Monro (MNRO) 10-Q4 Feb 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
Document and Entity Information (USD $)	Dec. 28, 2013	Jan. 24, 2014	Sep. 29, 2012
Document And Entity Information [Abstract]	'	'	'
Document Type	'10-Q	'	'
Document Period End Date	28-Dec-13	'	'
Amendment Flag	'false	'	'
Entity Registrant Name	'MONRO MUFFLER BRAKE INC	'	'
Entity Central Index Key	'0000876427	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Current Fiscal Year End Date	'--03-29	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Well Known Seasoned Issuer	'Yes	'	'
Entity Common Stock Shares Outstanding	'	31,449,326	'
Entity Public Float	'	'	$1,021,500,000
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q3	'	'

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Thousands, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
Current assets	'	'
Cash and equivalents	$4,905	$1,463
Trade receivables	3,158	2,835
Federal and state income taxes receivable	0	2,336
Inventories	124,067	118,210
Deferred income tax asset	14,994	13,154
Other current assets	25,919	28,412
Total current assets	173,043	166,410
Property, plant and equipment	523,708	504,080
Less - Accumulated depreciation and amortization	-245,051	-229,034
Net property, plant and equipment	278,657	275,046
Goodwill	266,497	249,803
Intangible assets	31,414	32,396
Other non-current assets	9,567	10,458
Long-term deferred income tax asset	2,221	5,320
Total assets	761,399	739,433
Current liabilities	'	'
Current portion of long-term debt, capital leases and financing obligations	7,489	6,833
Trade payables	60,144	61,006
Federal and state income taxes payable	642	0
Accrued payroll, payroll taxes and other payroll benefits	17,243	18,302
Accrued insurance	33,140	29,498
Warranty reserves	9,779	9,060
Other current liabilities	14,105	13,431
Total current liabilities	142,542	138,130
Long-term capital leases and financing obligations	80,649	86,962
Long-term debt	112,483	127,847
Accrued rent expense	5,597	6,057
Other long-term liabilities	13,052	11,965
Long-term income taxes payable	2,667	3,430
Total liabilities	356,990	374,391
Commitments	'	'
Shareholders' equity	'	'
Class C Convertible Preferred Stock, $1.50 par value, $.064 conversion value, 150,000 shares authorized; 32,500 shares issued and outstanding	49	49
Common Stock, $.01 par value, 65,000,000 shares authorized; 37,509,042 and 37,327,967 shares issued at December 28, 2013 and March 30, 2013, respectively	375	373
Treasury Stock, 6,073,836 shares at cost	-90,064	-90,064
Additional paid-in capital	139,149	131,460
Accumulated other comprehensive loss	-4,309	-4,043
Retained earnings	359,209	327,267
Total shareholders' equity	404,409	365,042
Total liabilities and shareholders' equity	$761,399	$739,433

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parentheticals) (Unaudited) (USD $)	Dec. 28, 2013	Mar. 30, 2013
Common stock par value	$0.01	$0.01
Common stock authorized	65,000,000	65,000,000
Common shares issued	37,509,042	37,327,967
Treasury stock	6,073,836	6,073,836
Preferred Class C [Member]	'	'
Preferred stock par value	$1.50	$1.50
Preferred stock conversion value	$0.06	$0.06
Preferred stock shares authorized	150,000	150,000
Preferred stock shares issued	32,500	32,500
Preferred stock shares outstanding	32,500	32,500

