Monro (MNRO) 10-Q 5 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 27, 2014	Jan. 23, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	27-Dec-14
Amendment Flag	FALSE
Entity Registrant Name	MONRO MUFFLER BRAKE INC
Entity Central Index Key	876427
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	-25
Entity Filer Category	Large Accelerated Filer
Entity Well Known Seasoned Issuer	Yes
Entity Common Stock Shares Outstanding		31,660,756
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Dec. 27, 2014	Mar. 29, 2014
In Thousands, unless otherwise specified
Current assets
Cash and equivalents	$4,622	$1,205
Trade receivables	3,218	2,728
Federal and state income taxes receivable	0	2,171
Inventories	136,436	124,920
Deferred income tax assets	14,131	13,710
Other current assets	26,187	23,382
Total current assets	184,594	168,116
Property, plant and equipment	580,541	531,505
Less - Accumulated depreciation and amortization	-263,709	-249,622
Net property, plant and equipment	316,832	281,883
Goodwill	345,743	270,039
Intangible assets	35,342	29,371
Other non-current assets	12,608	10,547
Long-term deferred income tax assets	14,172	0
Total assets	909,291	759,956
Current liabilities
Current portion of long-term debt, capital leases and financing obligations	8,596	7,552
Trade payables	67,581	53,321
Federal and state income taxes payable	4,875	0
Accrued payroll, payroll taxes and other payroll benefits	15,678	20,206
Accrued insurance	33,966	32,353
Warranty reserves	10,438	9,557
Other current liabilities	14,238	13,752
Total current liabilities	155,372	136,741
Long-term capital leases and financing obligations	127,748	81,199
Long-term debt	146,549	105,841
Accrued rent expense	5,360	5,700
Other long-term liabilities	12,626	11,558
Deferred income tax liabilities	0	140
Long-term income taxes payable	3,256	2,793
Total liabilities	450,911	343,972
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; 37,794,539 and 37,567,902 shares issued at December 27, 2014 and March 29, 2014, respectively	378	376
Treasury Stock, 6,169,453 and 6,076,951 shares at December 27, 2014 and March 29, 2014, respectively, at cost	-95,009	-90,241
Additional paid-in capital	152,074	141,365
Accumulated other comprehensive loss	-3,320	-3,135
Retained earnings	404,208	367,570
Total shareholders' equity	458,380	415,984
Total liabilities and shareholders' equity	$909,291	$759,956

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parentheticals) (Unaudited) (USD $)	Dec. 27, 2014	Mar. 29, 2014
Common stock par value	$0.01	$0.01
Common stock authorized	65,000,000	65,000,000
Common shares issued	37,794,539	37,567,902
Treasury stock	6,169,453	6,076,951
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. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 2013
Statements of Comprehensive Income
Sales	$236,553	$216,695	$675,358	$628,188
Cost of sales, including distribution and occupancy costs	146,357	134,371	405,667	385,238
Gross profit	90,196	82,324	269,691	242,950
Operating, selling, general and administrative expenses	62,237	55,398	183,395	169,005
Operating income	27,959	26,926	86,296	73,945
Interest expense, net of interest income	2,929	3,216	7,837	7,074
Other income, net	-506	-352	-811	-583
Income before provision for income taxes	25,536	24,062	79,270	67,454
Provision for income taxes	9,550	8,733	30,022	24,904
Net income	15,986	15,329	49,248	42,550
Other comprehensive loss:
Changes in pension, net of tax benefit	-62	-89	-185	-266
Comprehensive income	$15,924	$15,240	$49,063	$42,284
Earnings per share
Basic	$0.50	$0.49	$1.55	$1.35
Diluted	$0.49	$0.47	$1.50	$1.31

