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Dec 26, 2020
Monro Q3 2021 Earnings Report
Monro's third quarter results were impacted by general market conditions and lower labor productivity, but improved performance in December continued into January.
Key Takeaways
Monro, Inc. reported a decrease in sales for the third quarter of fiscal year 2021, with sales decreasing by 13.6% to $284.6 million compared to the same period last year. The decrease was driven by a comparable store sales decline of 13.0%. Net income also decreased to $6.7 million, or $0.20 per diluted share, compared to $18.9 million, or $0.56 per diluted share, in the prior year period.
Third quarter sales decreased 13.6% to $284.6 million.
Comparable store sales declined 13.0% for the quarter.
Operating income decreased to $15.7 million, or 5.5% of sales.
Net income was $6.7 million, or $0.20 per diluted share.
Monro
Monro
Forward Guidance
Due to the ongoing uncertainty caused by COVID-19, the company is not providing fiscal 2021 guidance.