Monro soars after Q3 sales beat

Monro

25/01/2023 16:33

** Shares of automotive repair stores operator Monro Inc
 MNRO.O  rise 6.9% to $48.07; their biggest pct jump in 8 months
if gains hold
    ** MNRO reports Q3 FY23 revenue of $335.2 mln, down 1.9%
from a year earlier, but higher than analysts' expectation of
$330.88 mln - Refinitiv
    ** Co says revenue decreased due to divestiture of wholesale
tire and distribution assets in Q1 fiscal 2023
    ** Comparable store sales rose 5.6%    
    ** Co's quarterly adjusted earnings of 43 cents​​ per share,
in line with analysts' estimates 
    ** Stock fell ~22% last year
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))