Monro (MNRO) 8-K Monro Muffler Brake, Inc. Announces Record Third Quarter 2010 Financial Results

Exhibit 99.1

CONTACT:	Robert Gross
	Chairman and Chief Executive Officer
	(585) 647-6400
	Catherine D’Amico
	Executive Vice President — Finance
	Chief Financial Officer
	(585) 647-6400
	Investors: Jessica Greenberger
	Media: Diane Zappas
	FD
	(212) 850-5600

FOR IMMEDIATE RELEASE

MONRO MUFFLER BRAKE, INC. ANNOUNCES RECORD THIRD QUARTER 2010
FINANCIAL RESULTS

~ Third Quarter EPS Increased 35.7% to $.38, Above Previously Forecasted Range of $.32 — $.35 ~
~ Third Quarter Sales Up 28.7%, Comparable Store Sales Increased 7.2% ~
~Pretax Income Up 57%~
~ Company Raises Full Year 2010 Estimated EPS Range to $1.53 to $1.56 ~

ROCHESTER, N.Y. — January 28, 2010 —Monro Muffler Brake, Inc. (Nasdaq: MNRO), a leading provider of automotive undercar repair and tire services, today announced record financial results for its fiscal 2010 third quarter ended December 26, 2009.

Third Quarter Results

Sales for the third quarter of fiscal 2010 increased 28.7% to a record $152.7 million compared to $118.7 million for the third quarter of fiscal 2009. Sales were driven largely by strong in-store sales execution across all categories and increased store traffic. Comparable store sales increased 7.2%, on top of a 5.9% comparable store sales increase in the third quarter of the prior year, and in-line with the Company’s previously estimated range of 6% to 8%. By category, comparable store sales increased approximately 13% for alignments, 11% for shocks, 10% for tires, 8% for exhaust, 6% for brakes, and 3% for maintenance services.

The total sales for the quarter included an increase in sales from new stores of $28.8 million. The 26 Autotire stores acquired in June 2009 contributed $8.6 million of the increase, and the 45 Midwest Tire and Tire Warehouse stores acquired in September and October 2009, respectively, contributed $18.7 million of the increase.

Gross margin was 38.3% in the third quarter compared to 38.1% in the prior year quarter and reflects previously implemented price increases, improved labor productivity and leveraging of fixed occupancy costs included in cost of sales. These factors were offset by a continued sales mix shift toward lower margin tire sales mostly driven by the addition of the 71 recently acquired tire stores.

Total operating expenses were $44.3 million, or 29.0% of sales, compared with $35.3 million, or 29.7% of sales, for the same period of the prior year and reflect leveraging of the cost structure on increased sales. Operating income for the quarter increased 43.7% to $14.3 million from $9.9 million in the third quarter of fiscal year 2009. Interest expense was $1.0 million, down from $1.5 million in the prior year’s third quarter.

Net income for the third quarter increased 41.8% to a record $7.9 million compared to $5.6 million for the prior year period. Diluted earnings per share for the quarter increased 35.7% to $.38, above the Company’s previously estimated range of $.32 to $.35, and compared to diluted earnings per share of $.28 in the third quarter of fiscal 2009. Net income for the third quarter reflects an effective tax rate of 40.7% compared with 34.2% for the prior year period. Pre-tax income for the third quarter increased to a record $13.3 million, a 57.1% increase over the prior year period.

The Company added 42 locations through acquisitions and closed one location during the quarter, ending the third quarter of fiscal 2010 with 780 stores.

First Nine Month Results

For the nine-month period, net sales increased 16.3% to a record $417.4 million from $359.0 million in the same period of the prior year. Net income for the first nine months of fiscal 2010 increased 29.8% to a record $27.3 million, or $1.33 per diluted share, compared with $21.0 million, or $1.05 per diluted share in the comparable period of fiscal 2009.

Robert G. Gross, Chairman and Chief Executive Officer stated, “We are very pleased that the momentum we built over the last two years has continued into the second half of fiscal 2010. Our strong results for the third quarter demonstrate that we continue to gain market share and capitalize on favorable macro economic factors, most importantly, continued weak new vehicle sales and dealer closings. Additionally, we are very encouraged by our recent opportunistic, value-added acquisitions, all of which have been accretive to earnings from the start. During the quarter, we continued to focus on our store

execution and to invest in advertising and employee training. These initiatives, coupled with our strong reputation as a trusted service provider, have us on track for our ninth straight year of same store sales increases, with an increase of approximately 7% for the third quarter and year-to-date.”

Company Outlook

Based on year-to-date performance and current business and economic trends, the Company anticipates fourth quarter comparable store sales growth to be in the range of 5% to 7% and diluted earnings per share to be in the range of $.20 to $.23, compared to $.15 for the fourth quarter of fiscal 2009.