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Statement of Comprehensive Income	'	'	'	'
Sales	$216,695	$190,437	$628,188	$536,088
Cost of sales, including distribution and occupancy costs	134,371	120,827	385,238	328,515
Gross profit	82,324	69,610	242,950	207,573
Operating, selling, general and administrative expenses	55,398	50,782	169,005	149,331
Operating income	26,926	18,828	73,945	58,242
Interest expense, net of interest income	3,216	1,473	7,074	4,141
Other income, net	-352	-59	-583	-250
Income before provision for income taxes	24,062	17,414	67,454	54,351
Provision for income taxes	8,733	6,159	24,904	19,911
Net income	15,329	11,255	42,550	34,440
Changes in pension, net of tax benefit of $54 and $163 for the quarter and nine months ended fiscal December 2013, respectively	-89	0	-266	0
Comprehensive income	$15,240	$11,255	$42,284	$34,440
Earnings per share	'	'	'	'
Basic	$0.49	$0.36	$1.35	$1.10
Diluted	$0.47	$0.35	$1.31	$1.07

Consolidated_Statements_of_Com1

Consolidated Statements of Comprehensive Income (Parentheticals) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Statement of Comprehensive Income	'	'	'	'
Tax benefit related to changes in pension	$54	$0	$163	$0

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (USD $)	Total	Preferred Stock	Common Stock Member	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings
In Thousands	Total	Preferred Stock	Common Stock Member	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings
Balance beginning at Mar. 30, 2013	$365,042	$49	$373	($90,064)	$131,460	($4,043)	$327,267
Net income	42,550	'	'	'	'	'	42,550
Pension liability adjustment (($429) pre-tax)	-266	'	'	'	'	-266	'
Preferred stock cash dividends	-250	'	'	'	'	'	-250
Common stock cash dividends	-10,358	'	'	'	'	'	-10,358
Tax benefit from exercise of stock options	1,297	'	'	'	1,297	'	'
Exercise of stock options	3,466	'	2	'	3,464	'	'
Stock-based compensation	2,928	'	'	'	2,928	'	'
Balance ending at Dec. 28, 2013	$404,409	$49	$375	($90,064)	$139,149	($4,309)	$359,209

Consolidated_Statement_of_Chan1

Consolidated Statement of Changes in Shareholders' Equity (Parentheticals) (USD $)	3 Months Ended			9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013	Dec. 28, 2013
DividendsCashAbstract	'	'	'	'
Preferred stock cash dividends per common stock equivalent	$0.11	$0.11	$0.11	'
Common stock cash dividends per share	$0.11	$0.11	$0.11	'
Pension liability adjustment - pre-tax	'	'	'	'
Pension liability adjustment - pre-tax	'	'	'	$429

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
Consolidated Statements of Cash Flows (Unaudited) (USD $)	Dec. 28, 2013	Dec. 29, 2012
Cash flows from operating activities	'	'
Net income	$42,550,000	$34,440,000
Adjustments to reconcile net income to net cash provided by operating activities -	'	'
Depreciation and amortization	23,755,000	19,422,000
Gain on bargain purchase	-261,000	0
Loss on disposal of assets	79,000	320,000
Stock-based compensation expense	2,928,000	2,412,000
Excess tax benefits from share-based payment arrangements	-133,000	-270,000
Net change in deferred income taxes	1,513,000	-280,000
Change in operating assets and liabilities:	'	'
Trade receivables	-323,000	-252,000
Inventories	-4,300,000	-1,354,000
Other current assets	2,604,000	-1,383,000
Other non-current assets	2,034,000	596,000
Trade payables	-862,000	8,002,000
Accrued expenses	1,948,000	-742,000
Federal and state income taxes payable	4,275,000	2,813,000
Other long-term liabilities	-11,000	-352,000
Long-term income taxes payable	-763,000	-200,000
Total adjustments	32,483,000	28,732,000
Net cash provided by operating activities	75,033,000	63,172,000
Cash flows from investing activiites:	'	'
Capital expenditures	-21,686,000	-21,066,000
Acquisitions, net of cash acquired	-26,334,000	-145,967,000
Proceeds from the disposal of assets	3,898,000	2,997,000
Net cash used for investing activities	-44,122,000	-164,036,000
Cash flows from financing activities:	'	'
Proceeds from borrowings	234,980,000	284,675,000
Principal payments on long-term debt, capital leases and financing obligations	-255,440,000	-169,112,000
Exercise of stock options	3,466,000	2,075,000
Excess tax benefits from share-based payment arrangements	133,000	270,000
Dividends to shareholders	-10,608,000	-12,739,000
Net cash (used for) provided by financing activities	-27,469,000	105,169,000
Increase in cash	3,442,000	4,305,000
Cash at beginning of period	1,463,000	3,257,000
Cash at end of period	$4,905,000	$7,562,000

