimination, Robert J. Rajkowski will leave the Company as of July 31, 2022.

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MONRO, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-203456

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