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Shareholders' Equity (USD $)	Total	Preferred Stock	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings
In Thousands, unless otherwise specified
Balance beginning at Mar. 29, 2014	$415,984	$49	$376	($90,241)	$141,365	($3,135)	$367,570
Net income	49,248						49,248
Other comprehensive loss:
Pension liability adjustment (($297) pre-tax)	-185					-185
Cash dividends:
Preferred stock cash dividends	-296						-296
Common stock cash dividends	-12,314						-12,314
Stock issuance costs	-14				-14
Tax benefit from exercise of stock options	948				948
Exercise of stock options	2,124		2	-4,768	6,890
Stock-based compensation	2,885				2,885
Balance ending at Dec. 27, 2014	$458,380	$49	$378	($95,009)	$152,074	($3,320)	$404,208

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. 27, 2014	Sep. 27, 2014	Jun. 28, 2014	Dec. 27, 2014
DividendsCashAbstract
Preferred stock cash dividends per common stock equivalent	$0.13	$0.13	$0.13
Common stock cash dividends per share	$0.13	$0.13	$0.13
Pension liability adjustment - pre-tax
Pension liability adjustment - pre-tax				($297)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Cash flows from operating activities
Net income	$49,248	$42,550
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation and amortization	26,172	23,755
Gain on bargain purchase	-386	-261
Loss on disposal of assets	638	79
Stock-based compensation expense	2,885	2,928
Excess tax benefits from share-based payment arrangements	-81	-133
Net change in deferred income taxes	1,252	1,513
Change in operating assets and liabilities:
Trade receivables	-481	-323
Inventories	-6,429	-4,300
Other current assets	-2,245	2,604
Other non-current assets	-1,083	2,034
Trade payables	14,260	-862
Accrued expenses	-2,603	1,948
Federal and state income taxes payable	7,994	4,275
Other long-term liabilities	-988	-11
Long-term income taxes payable	463	-763
Total adjustments	39,368	32,483
Net cash provided by operating activities	88,616	75,033
Cash flows from investing activiites:
Capital expenditures	-26,517	-21,686
Acquisitions, net of cash acquired	-82,658	-26,334
Proceeds from the disposal of assets	365	3,898
Net cash used for investing activities	-108,810	-44,122
Cash flows from financing activities:
Proceeds from borrowings	275,623	234,980
Principal payments on long-term debt, capital leases and financing obligations	-241,607	-255,440
Exercise of stock options	2,124	3,466
Excess tax benefits from share-based payment arrangements	81	133
Dividends to shareholders	-12,610	-10,608
Net cash provided by (used for) financing activities	23,611	-27,469
Increase in cash	3,417	3,442
Cash at beginning of period	1,205	1,463
Cash at end of period	$4,622	$4,905