Condensed_Consolidated_Financi

Condensed Consolidated Financial Statements	9 Months Ended
Condensed Consolidated Financial Statements	Dec. 28, 2013
Organization Consolidation And Presentation Of Financial Statements Disclosure [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	Note 1 – Condensed Consolidated Financial Statements

	The consolidated balance sheets as of December 28, 2013 and March 30, 2013, the consolidated statements of comprehensive income for the quarters and nine months ended December 28, 2013 and December 29, 2012, the consolidated statements of cash flows for the nine months ended December 28, 2013 and December 29, 2012, and the consolidated statement of changes in shareholders' equity for the nine months ended December 28, 2013, include financial information for Monro Muffler Brake, Inc. and its wholly-owned subsidiary, Monro Service Corporation (collectively, “Monro”, “we”, “us”, “our”). These unaudited, condensed consolidated financial statements have been prepared by Monro. We believe all known adjustments (consisting of normal recurring accruals or adjustments) have been made to fairly state the financial position, results of operations and cash flows for the unaudited periods presented.

	Interim results are not necessarily indicative of results for a full year. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The information included in this Form 10-Q should be read in conjunction with the audited financial statements and notes thereto included in our annual report on Form 10-K for the year ended March 30, 2013.

	We report our results on a 52/53 week fiscal year with the fiscal year ending on the last Saturday in March of each year. The following are the dates represented by each fiscal period reported in these condensed financial statements:

	“Quarter Ended Fiscal December 2013” September 29, 2013 – December 28, 2013 (13 weeks)
	“Quarter Ended Fiscal December 2012” September 30, 2012 – December 29, 2012 (13 weeks)
	“Nine Months Ended Fiscal December 2013” March 31, 2013 – December 28, 2013 (39 weeks)
	“Nine Months Ended Fiscal December 2012” April 1, 2012 – December 29, 2012 (39 weeks)

	Fiscal year 2014, ending March 29, 2014, is a 52 week year.

	Retrospective Adjustments – Purchase Accounting

	During the quarter ended December 2013, we finalized the purchase accounting for several acquisitions that occurred in fiscal year 2013. We retrospectively adjusted the provisional amounts recognized at the acquisition dates to reflect fair value and made adjustments to the March 30, 2013 consolidated balance sheet. See Note 2 – “Acquisitions” for details.

	Recent Accounting Pronouncements

	In February 2013, the Financial Accounting Standards Board issued new accounting guidance for the reporting of amounts reclassified out of accumulated other comprehensive income. This guidance requires companies to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income when applicable, or to cross-reference the reclassifications with other disclosures that provide additional detail about the reclassification made when the reclassifications are not made to net income. This guidance is effective for fiscal years and interim periods beginning after December 15, 2012. The adoption of this guidance in the first quarter of fiscal 2014 did not have an impact on Monro's Consolidated Financial Statements.

	In July 2013, the Financial Accounting Standards Board issued new accounting guidance for income tax presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss or a tax credit carryforward exists. This guidance requires an entity to net its unrecognized tax benefits against the deferred tax assets for all same jurisdiction net operating loss or similar tax loss carryforwards, or tax credit carryforwards. The guidance is to be applied prospectively (with an option to apply retrospectively) and will apply to all unrecognized tax benefits that exist at the effective date. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2013, with early adoption permitted. As we already net our unrecognized tax benefits against the deferred tax assets for all same jurisdiction net operating loss carryforwards, this guidance had no impact on Monro's Consolidated Financial Statements.

