Monro, Inc. Appoints John L. Auerbach and Lindsay N. Hyde to Board of Directors, and Announces Corporate Name Change

ROCHESTER, N.Y., Aug. 21, 2017 (GLOBE NEWSWIRE) — Monro, Inc. (Nasdaq:MNRO), a leading provider of automotive undercar repair and tire services, today announced the appointment of John L. Auerbach and Lindsay N. Hyde to its Board of Directors, effective August 15, 2017.

John L. Auerbach, 39, brings extensive knowledge and operational experience in digital marketing and eCommerce to Monro, having served in a number of leadership and advisory roles for retail and eCommerce companies. Mr. Auerbach is the Founder and Chairman of Eloquii, a digitally-native direct to consumer women’s fashion brand. For the past five years, he has also been a partner of Auerbach Advisers, a digital advisory firm focused on retail clients. Mr. Auerbach previously served as the Senior Vice President of Digital & Global eCommerce of Kate Spade & Company. In addition, from 2012 to 2016, Mr. Auerbach was the International Managing Director of Digital & eCommerce Initiatives at Christie’s Inc., where he was responsible for launching the company’s eCommerce business globally. Prior to joining Christie’s, Mr. Auerbach served as a member of the founding team of Gilt Groupe and the President of Gilt’s men’s business. Mr. Auerbach holds a B.A. from Duke University and an M.B.A from the Columbia Business School.

Lindsay N. Hyde, 35, brings significant experience in service delivery, an entrepreneurial approach and strong commitment to community engagement to Monro. She is the Founder and Chief Executive Officer of Baroo, a provider of pet-related amenities in multifamily communities in large urban markets across the U.S. Prior to founding Baroo, she was the Founder of Strong Women, Strong Girls, a nationally recognized mentoring organization, serving as Executive Director from 2004 to 2012. Ms. Hyde has also served as an Elected Director of the Harvard Alumni Association and as a director of Coca-Cola Scholars Alumni Foundation, and currently serves as a Global Shaper with the World Economic Forum. Ms. Hyde holds a B.A. from Harvard University and an M.B.A from the Harvard Business School.

Both Mr. Auerbach and Ms. Hyde were appointed to the Company’s Board of Directors as Class 1 Directors, all of whom will be up for re-election by the Company’s shareholders at the next annual meeting in August 2018. In addition, Mr. Auerbach and Ms. Hyde were both determined by the Company’s Board of Directors to be independent within the meaning of the independent director standards of the Securities and Exchange Commission and the Nasdaq Stock Market, Inc.

Robert Mellor, the Company’s Independent Chairman, stated, “We are pleased to have John and Lindsay join our Board of Directors. With John’s digital marketing and eCommerce expertise and Lindsay’s recognized expertise in service delivery, their experience and insights will be invaluable in guiding our Company as we continue to execute on our long-term strategy and capitalize on the opportunities we see in the marketplace.”

In addition, at this year’s annual meeting of shareholders, held on August 15, 2017, shareholders approved the proposal to change the Company’s name from Monro Muffler Brake, Inc. to Monro, Inc. effective immediately. The name change represents a milestone in the Company’s history, as Monro celebrates its 60th anniversary and crossed the $1 billion sales mark for the first time this year. This change reflects the evolution of Monro’s business model to providing a full range of high quality automotive services and repairs, as well as tires to a broad range of customers. The name change will apply to its corporate entity only and will not affect any of the Company’s store brand names.

About Monro, Inc.

Headquartered in Rochester, New York, Monro is a chain of 1,140 Company-operated stores, 106 franchised locations, five wholesale locations and two retread facilities providing automotive undercar repair and tire sales and services. The Company operates in 27 states, serving the Mid-Atlantic and New England states and portions of the Great Lakes, Midwest and Southeast. The predecessor to the Company was founded by Charles J. August in 1957 as a Midas Muffler franchise. In 1966, Monro began to diversify into a full line of undercar repair services. The Company has experienced significant growth in recent years through acquisitions and, to a lesser extent, the opening of new construction stores. The Company went public in 1991 and trades on NASDAQ under the symbol MNRO.

CONTACT:

John Van Heel
Chief Executive Officer
(585) 647-6400

Brett Ponton
President
(585) 647-6400

Brian D’Ambrosia
Senior Vice President – Finance
Chief Financial Officer
(585) 647-6400

Investors and Media: Effie Veres
FTI Consulting
(212) 850-5600

francesca’s® Announces Departure of EVP and Chief Merchandising Officer

  • Company Commences Search for New Chief Merchant
  • Company Provides Preliminary Second Quarter Results

HOUSTON, Aug. 21, 2017 (GLOBE NEWSWIRE) — Francesca’s Holdings Corporation (NASDAQ:FRAN) today announced the departure of Laurie Hummel, EVP and Chief Merchandising Officer.  The Company has commenced a search for a new Chief Merchant. 

