Record Profits & Sales For Monro Muffler, But Projections Scaled Back
Rochester based Monroe Muffler Brake says it saw record profits and sales in its first quarter, although the numbers did come in a bit below Wall Street expectations.
The company saw net profits rise nearly 25 percent to nearly $17 million. Revenues increased 5.5 percent to just over $217 million.
Monro Muffler also announced that it will acquire 35 tire stores in Florida, which is a new state for the Rochester company to be operating in.
Monroe Muffler did scale back its expectations somewhat for its 2015 fiscal year as a whole. Company CEO John Van Heel says that their long term outlook remains positive, but he says in the short term, the economic environment is weighing on consumers’ purchasing behavior.