	Other recent authoritative guidance issued by the FASB (including technical corrections to the Accounting Standards Codification) and the Securities and Exchange Commission did not, or are not expected to have a material effect on Monro's Consolidated Financial Statements.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 28, 2013
Business Combinations [Abstract]	'
Mergers Acquisitions And Dispositions Disclosures [Text Block]	'
	Note 2 – Acquisitions

	Acquisitions are strategic moves in our plan to fill in and expand our presence in existing and contiguous markets, and leverage fixed operating costs such as distribution and advertising.

	Fiscal 2014

	On November 17, 2013, we acquired six retail tire and automotive repair stores located in Delaware and Maryland and four retail tire and automotive repair stores located in Kentucky from two separate sellers.

	On August 18, 2013, we acquired 10 retail automotive repair stores located in the Washington D.C. metropolitan area from Curry's Automotive Group. These retail automotive repair stores operate under the Curry's/Mr. Tire name.

	The fiscal 2014 acquisitions are not material to the Consolidated Financial Statements and supplemental pro forma information for the current or prior reporting periods has not been presented due to the impracticability of obtaining detailed, accurate or reliable data for the periods the acquired entities were not owned by Monro. These acquisitions were financed through our existing credit facility.

	Fiscal 2013

	On April 1, 2012, we acquired 20 retail tire and automotive repair stores located in Virginia from Kramer Tire Co. (“Kramer”). We finalized the purchase accounting for this acquisition in the fourth quarter of fiscal 2013.

	As part of the acquisition process, the purchase accounting was finalized during fiscal 2014 for the following fiscal 2013 acquisitions.

	On June 3, 2012, we acquired 18 retail tire and automotive repair stores located in North Carolina from Colony Tire Corporation (“Colony”). We finalized the purchase accounting for this acquisition during the first quarter of fiscal 2014.

	On August 12, 2012, we acquired 17 retail automotive repair and tire stores located in Wisconsin and South Carolina from Tuffy Associates Corp. (“Tuffy”). We finalized the purchase accounting for this acquisition during the second quarter of fiscal 2014.

	On October 7, 2012, we acquired five retail tire and automotive repair stores located in New York from Chesley Co. Inc., a former Midas franchise. We finalized the purchase accounting for this acquisition during the third quarter of fiscal 2014.

	On October 14, 2012, we acquired one retail tire and automotive repair store located in Massachusetts from Brothers Tire, Inc. We finalized the purchase accounting for this acquisition during the third quarter of fiscal 2014.

	On November 18, 2012, we acquired 31 retail tire stores located in Indiana, Tennessee and Illinois from Everybody's Oil Corporation. We finalized the purchase accounting for this acquisition during the third quarter of fiscal 2014.

	On December 16, 2012, we acquired 27 retail tire and automotive repair stores located in Indiana and Kentucky and a wholesale operation and warehouse in Kentucky from Ken Towery's Auto Care of Kentucky, Inc. and Ken Towery's Auto Care of Indiana, Inc. We finalized the purchase accounting for this acquisition during the third quarter of fiscal 2014.

	As a result of the final purchase price allocations, certain of the fair value amounts previously estimated were adjusted during the measurement period. These measurement period adjustments related to updated valuation reports and appraisals received from our external valuation specialists, as well as revisions to internal estimates. The changes in estimates include an increase in property, plant and equipment of $4.2 million; an increase in intangible assets of $3.9 million; an increase in the long-term deferred income tax asset of $7.4 million; an increase in the current portion of long-term debt, capital leases and financing obligations of $1.9 million; a decrease in warranty reserves of $.2 million; an increase in long-term capital leases and financing obligations of $28.1 million; and an increase in other long-term liabilities of $.2 million. The measurement period adjustments resulted in an increase to goodwill of $14.5 million.

