Midas to Present at CL King Conference; Reports Continuing Increases in Retail Sales

By: Midas | 3 Shares 118 Reads

ITASCA, Ill., Sep 12, 2011 (BUSINESS WIRE) -- The presentation by Midas, Inc. (NYSE: MDS), at the C L King "Best Ideas" Conference at the Omni Berkshire Place Hotel in New York will be available via webcast on Tuesday, Sept. 13, beginning at 2:45 p.m. ET.

The 25-minute presentation by Alan D. Feldman, Midas' chairman and chief executive officer, and William M. Guzik, executive vice president and chief financial officer, will be accessible at www.wsw.com/webcast/clk9/mds/ or in the corporate events section of the company's website at www.midasinc.com. The presentation will be available on the sites until Oct. 12.

In advance of the presentation, Midas announced that it continues to experience positive retail sales in the United States and Canada.

"The retail trends of the first half of the year have continued into the third quarter, with preliminary results to date in the quarter indicating an increase in comparable shops sales per selling day of 2.4 percent in U.S. Midas shops and 2.6 percent in Canada," Feldman said.

"After a strong start in July, U.S. comparable shop sales increases slowed in August due to the effects of declining consumer confidence and Hurricane Irene along the eastern coast," he said. "Forty Midas shops were closed for a least one day because of storm damage. All of those shops have now re-opened.

"We continue to be encouraged by the company's progress in increasing customer traffic and retail sales at Midas shops, in co-branding of Midas and SpeeDee locations, in performance of company-operated Midas shops and in transitioning under-performing shops to new owners," Feldman said.

Midas is one of the world's largest providers of automotive service, offering brake, maintenance, tires, exhaust, steering and suspension services at nearly 2,300 franchised, licensed and company-owned Midas shops in 14 countries, including more than 1,500 in the United States and Canada. Midas also owns the SpeeDee Oil Change business, with 165 auto service centers in the United States and Mexico.

SOURCE: Midas, Inc.

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