Condensed_Consolidated_Financi

Condensed Consolidated Financial Statements	9 Months Ended
	Dec. 27, 2014
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 27, 2014 and March 29, 2014, the consolidated statements of comprehensive income for the quarters and nine months ended December 27, 2014 and December 28, 2013, the consolidated statement of changes in shareholders' equity for the nine months ended December 27, 2014, and the consolidated statements of cash flows for the nine months ended December 27, 2014 and 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 29, 2014.
	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 2014”               September 28, 2014 – December 27, 2014 (13 weeks)
	“Quarter Ended Fiscal December 2013”               September 29, 2013 – December 28, 2013 (13 weeks)
	“Nine Months Ended Fiscal December 2014”              March 30, 2014 – December 27, 2014 (39 weeks)
	“Nine Months Ended Fiscal December 2013”              March 31, 2013 – December 28, 2013 (39 weeks)
	Fiscal year 2015, ending March 28, 2015, is a 52 week year.
	Recent Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance for the reporting of discontinued operations. This guidance eliminates certain exceptions from reporting discontinued operations that exist under current guidance, and also requires several new disclosures about disposals that qualify as discontinued operations. This guidance is effective for fiscal years and interim periods within those years beginning on or after December 15, 2014, with early adoption permitted. The adoption of this guidance is not anticipated to have a material effect on Monro's Consolidated Financial Statements.
	In May 2014, the FASB issued new accounting guidance for the reporting of revenue from contracts with customers. This guidance provides guidelines a company will apply to determine the measurement of revenue and timing of when it is recognized. This guidance is effective for the first interim period within annual reporting periods beginning after December 15, 2016 and early adoption is not permitted. We are currently evaluating the potential effect of the adoption of this guidance on our 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. 27, 2014
Business Combinations [Abstract]
Mergers Acquisitions And Dispositions Disclosures [Text Block]	Note 2 – Acquisitions
	Acquisitions are strategic moves in our plan designed to fill in and expand our presence in existing and contiguous markets, and leverage fixed operating costs such as distribution and advertising.
	Subsequent Event
	We signed a definitive asset purchase agreement to complete the acquisition of eight retail tire and automotive repair stores located in Florida from Martino Tire Stores on January 28, 2015. This transaction is expected to close during the fourth quarter of fiscal 2015. These stores will operate under The Tire Choice brand. The acquisition is expected to be financed through our existing credit facility.
	Fiscal 2015
	On December 7, 2014, we acquired nine retail tire and automotive repair stores in Florida from Gold Coast Tire & Auto Centers. These stores operate under The Tire Choice name. The acquisition was financed through our existing credit facility.
	During July and December 2014, we acquired four retail tire and automotive repair stores located in New York and Georgia through four separate transactions. These stores operate under the Mr. Tire name. The acquisitions were financed through our existing credit facility.
	On September 28, 2014, we acquired nine retail tire and automotive repair stores located in Georgia from Wood & Fullerton Stores, LLC. These stores operate under the Mr. Tire name. The acquisition was financed through our existing credit facility.
	On August 8, 2014, we acquired 35 retail tire and automotive repair stores located in Florida from Hennelly Tire & Auto, Inc. These stores operate under The Tire Choice name. The acquisition was financed through our existing credit facility.
	On June 15, 2014, we acquired ten and nine retail tire and automotive repair stores located in Michigan from Lentz U.S.A. Service Centers, Inc. and Kan Rock Tire Company, Inc., respectively. These stores operate under the Monro Brake & Tire name.
	On April 13, 2014, we acquired two retail tire and automotive repair stores located in New Hampshire from Bald Tire & Auto, Inc. These stores were previously Tire Warehouse franchise locations and continue to operate under the Tire Warehouse name.
	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 trade names, customer relationships 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 27, 2014. The total costs related to the acquisitions were $.3 million and $.9 million for the three and nine months ended December 27, 2014, 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 preliminarily allocated to the net tangible and intangible assets acquired, with the remainder recorded as goodwill on the basis of estimated fair values, as follows:
		As of December 27,
		2014
		(Dollars in thousands)
	Inventories		$	5,123
	Other current assets			561
	Property, plant and equipment			30,174
	Intangible assets			8,759
	Long-term deferred income tax assets			15,235
	Other non-current assets			73
	Total assets acquired			59,925