	The purchase price allocation (shown below) and the March 30, 2013 consolidated balance sheet have been retrospectively adjusted to reflect the purchase accounting measurement period adjustments described above. Additionally, the adjustments did not have a material impact on the current period or any prior period consolidated statements of comprehensive income, and, therefore, prior period consolidated statements of comprehensive income have not been retrospectively adjusted.

	The acquisitions resulted in goodwill related to, among other things, growth opportunities and unidentifiable intangible assets. All of the goodwill is expected to be deductible for tax purposes. We have recorded finite-lived intangible assets at their estimated fair value related to customer relationships, trade names and favorable leases.
	In accordance with accounting guidance on business combinations, we expensed all costs related to the acquisitions in the nine months ended December 29, 2012. The total costs related to the acquisitions were $.6 million and $1.3 million for the three and nine months ended December 29, 2012, respectively. These costs are included in the consolidated statements of comprehensive income primarily under operating, selling, general and administrative expenses.

	The purchase price of the acquisitions has been allocated to the net tangible and intangible assets acquired, with the remainder recorded as goodwill on the basis of estimated fair values, as follows:



		(Dollars in thousands)
	Inventories		$	16,645
	Other current assets			1,214
	Property, plant and equipment			38,531
	Intangible assets			19,920
	Long-term deferred income tax asset			13,030
	Total assets acquired			89,340
	Warranty reserves			3,166
	Other current liabilities			4,338
	Long-term capital leases and financing obligations			43,218
	Other long-term liabilities			4,096
	Total liabilities assumed			54,818
	Total net identifiable assets acquired		$	34,522

	Total consideration transferred		$	144,715
	Less: total net identifiable assets acquired			34,522
	Goodwill		$	110,193
	Intangible assets consist of customer relationships ($8.3 million), trade names ($6.6 million) and favorable leases ($5.0 million). Customer relationships, trade names and favorable leases are being amortized over their estimated useful lives. The weighted average useful lives are approximately six, 17 and 12 years, respectively. The weighted average useful life of all intangible assets is 11 years.
	Sales for the fiscal 2013 acquired entities for the three and nine months ended December 29, 2012 totaled $21.7 million and $42.8 million, respectively for the period from acquisition date through December 29, 2012.

	Supplemental pro forma information for the current or prior reporting periods has not been presented due to the impracticability of obtaining detailed, accurate or reliable data for the periods the acquired entities were not owned by Monro.

We continue to refine the valuation data and estimates related to road hazard warranty, intangible assets, real estate and real property leases for all other fiscal 2013 acquisitions and the fiscal 2014 acquisitions, and expect to complete the valuations no later than the first anniversary date of the respective acquisition. We anticipate that adjustments will continue to be made to the fair values of identifiable assets acquired and liabilities assumed and those adjustments may or may not be material.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Dec. 28, 2013
Earnings Per Share Basic And Diluted [Abstract]	'
Earnings Per Share Text Block	'
	Note 3 – Earnings Per Share

	Basic earnings per common share (EPS) amounts are computed by dividing income available to common shareholders, after deducting preferred stock dividends, by the average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive equivalent securities outstanding.

	The following is a reconciliation of basic and diluted EPS for the respective periods:


			Quarter Ended				Nine Months Ended
			Fiscal December				Fiscal December
				2013		2012		2013		2012
			(Dollars in thousands,
			except per share data)
	Numerator for earnings per common share calculation:
	Net Income		$	15,329	$	11,255	$	42,550	$	34,440
	Preferred stock dividends			-83		-152		-250		-304
	Income available to common stockholders		$	15,246	$	11,103	$	42,300	$	34,136

	Denominator for earnings per common share calculation:
	Weighted average common shares, basic			31,417		31,116		31,369		31,020
	Effect of dilutive securities:
		Preferred stock		760		760		760		760
		Stock options		456		364		438		507
	Weighted average common shares, diluted			32,633		32,240		32,567		32,287
	Basic Earnings per common share:		$	0.49	$	0.36	$	1.35	$	1.1
	Diluted Earnings per common share:		$	0.47	$	0.35	$	1.31	$	1.07
	The computation of diluted EPS excludes the effect of the assumed exercise of approximately 86,000 and 98,000 stock options for the three and nine months ended fiscal December 28, 2013, respectively, and 1,034,000 and 967,000 stock options for the three and nine months ended December 29, 2012, respectively. Such amounts were excluded as the exercise prices of these stock options were greater than the average market value of our Common Stock for those periods, resulting in an anti-dilutive effect on diluted EPS.

