earnings
confidence high
sentiment negative
materiality 0.65
Monro Q1 sales fall 4.6% to $287.1M; operating income turns positive but adjusted income drops 84%
MONRO, INC.
- Sales $287.1M, down 4.6% YoY; comparable store sales down 1.7%.
- Operating income $3.7M (1.3% of sales) vs operating loss of $6.1M in prior year.
- Adjusted operating income $2.2M (0.8% of sales) vs $14.0M (4.7% of sales) in prior year.
- Gross margin down 50 bps; operating expenses decreased due to lower store closing costs.
- Comparable store sales: batteries +8%, front end/shocks +1%, tires -1%, brakes -1%, maintenance -5%.