Welcome to our dedicated page for Monro news (Ticker: MNRO), a resource for investors and traders seeking the latest updates and insights on Monro stock.
Monro, Inc. reports news on its U.S. automotive repair and tire service business, which serves passenger cars, light trucks and vans through retail auto-care locations. Company updates commonly address replacement tires, tire-related services, oil changes, parts installation, undercar repair, brakes, exhaust systems, steering, drivetrain, suspension and wheel alignment.
Recurring MNRO news also includes quarterly financial results, comparable-store sales, gross margin, inventory management, store operations, operational improvement initiatives and cash dividend declarations. Governance and corporate updates have included leadership arrangements, investor conference participation, consulting support for operational improvement and a shareholder rights plan.
Monro, Inc. (Nasdaq: MNRO) has appointed Michael Broderick as its new President and CEO, effective April 5, 2021. Broderick brings over 25 years of experience in the automotive aftermarket industry, previously serving at Advance Auto Parts where he drove growth and operational improvements. He aims to enhance Monro's growth strategy while leveraging its strong cash flow and solid balance sheet for expansion opportunities. Interim CEO Robert Mellor will remain as Chairman of the Board, signaling continuity in leadership as Monro seeks to strengthen its market position.
Monro, Inc. (Nasdaq: MNRO) has announced the acquisition of 30 Mountain View Tire & Service stores in California, enhancing its presence in the western U.S. The deal, valued at an expected $45 million in annualized sales, is part of Monro's growth strategy through strategically located acquisitions. This acquisition will expand Monro's footprint to a total of 116 stores in California, contributing to the company’s overall projected annualized sales of $65 million from acquisitions made in fiscal 2021. The transaction is anticipated to close in Q1 of fiscal 2022.
Monro, Inc. (Nasdaq: MNRO) has declared a quarterly cash dividend of $.22 per share on its outstanding common stock. This dividend is payable on March 24, 2021, to shareholders recorded as of March 10, 2021. Headquartered in Rochester, New York, Monro operates a chain of 1,260 company stores across 32 states, focusing on automotive undercar repair and tire services. The company has seen growth through acquisitions and new store openings since its IPO in 1991.
Monro, Inc. (Nasdaq: MNRO) reported third-quarter sales of $284.6 million, down 13.6% year-over-year, with a comparable store sales decline of 13%. The company achieved a year-to-date operating cash flow of approximately $159 million. Despite challenges, including a 400 basis point decrease in gross margin to 33.8%, Monro completed the acquisition of 17 stores in Southern California, expected to generate $20 million in annualized sales. The quarter ended with net income of $6.7 million, compared to $18.9 million the previous year, and diluted EPS decreased to $0.20 from $0.56.
Monro, Inc. (Nasdaq: MNRO) has declared a quarterly cash dividend of $.22 per share on its outstanding shares, including Class C Convertible Preferred Stock. The dividend will be payable on December 22, 2020 to shareholders recorded by December 8, 2020. Monro operates 1,242 company-owned stores and 97 franchised locations across 32 states, specializing in automotive undercar repair and tire services. The company has seen significant growth through acquisitions since its public debut in 1991.
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Monro, Inc. (MNRO) reported Q2 sales of $288.6 million, an 11% decline from $324.1 million the previous year. This was attributed to an 11.4% drop in comparable store sales, affected by the COVID-19 pandemic. Operating income fell to $24.4 million (8.5% of sales), with net income at $12.8 million, down from $20.3 million. Despite challenges, the company generated ~$126 million in operating cash flow, a significant increase from $80 million year-over-year. Monro signed an agreement to acquire 17 stores in Southern California, expected to add ~$20 million in annual sales.
Monro, Inc. (Nasdaq: MNRO) will release its fiscal 2021 second quarter earnings on October 28, 2020. An audio conference call is scheduled for the same day at 8:30 a.m. Eastern Time, which will be accessible by dialing 1-877-425-9470 with passcode 13711783. A replay will be available for two weeks post-call. Monro operates 1,242 company stores and has grown through acquisitions since its inception in 1957.
Monro, Inc. (Nasdaq: MNRO) announced a quarterly cash dividend of $.22 per share on August 18, 2020. This dividend will be paid on September 8, 2020 to shareholders recorded as of August 24, 2020. Monro operates 1,244 stores and other locations across 32 states, providing automotive undercar repair and tire services. Since its inception in 1957, the company has expanded significantly through acquisitions and new store openings. Monro trades on Nasdaq under the symbol MNRO.
Monro, Inc. (Nasdaq: MNRO) announces the resignation of Brett Ponton as President and CEO, effective August 19, 2020. Robert Mellor steps in as Interim CEO while the Board searches for a permanent replacement. Under Mellor's leadership, Monro aims to enhance operational excellence through its Monro.Forward strategy. Leah C. Johnson has been appointed to the Board, bringing extensive experience in corporate communications and marketing. Her appointment strengthens the Board's diversity and expertise, aligning with the company's strategic goals.