Income_Taxes

Income Taxes	9 Months Ended
Income Taxes	Dec. 28, 2013
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure Text Block	'
	Note 4 – Income Taxes

	In the normal course of business, we provide for uncertain tax positions and the related interest and penalties, and adjust our unrecognized tax benefits and accrued interest and penalties accordingly. The total amounts of unrecognized tax benefits were $5.3 million and $5.7 million at December 28, 2013 and March 30, 2013, respectively, the majority of which, if recognized, would affect the effective tax rate. As of December 28, 2013, we had approximately $.3 million of interest and penalties accrued related to unrecognized tax benefits.

	We file U.S. federal income tax returns and income tax returns in various state jurisdictions. Our fiscal 2011 through fiscal 2013 U.S. federal tax years and various state tax years remain subject to income tax examinations by tax authorities.

Fair_Value

Fair Value	9 Months Ended
Fair Value	Dec. 28, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	Note 5 – Fair Value
	Long-term debt had a carrying amount and a fair value of $112.5 million as of December 28, 2013, as compared to a carrying amount and a fair value of $127.8 million as of March 30, 2013. The fair value of long-term debt was estimated based on discounted cash flow analyses using either quoted market prices for the same or similar issues, or the current interest rates offered to Monro for debt with similar maturities.

Supplemental_Disclosure_of_Cas

Supplemental Disclosure of Cash Flow Information	9 Months Ended
	Dec. 28, 2013
Supplemental Cash Flow Information Abstract	'
Cash Flow Supplemental Disclosures Text Block	'
	Note 6 – Supplemental Disclosure of Cash Flow Information

	The following represents non-cash investing and financing activities during the periods indicated:

	Nine Months Ended December 28, 2013:

	In connection with the fiscal 2014 acquisitions, liabilities were assumed as follows:

	Fair value of assets acquired	$	12,184,000
	Goodwill acquired		16,714,000
	Gain on bargain purchase		-261,000
	Cash paid, net of cash acquired		-26,334,000

	Liabilities assumed	$	2,303,000
	Nine Months Ended December 29, 2012:

	In connection with the fiscal 2013 acquisitions, liabilities were assumed as follows:
	Fair value of assets acquired	$	89,340,000
	Goodwill acquired		110,193,000
	Cash paid, net of cash acquired		-144,715,000

	Liabilities assumed	$	54,818,000
	These amounts reflect final purchase accounting adjustments for the fiscal 2013 acquisitions. (See Note 2).

Cash_Dividend

Cash Dividend	9 Months Ended
Cash Dividend	Dec. 28, 2013
DividendsCashAbstract	'
Cash Dividends [Text Block]	'
	Note 7 – Cash Dividend

	In May 2013, our Board of Directors declared its intention to pay a regular quarterly cash dividend during fiscal 2014 of $.11 per common share or common share equivalent to be paid beginning with the first quarter of fiscal 2014. However, the declaration of and any determination as to the payment of future dividends will be at the discretion of the Board of Directors and will depend on our financial condition, results of operations, capital requirements, compliance with charter and credit facility restrictions, and such other factors as the Board of Directors deems relevant.

