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Jun 27, 2020
Monro Q1 2021 Earnings Report
Monro's Q1 2021 financial results were announced, showing a decrease in sales and earnings per share due to the COVID-19 pandemic.
Key Takeaways
Monro, Inc. reported a decrease in sales by 22.1% to $247.1 million compared to the previous year, with a diluted EPS of $0.09. The decline was primarily due to a decrease in traffic related to the COVID-19 pandemic, though monthly comparable store sales improved sequentially throughout the quarter. The company completed the rollout of its Amazon.com collaboration and closed 36 stores as part of its portfolio optimization.
First quarter sales decreased 22.1% to $247.1 million.
Diluted EPS was $0.09, including $0.06 of store closing costs.
Completed rollout of Amazon.com tire installation services across store base.
Completed planned closure of 42 stores as part of portfolio optimization.
Forward Guidance
Due to the ongoing uncertainty caused by COVID-19, it remains difficult to accurately predict the full impact of the pandemic on overall demand and Monro’s operations for the remainder of the year. Therefore, the Company is not providing fiscal 2021 guidance at this time.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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