Steve Lawrence, President and CEO, stated, “We have a lot of talent in our merchandising team and are confident in their ability to execute our strategy as we search for a new Chief Merchant.  During this period, the team will report directly to me. We wish Laurie well in her future endeavors.”   

Preliminary Second Quarter Results

Preliminary comparable sales for the fiscal second quarter ended July 29, 2017, decreased 3% and preliminary diluted earnings per share for the second quarter is expected to be $0.20. 

Mr. Lawrence continued, “We are pleased to have exceeded our second quarter EPS guidance, driven by better than expected merchandise margin and lower than expected SG&A. That said, we note that back-to-school has been off to a very challenging start and our comparable sales have further decelerated from July.  We will provide additional detail on our second quarter performance, as well as discuss our third quarter and full year outlook, on our upcoming earnings call.”

A conference call to discuss second quarter results and third quarter and full year expectations is scheduled for September 6, 2017, at 8:30 a.m. ET.

Please note these results are preliminary and subject to change. The Company and its external auditors have not completed their normal quarterly closing and related review procedures and there can be no assurance that final results for the quarter will not differ from the preliminary results, including as a result of quarter-end closing procedures or review adjustments. In addition, these preliminary results should not be viewed as a substitute for full interim financial statements prepared in accordance with GAAP that have been reviewed by the Company’s external auditors.

Forward-Looking Statements

Certain statements in this release are “forward-looking statements” made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements reflect our current expectations or beliefs concerning future events and are subject to various risks and uncertainties that may cause actual results to differ materially from those that we expected. These risks and uncertainties include, but are not limited to, the following: the risk that we cannot anticipate, identify and respond quickly to changing fashion trends and customer preferences or changes in consumer environment, including changing expectations of service and experience in boutiques and online, and evolve our business model; our ability to attract a sufficient number of customers to our boutiques or sell sufficient quantities of our merchandise through our ecommerce business; our ability to successfully open and operate new boutiques each year; our ability to efficiently source and distribute additional merchandise quantities necessary to support our growth; and our ability to successfully attract, hire and integrate our next Chief Merchant. For additional information regarding these and other risks and uncertainties that could cause actual results to differ materially from those contained in our forward-looking statements, please refer to “Risk Factors” in our Annual Report on Form 10-K for the year ended January 28, 2017 filed with the Securities and Exchange Commission (“SEC”) on March 22, 2017 and any risk factors contained in subsequent quarterly and annual reports we file with the SEC. We undertake no obligation to publicly update or revise any forward-looking statement.

About Francesca’s Holdings Corporation

francesca’s® is a growing specialty retailer which operates a nationwide-chain of boutiques providing customers a unique, fun and personalized shopping experience.  The merchandise assortment is a diverse and balanced mix of apparel, jewelry, accessories and gifts. Today francesca’s® operates approximately 679 boutiques in 48 states and the District of Columbia and also serves its customers through francescas.com. For additional information on francesca’s®, please visit www.francescas.com.

CONTACT:
ICR, Inc.         
Jean Fontana   
646-277-1214 

Company
Kelly Dilts 832-494-2236
Kate Venturina 832-494-2233
IR@francescas.com

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Monro, Inc. Declares Quarterly Cash Dividend

ROCHESTER, N.Y., Aug. 21, 2017 (GLOBE NEWSWIRE) — Monro, Inc. (Nasdaq:MNRO), a leading provider of automotive undercar repair and tire services, today announced that its Board of Directors has declared a quarterly cash dividend of $.18 per share on the Company’s outstanding shares of common stock, including the shares of common stock to which the holders of the Company’s Class C Convertible Preferred Stock are entitled. The dividend is payable on September 7, 2017 to shareholders of record at the close of business on August 28, 2017. 

About Monro, Inc.

Headquartered in Rochester, New York, Monro is a chain of 1,140 Company-operated stores, 106 franchised locations, five wholesale locations and two retread facilities providing automotive undercar repair and tire sales and services. The Company operates in 27 states, serving the Mid-Atlantic and New England states and portions of the Great Lakes, Midwest and Southeast. The predecessor to the Company was founded by Charles J. August in 1957 as a Midas Muffler franchise. In 1966, Monro began to diversify into a full line of undercar repair services. The Company has experienced significant growth in recent years through acquisitions and, to a lesser extent, the opening of new construction stores. The Company went public in 1991 and trades on NASDAQ under the symbol MNRO.

CONTACT:
John Van Heel
Chief Executive Officer
(585) 647-6400
                              
Brett Ponton
President
(585) 647-6400

Brian D’Ambrosia
Senior Vice President – Finance
Chief Financial Officer
(585) 647-6400                              

Investors and Media: Effie Veres
FTI Consulting
(212) 850-5600