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Dec. 28, 2013
Business Combinations [Abstract]	'
Schedule Of Purchase Price [Table Text Block]	'


		(Dollars in thousands)
	Inventories		$	16,645
	Other current assets			1,214
	Property, plant and equipment			38,531
	Intangible assets			19,920
	Long-term deferred income tax asset			13,030
	Total assets acquired			89,340
	Warranty reserves			3,166
	Other current liabilities			4,338
	Long-term capital leases and financing obligations			43,218
	Other long-term liabilities			4,096
	Total liabilities assumed			54,818
	Total net identifiable assets acquired		$	34,522

	Total consideration transferred		$	144,715
	Less: total net identifiable assets acquired			34,522
	Goodwill		$	110,193

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Dec. 29, 2012
Earnings Per Share Basic And Diluted [Abstract]	'
Schedule Of Earnings Per Share Basic And Diluted Table Text Block	'

			Quarter Ended				Nine Months Ended
			Fiscal December				Fiscal December
				2013		2012		2013		2012
			(Dollars in thousands,
			except per share data)
	Numerator for earnings per common share calculation:
	Net Income		$	15,329	$	11,255	$	42,550	$	34,440
	Preferred stock dividends			-83		-152		-250		-304
	Income available to common stockholders		$	15,246	$	11,103	$	42,300	$	34,136

	Denominator for earnings per common share calculation:
	Weighted average common shares, basic			31,417		31,116		31,369		31,020
	Effect of dilutive securities:
		Preferred stock		760		760		760		760
		Stock options		456		364		438		507
	Weighted average common shares, diluted			32,633		32,240		32,567		32,287
	Basic Earnings per common share:		$	0.49	$	0.36	$	1.35	$	1.1
	Diluted Earnings per common share:		$	0.47	$	0.35	$	1.31	$	1.07

Supplemental_Disclosure_of_Cas1

Supplemental Disclosure of Cash Flow Information (Tables)	9 Months Ended
Supplemental Disclosure of Cash Flow Information (Tables)	Dec. 28, 2013
Supplemental Cash Flow Information Abstract	'
ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock	'
	Fair value of assets acquired	$	12,184,000
	Goodwill acquired		16,714,000
	Gain on bargain purchase		-261,000
	Cash paid, net of cash acquired		-26,334,000

	Liabilities assumed	$	2,303,000
	Fair value of assets acquired	$	89,340,000
	Goodwill acquired		110,193,000
	Cash paid, net of cash acquired		-144,715,000

	Liabilities assumed	$	54,818,000

Condensed_Consolidated_Financi1

Condensed Consolidated Financial Statements (Details)	9 Months Ended
Condensed Consolidated Financial Statements (Details)	Dec. 28, 2013
Organization Consolidation And Presentation Of Financial Statements Disclosure [Abstract]	'
Company reported results maximum	'53 weeks
Company reported results minimum	'52 weeks
Company reported results current year fiscal quarter	'13 weeks
Company reported results prior year fiscal quarter	'13 weeks
Company reported results current fiscal year to date	'39 weeks
Company reported results prior fiscal year to date	'39 weeks
Company reported results current fiscal year	'52 weeks

Acquisitions_Details

Acquisitions (Details) (USD $)

3 Months Ended

9 Months Ended

Dec. 29, 2012

Dec. 28, 2013

Dec. 29, 2012

Dec. 28, 2013

Dec. 29, 2012

Kramer Acquisition

Colony Acquisition

Tuffy Acquisition

Brothers Acquisition

Chesley Acquisition

Everybody's Oil Acquisition

Towery Acquisition

Curry Acquisition

Delaware and Maryland Stores Acquisitions [Member]

Kentucky Stores Acquisition [Member]

Third Quarter Fiscal 2014 Acquisitions [Member]

numberofstores

numberofsellers

numberofwarehouses

Business Acquisition [Line Items]

Number of stores acquired

Number of sellers

Number of wholesale operations acquired

Number of warehouses acquired

Property, plant and equipment, purchase price adjustment

$4,200,000

Intangible assets, purchase price adjustment

3,900,000

Long-term deferred income tax asset, purchase price adjustment

7,400,000

Current portion of long-term debt, capital leases and financing obligations, purchase price adjustment