For fiscal 2010, the Company continues to expect comparable store sales growth of 6% to 7%. The Company now expects total fiscal 2010 sales in the range of $555 million to $561 million compared to $476 million last year. The Company raised its estimated range for fiscal 2010 diluted earnings per share to $1.53 to $1.56 from its previously estimated range of $1.44 to $1.48, and $1.20 last year. The estimate is based on 20.6 million weighted average shares outstanding.

Mr. Gross concluded, “We have continued to execute well against our business strategy and remain optimistic as we head into the fourth quarter. Our January comparable store sales increased approximately 9%, on top of a very strong 14.6% last January. We are extremely pleased with the performance of our recent acquisitions, which also provide us with an opportunity to convert 53 service stores in New England to our Black Gold format over the next three months. Additionally, we would hope to close acquisition deals by the end of this quarter that would add approximately $20 million in annual sales. As we look to the fourth quarter, we continue to view the current trends in our industry, our business and acquisition opportunities favorably, and are excited about what fiscal year 2011 will bring.”

Webcast and Earnings Conference Call

The Company will host a conference call and audio webcast on January 28, 2010 at 11:00 a.m. Eastern Time. The conference call may be accessed by dialing 877-795-3647 and using the required pass code 4879354. A replay will be available approximately one hour after the recording through Thursday, February 4, 2010 and can be accessed by dialing 888-203-1112. The live conference call and replay can also be accessed via audio webcast at the Investor Info section of the Company’s website, located at www.monro.com. An archive will be available at this website through February 4, 2010.

About Monro Muffler Brake

Monro Muffler Brake operates a chain of stores providing automotive undercar repair and tire services in the United States, operating under the brand names of Monro Muffler Brake and Service, Mr. Tire, Tread Quarters Discount Tires, Autotire and Tire Warehouse. The Company currently operates 778 stores in 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 and Missouri. Monro’s stores provide a full range of services for brake systems, steering and suspension systems, tires, exhaust systems and many vehicle maintenance services.

MONRO MUFFLER BRAKE, INC.
Financial Highlights
(Unaudited)
(Dollars and share counts in thousands)

	Quarter Ended Fiscal December
	2009			2008			% Change
Sales	$	152,729		$	118,680			28.7	%
Cost of sales, including distribution and occupancy costs		94,171			73,465			28.2
Gross profit		58,558			45,215			29.5
Operating, selling, general and administrative expenses		43,531			35,694			22.0
Intangible amortization		374			112
Loss (gain) on disposal of assets		402			(510	)
Total operating expenses		44,307			35,296			25.5
Operating income		14,251			9,919			43.7
Interest expense, net		998			1,536			(35.0	)
Other income, net		(71	)		(99	)		(28.0	)
Income before provision for income taxes		13,324			8,482			57.1
Provision for income taxes		5,417			2,904			86.5
Net income	$	7,907		$	5,578			41.8
Diluted earnings per share	$	.38		$	.28			35.7	%
Weighted average number of diluted shares outstanding		20,779			20,095
Number of stores open (at end of quarter)		780			711

MONRO MUFFLER BRAKE, INC.
Financial Highlights
(Unaudited)
(Dollars and share counts in thousands)

	Nine Months Ended Fiscal December
	2009			2008			% Change
Sales	$	417,408		$	358,961			16.3	%
Cost of sales, including distribution and occupancy costs		243,588			212,456			14.7
Gross profit		173,820			146,505			18.6
Operating, selling, general and administrative expenses		123,836			109,332			13.3
Intangible amortization		705			368			91.6
Loss (gain) on disposal of assets		522			(828	)
Total operating expenses		125,063			108,872			14.9
Operating income		48,757			37,633			29.6
Interest expense, net		4,337			4,648			(6.7	)
Other income, net		(189	)		(360	)		(47.5	)
Income before provision for income taxes		44,609			33,345			33.8
Provision for income taxes		17,289			12,301			40.5
Net income	$	27,320		$	21,044			29.8
Diluted earnings per share	$	1.33		$	1.05			26.7	%
Weighted average number of diluted shares outstanding		20,576			20,062

MONRO MUFFLER BRAKE, INC.
Financial Highlights
(Unaudited)
(Dollars in thousands)

	December 26,		March 28,
	2009		2009
Current assets
Cash	$	4,874	$	3,336
Inventories		85,931		71,443
Other current assets		26,593		26,935
Total current assets		117,398		101,714
Property, plant and equipment, net		203,899		185,061
Other noncurrent assets		100,417		89,976
Total assets	$	421,714	$	376,751
Liabilities and Shareholders’ Equity
Current liabilities	$	91,059	$	71,325
Long-term debt		87,714		97,098
Other long term liabilities		17,760		14,037
Total liabilities		196,533		182,460
Total shareholders’ equity		225,181		194,291
Total liabilities and shareholders’ equity	$	421,714	$	376,751