Profile: Monro Muffler Brake Inc (MNRO.OQ)
12 Dec 2013
Monro Muffler Brake, Inc. (Monro), incorporated on October 5, 1959, is engaged principally in providing automotive undercar repair and tire services in the United States. Monro had 937 Company-operated stores, three franchised locations and 14 dealer-operated automotive repair centers located primarily in the northeast and Great Lakes regions of the United States. As of March 30, 2013, Monro operated Company stores in 22 states, including New York, Pennsylvania, Ohio, Connecticut, Massachusetts, West Virginia, Virginia, Maryland, Vermont, New Hampshire, New Jersey, North Carolina, South Carolina, Indiana, Rhode Island, Delaware, Maine, Illinois, Missouri, Wisconsin, Tennessee and Kentucky primarily under the names Monro Muffler Brake & Service, Tread Quarters Discount Tire, Mr. Tire, Autotire Car Care Center, Tire Warehouse, Tire Barn Warehouse and Ken Towery’s Tire & Auto Care (together, the Company Stores).During the fiscal year ended March 30, 2013(fiscal 2013), the Company Stores serviced approximately 4.7 million vehicles. On December 30, 2012, the Company acquired 12 retail tire and automotive repair stores located in Ohio from Enger Auto Service Mentor, Inc. and acquired nine retail tire and automotive repair stores located in North Carolina from Tire King of Durham, Inc.
The Company provides a 1 range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems; steering, drive train, suspension and wheel alignment. Monro also provides other products and services including tires and routine maintenance services including state inspections. Monro specializes in the repair and replacement of parts which must be periodically replaced as they wear out. Normal wear on these parts generally is not covered by new car warranties. Monro typically does not perform under-the-hood repair services except for oil change services, various flush and fill services and some minor tune-up services.
The format for a Monro store is a free-standing building consisting of a sales area, fully-equipped service bays and a parts/tires storage area. In BJ’s locations, Monro and BJ’s both operate counters in the sales area, while Monro operates the service bay area.The service bays are equipped with above-ground electric vehicle lifts. The typical store provides a full range of undercar repair services for brakes, steering, mufflers and exhaust systems, drive train, suspension and wheel alignment, as well as tire replacement and service. These services apply to all makes and models of domestic and foreign cars, light trucks and vans. Stores generally provide many of the routine maintenance services, which automobile manufacturers suggest or require in the vehicle owners’ manuals, and which fulfill manufacturers’ requirements for new car warranty compliance.
The Company offers Scheduled Maintenance services in its stores whereby the aforementioned services are packaged and offered to consumers based upon the year, make, model and mileage of each specific vehicle. Included in maintenance services are oil change services, heating and cooling system flush and fill service, belt installation, fuel system service and a transmission flush and fill service. Additionally, stores replace and service batteries, starters and alternators. Stores in New York, West Virginia, New Hampshire, Maryland, Rhode Island, New Jersey, Pennsylvania, North Carolina, Virginia, Missouri, Maine, Vermont and Wisconsin perform annual state inspections. Approximately 55% of its stores also offer air conditioning services.
The Company competes with TBC Corporation, Firestone and Meineke Discount Mufflers Inc.
Monro Muffler Brake Inc
200 Holleder Parkway
ROCHESTER NY 14615-3808