1,900,000

Warranty reserves, purchase price adjustment

-200,000

Long-term capital leases and financing obligations, purchase price adjustment

28,100,000

Other long-term liabilities, purchase price adjustment

200,000

Goodwill, purchase price adjustment

14,500,000

Schedule Of Business Acquisitions Purchase Price Allocation [Line Items]

Inventories

16,645,000

Other current assets

1,214,000

Property, plant and equipment

38,531,000

Intangible assets

19,920,000

Long-term deferred income tax asset

13,030,000

Total assets acquired

89,340,000

12,184,000

Warranty reserves

3,166,000

Other current liabilities

4,338,000

Long-term capital leases and financing obligations

43,218,000

Other long-term liabilities

4,096,000

Total liabilities assumed

54,818,000

2,303,000

Total net identifiable assets acquied

34,522,000

Total consideration transferred

144,715,000

26,334,000

Less: total net identifiable assets acquired

34,522,000

Goodwill

110,193,000

Total costs related to acquisitions

600,000

1,300,000

Sales for the fiscal 2013 acquired entities

$21,700,000

$42,800,000

Acquisitions_Additional_Inform

Acquisitions Additional Information (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Dec. 29, 2012
Acquired Finite-Lived Intangible Assets [Line Items]	'
Customer relationships	8.3
Trade names	6.6
Favorable leases	5
All finite lived intangible assets	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Weighted average useful life	'11 years
Trade names	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Weighted average useful life	'17 years
Customer relationships	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Weighted average useful life	'6 years
Favorable leases	'
Acquired Finite-Lived Intangible Assets [Line Items]	'
Weighted average useful life	'12 years

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 28, 2013	Dec. 29, 2012	Dec. 28, 2013	Dec. 29, 2012
Numerator For Earnings Per Share Calculation [Abstract]	'	'	'	'
Net income	$15,329	$11,255	$42,550	$34,440
Preferred stock dividends	-83	-152	-250	-304
Income available to common shareholders	$15,246	$11,103	$42,300	$34,136
Denominator for earnings per common share calculation:	'	'	'	'
Weighted average common shares, basic	31,417	31,116	31,369	31,020
Effect of dilutive securities:	'	'	'	'
Preferred stock	760	760	760	760
Stock options	456	364	438	507
Weighted average number of common shares, diluted	32,633	32,240	32,567	32,287
Basic Earnings per common share:	$0.49	$0.36	$1.35	$1.10
Diluted Earnings per common share:	$0.47	$0.35	$1.31	$1.07
Antidilutive securities excluded from computation of earnings per share	86,000	98,000	1,034,000	967,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Millions, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
Income Tax Uncertainties	'	'
Unrecognized tax benefits	$5.30	$5.70
Interest and penalties accrued related to unrecognized tax benefits	$0.30	'

Fair_Value_Details

Fair Value (Details) (USD $)	Dec. 28, 2013	Mar. 30, 2013
In Millions, unless otherwise specified	Dec. 28, 2013	Mar. 30, 2013
Fair Value Disclosures [Abstract]	'	'
Carrying amount of long-term debt ( including current portion)	$112.50	$127.80
Fair value of long-term debt (including current portion)	$112.50	$127.80

Supplemental_Disclosure_of_Cas2

Supplemental Disclosure of Cash Flow Information (Details) (USD $)	9 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Supplemental Cash Flow [Line Items]	'	'
Fair value of assets acquired	$12,184,000	$89,340,000
Goodwill acquired	16,714,000	110,193,000
Gain on bargain purchase	-261,000	0
Cash paid, net of cash acquired	-26,334,000	-144,715,000
Liabilities assumed	$2,303,000	$54,818,000

Cash_Dividends_Details

Cash Dividends (Details) (USD $)	3 Months Ended
Cash Dividends (Details) (USD $)	Mar. 29, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013
DividendsCashAbstract	'	'	'	'
Common stock cash dividends per share declared	$0.11	$0.11	$0.11	$0.11