Monro Inc rises as Q1 results beat expectations
27/07/2022 17:25
** Shares in automotive repair store chain Monro Inc
MNRO.O up ~2% at $46.69
** Set for first day of gains in five sessions, if current
moves hold
** MNRO beats market expectations for Q1 results, boosted by
improved staffing at its stores urn:newsml:reuters.com:*:nASA03HON
** Co's Q1 sales rise 2.3% to $349.5 mln, beating estimates
of $343.5 mln, while adjusted earnings of 42 cents/shr tops
estimates of 32 cents/shr
** However, co is seeing softness in consumer demand in some
locations, resulting in a decrease in preliminary comp store
sales of less than 1% for fiscal July - CEO Mike Broderick
** Including session's gains, stock down ~20% YTD
(Reporting by Deborah Sophia in Bengaluru)
((DeborahMary.Sophia@thomsonreuters.com;))