Monro and Midas indicate soft industry conditions

Last week two of the nation's leading repair shop chains, Midas International and Monro Muffler & Brake (which originally began as a Midas franchise) issued press releases saying demand for vehicle repairs are sluggish. 

Specifically,

"The strong gains we are seeing in the new services of tires, maintenance and fleet are not enough to offset the continuing double-digit declines in the exhaust business and the aggressive competition we are facing in the brake category."

Source: Alan Feldman, CEO, Midas, September 17, 2007

"Comparable store sales for September have been weaker than expected and are currently projected to decrease by 1% for the month. The ...

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