Monro recently announced plans to close 145 of its auto service locations by the end of the month, reports CoStar News.
The company operates 1,308 company-owned and franchised stores, primarily located in the Northeast. Its stores go under names including Monro Auto Service & Tire Centers, Tire Choice, Mr. Tire, Car-X, and more.
Monro has declined to share what stores will be closed, but plans to operate 1,115 company-owned stores by the end of these store closings. The company did not detail plans for its current 48 franchised stores, but said it will focus on opening new stores “in the best locations, without regard to the form of ownership required to develop the locations.”
A decline in sales has been caused by consumer anxiety surrounding inflation, leading to customers putting off more expensive automotive services and not purchasing as many tires.
“We have identified four key areas of focus as opportunities for improvement,” said Monro Chief Executive Officer Peter Fitzsimmons. “These include closing 145 underperforming stores, improving our customer experience and selling effectiveness, driving profitable customer acquisition and activation and increasing merchandising productivity, including mitigating tariff risk.”