	Warranty reserves			730
	Other current liabilities			2,673
	Long-term capital leases and financing obligations			48,064
	Other long-term liabilities			1,251
	Total liabilities assumed			52,718
	Total net identifiable assets acquired		$	7,207
	Total consideration transferred		$	82,694
	Plus: gain on bargain purchase			386
	Less: total net identifiable assets acquired			7,207
	Goodwill		$	75,873
	The following are the intangible assets acquired and their respective estimated fair values and weighted average useful lives:
				As of
				Acquisition
				Date
				Weighted
			Dollars in	Average
			thousands	Useful Life
	Trade names		$3,548	14 years
	Customer relationships		3,616	7 years
	Favorable leases		1,595	17 years
	Total		$8,759	12 years
	Sales for the fiscal 2015 acquired entities for the three and nine months ended December 27, 2014 totaled $18.8 million and $29.5 million, respectively, for the period from acquisition date through December 27, 2014.
	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.
	Fiscal 2014
	As part of the acquisition process, we finalized the purchase accounting for the following fiscal 2014 acquisitions during fiscal 2015:
	Carl King Tire Co., Inc., involving six retail tire and automotive repair stores located in Maryland and Delaware, which were acquired on November 17, 2013.
	S&S Firestone, Inc., involving four retail tire and automotive repair stores located in Kentucky, which were acquired on November 17, 2013.
	XL Tire, Inc., involving two retail tire and automotive repair stores located in North Carolina, which were acquired on October 20, 2013.
	Curry's Automotive Group, involving ten retail tire and automotive repair stores located in the Washington D.C. metropolitan area, which were acquired on August 18, 2013, and
	Mitchell Tire Service, involving one retail tire and automotive repair store located in New Jersey, which was acquired on August 11, 2013.
	The resulting adjustments were not material to the Consolidated Financial Statements.
	The aggregated fiscal 2014 acquisitions are not material to the Consolidated Financial Statements. Additionally, 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 entity was not owned by Monro.
	We continue to refine the valuation data and estimates primarily related to road hazard warranty, intangible assets, real estate and real property leases for all other fiscal 2014 acquisitions and all fiscal 2015 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
	Dec. 27, 2014
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
				2014		2013		2014		2013
			(Dollars in thousands,
			except per share data)
	Numerator for earnings per common share calculation:
	Net Income		$	15,986	$	15,329	$	49,248	$	42,550
	Preferred stock dividends			-98		-83		-296		-250
	Income available to common stockholders		$	15,888	$	15,246	$	48,952	$	42,300
	Denominator for earnings per common share calculation:
	Weighted average common shares, basic			31,596		31,417		31,558		31,369
	Effect of dilutive securities:
		Preferred stock		760		760		760		760
		Stock options		481		456		514		438
	Weighted average common shares, diluted			32,837		32,633		32,832		32,567
	Basic Earnings per common share:		$	0.5	$	0.49	$	1.55	$	1.35
	Diluted Earnings per common share:		$	0.49	$	0.47	$	1.5	$	1.31
	The computation of diluted EPS excludes the effect of the assumed exercise of approximately 153,000 and 154,000 stock options for the three and nine months ended fiscal December 27, 2014, respectively, and 86,000 and 98,000 for the three and nine months ended December 28, 2013, 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
	Dec. 27, 2014
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 $6.2 million and $5.9 million at December 27, 2014 and March 29, 2014, respectively, the majority of which, if recognized, would affect the effective tax rate. As of December 27, 2014, we had approximately $.4 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 2012 through fiscal 2014 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
	Dec. 27, 2014
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 5 – Fair Value
	Long-term debt, including current portion, had a carrying amount and a fair value of $146.5 million as of December 27, 2014, as compared to a carrying amount and a fair value of $106.5 million as of March 29, 2014. 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. 27, 2014
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 27, 2014:
	In connection with the fiscal 2015 acquisitions, liabilities were assumed as follows:
			(Dollars in thousands)
	Fair value of assets acquired	$	59,925
	Goodwill acquired		75,873
	Gain on bargain purchase		-386
	Cash paid, net of cash acquired		-82,694
	Liabilities assumed	$	52,718
	Nine Months Ended December 28, 2013:
	In connection with the fiscal 2014 acquisitions, liabilities were assumed as follows:
			(Dollars in thousands)
	Fair value of assets acquired	$	13,364
	Goodwill acquired		17,430
	Gain on bargain purchase		-217
	Cash paid, net of cash acquired		-26,314
	Liabilities assumed	$	4,263
	These amounts reflect final purchase accounting adjustments for the fiscal 2014 acquisitions. (See Note 2).
	Purchase accounting adjustments related to the fiscal 2014 acquisitions decreased goodwill by $.2 million in fiscal 2015.

