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Sep 23, 2023
Monro Q2 2024 Earnings Report
Monro's financial performance was impacted by decreased sales and comparable store sales, while managing to maintain profitability through cost control measures.
Key Takeaways
Monro, Inc. reported a decrease in sales for the second quarter of fiscal year 2024, with comparable store sales also declining. The company's profitability was maintained through cost control measures, despite the challenging macroeconomic environment.
Second quarter sales decreased by 2.3% to $322.1 million.
Comparable store sales decreased by 2.3% due to consumers deferring tire purchases.
Diluted EPS was $.40, and adjusted diluted EPS was $.41.
Gross margin increased 30 basis points due to lower material costs.
Monro
Monro
Forward Guidance
Monro is not providing fiscal 2024 financial guidance at this time but will provide perspective on its outlook for fiscal 2024 during its earnings conference call.