Monro Muffler Brake Inc. updated earnings guidance for the third quarter ended December 26, 2015. Third quarter sales were weaker than expected due to unseasonably warm weather in the northeastern and north central regions of the country, which resulted in lower demand for tires. The company experienced positive comparable store sales in regions not impacted by the warm weather conditions, including positive mid-single digit comparable store sales in its southern markets. As a result, the company now anticipates sales for the third quarter of fiscal 2016 to be approximately $239 million, with comparable store sales declining by approximately 2.5%. The company now expects diluted earnings per share for the third quarter to be $0.46, which includes $0.05 per share of due diligence costs. This compares to the company's previous third quarter expectations for sales of between $247 million to $254 million, comparable store sales growth of 2.0% to 4.0% and earnings per diluted share in the range of $0.53 to $0.58.

The company is maintaining its earnings guidance for the fourth quarter of fiscal 2016, including total sales of $232 million to $240 million, based on a comparable store sales increase of 2% to 4%, and diluted earnings per share of $0.40 to $0.45.