Cash_Dividend

Cash Dividend	9 Months Ended
	Dec. 27, 2014
DividendsCashAbstract
Cash Dividends [Text Block]	Note 7 – Cash Dividend
	In May 2014, our Board of Directors declared its intention to pay a regular quarterly cash dividend during fiscal 2015 of $.13 per common share or common share equivalent to be paid beginning with the first quarter of fiscal 2015. 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.

Subsequent_Events

Subsequent Events	9 Months Ended
	Dec. 27, 2014
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 8 – Subsequent Events
	See Note 2 for a discussion of an acquisition we completed subsequent to December 27, 2014.

Acquisitions_Tables

Acquisitions (Tables)	9 Months Ended
	Dec. 27, 2014
Business Combinations [Abstract]
Schedule Of Purchase Price [Table Text Block]
		As of December 27,
		2014
		(Dollars in thousands)
	Inventories		$	5,123
	Other current assets			561
	Property, plant and equipment			30,174
	Intangible assets			8,759
	Long-term deferred income tax assets			15,235
	Other non-current assets			73
	Total assets acquired			59,925
	Warranty reserves			730
	Other current liabilities			2,673
	Long-term capital leases and financing obligations			48,064
	Other long-term liabilities			1,251
	Total liabilities assumed			52,718
	Total net identifiable assets acquired		$	7,207
	Total consideration transferred		$	82,694
	Plus: gain on bargain purchase			386
	Less: total net identifiable assets acquired			7,207
	Goodwill		$	75,873
ScheduleOfIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock				As of
				Acquisition
				Date
				Weighted
			Dollars in	Average
			thousands	Useful Life
	Trade names		$3,548	14 years
	Customer relationships		3,616	7 years
	Favorable leases		1,595	17 years
	Total		$8,759	12 years

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Dec. 27, 2014
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
				2014		2013		2014		2013
			(Dollars in thousands,
			except per share data)
	Numerator for earnings per common share calculation:
	Net Income		$	15,986	$	15,329	$	49,248	$	42,550
	Preferred stock dividends			-98		-83		-296		-250
	Income available to common stockholders		$	15,888	$	15,246	$	48,952	$	42,300
	Denominator for earnings per common share calculation:
	Weighted average common shares, basic			31,596		31,417		31,558		31,369
	Effect of dilutive securities:
		Preferred stock		760		760		760		760
		Stock options		481		456		514		438
	Weighted average common shares, diluted			32,837		32,633		32,832		32,567
	Basic Earnings per common share:		$	0.5	$	0.49	$	1.55	$	1.35
	Diluted Earnings per common share:		$	0.49	$	0.47	$	1.5	$	1.31

Supplemental_Disclosure_of_Cas1

Supplemental Disclosure of Cash Flow Information (Tables)	9 Months Ended
	Dec. 27, 2014
Supplemental Cash Flow Information Abstract
ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock			(Dollars in thousands)
	Fair value of assets acquired	$	59,925
	Goodwill acquired		75,873
	Gain on bargain purchase		-386
	Cash paid, net of cash acquired		-82,694
	Liabilities assumed	$	52,718
			(Dollars in thousands)
	Fair value of assets acquired	$	13,364
	Goodwill acquired		17,430
	Gain on bargain purchase		-217
	Cash paid, net of cash acquired		-26,314
	Liabilities assumed	$	4,263

Condensed_Consolidated_Financi1

Condensed Consolidated Financial Statements (Details)	9 Months Ended
	Dec. 27, 2014
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 $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013
Schedule Of Business Acquisitions Purchase Price Allocation [Line Items]
Inventories	$5,123
Other current assets	561
Property, plant and equipment	30,174
Intangible assets	8,759
Long-term deferred income tax assets	15,235
Other non-current assets	73
Total assets acquired	59,925	13,364
Warranty reserves	730
Other current liabilities	2,673
Long-term capital leases and financing obligations	48,064
Other long-term liabilities	1,251
Total liabilities assumed	52,718	4,263
Total net identifiable assets acquied	7,207
Total consideration transferred	82,694
Plus: gain on bargain purchase	386	261
Less: total net identifiable assets acquired	7,207
Goodwill	$75,873	$17,430
Curry Acquisition
Business Acquisition [Line Items]
Number of stores acquired		10
Hennelly Acquistion [Member]
Business Acquisition [Line Items]
Number of stores acquired	35
Lentz Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired	10
Kan Rock Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired	9
Bald Tire Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired	2
Wood & Fullerton Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired	9
Mitchell Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired		1
Carl King Tire Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired		6
S&S Firestone Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired		4
XL Tire Acquistion [Member]
Business Acquisition [Line Items]
Number of stores acquired		2
Gold Coast Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired	9
Single Store Acquisitions [Member]
Business Acquisition [Line Items]
Number of stores acquired	4
Single store acquisition transactions	4
Martino Tire Acquisition [Member]
Business Acquisition [Line Items]
Number of stores acquired	8

Acquisitions_Details_2

Acquisitions (Details 2) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Dec. 27, 2014	Dec. 27, 2014
Acquisitions Textual [Abstract]
Total costs related to acquisitions	$0.30	$0.90
Sales for the fiscal 2015 acquired entities	$18.80	$29.50

Acquisitions_Additional_Inform

Acquisitions Additional Information (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 27, 2014
All finite lived intangible assets
Acquired Finite-Lived Intangible Assets [Line Items]
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles	$8,759
Weighted average useful life	12 years
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles	3,548
Weighted average useful life	14 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles	3,616
Weighted average useful life	7 years
Favorable leases
Acquired Finite-Lived Intangible Assets [Line Items]
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles	$1,595
Weighted average useful life	17 years

Earnings_Per_Share_Details

Earnings Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 27, 2014	Dec. 28, 2013	Dec. 27, 2014	Dec. 28, 2013
Numerator For Earnings Per Share Calculation [Abstract]
Net income	$15,986	$15,329	$49,248	$42,550
Preferred stock dividends	-98	-83	-296	-250
Income available to common shareholders	$15,888	$15,246	$48,952	$42,300
Denominator for earnings per common share calculation:
Weighted average common shares, basic	31,596,000	31,417,000	31,558,000	31,369,000
Effect of dilutive securities:
Preferred stock	760,000	760,000	760,000	760,000
Stock options	481,000	456,000	514,000	438,000
Weighted average number of common shares, diluted	32,837,000	32,633,000	32,832,000	32,567,000
Basic Earnings per common share:	$0.50	$0.49	$1.55	$1.35
Diluted Earnings per common share:	$0.49	$0.47	$1.50	$1.31
Antidilutive securities excluded from computation of earnings per share	153,000	86,000	154,000	98,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	Dec. 27, 2014	Mar. 29, 2014
In Millions, unless otherwise specified
Income Tax Uncertainties
Unrecognized tax benefits	$6.20	$5.90
Interest and penalties accrued related to unrecognized tax benefits	$0.40

Fair_Value_Details

Fair Value (Details) (USD $)	Dec. 27, 2014	Mar. 29, 2014
In Millions, unless otherwise specified
Fair Value Disclosures [Abstract]
Carrying amount of long-term debt ( including current portion)	$146.50	$106.50
Fair value of long-term debt (including current portion)	$146.50	$106.50

Supplemental_Disclosure_of_Cas2

Supplemental Disclosure of Cash Flow Information (Details) (USD $)	9 Months Ended
	Dec. 27, 2014	Dec. 28, 2013
Supplemental Cash Flow [Line Items]
Fair value of assets acquired	$59,925,000	$13,364,000
Goodwill acquired	75,873,000	17,430,000
Gain on bargain purchase	-386,000	-217,000
Cash paid, net of cash acquired	-82,694,000	-26,314,000
Liabilities assumed	52,718,000	4,263,000
Goodwill Purchase Price Adjustment	($200,000)

Cash_Dividends_Details

Cash Dividends (Details) (USD $)	3 Months Ended
	Mar. 28, 2015	Dec. 27, 2014	Sep. 27, 2014	Jun. 28, 2014
DividendsCashAbstract
Common stock cash dividends per share declared	$0.13	$0.13	$0.13	$0.13