Monro (MNRO) 10-Q 7 Feb 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 29, 2018	Jan. 25, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	MONRO, INC.
Entity Central Index Key	876,427
Document Type	10-Q
Document Period End Date	Dec. 29, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-30
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock Shares Outstanding		33,103,468

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 29, 2018	Mar. 31, 2018
Current assets:
Cash and equivalents	$ 3,579	$ 1,909
Trade receivables	15,033	11,582
Federal and state income taxes receivable	5,276	4,185
Inventories	158,846	152,367
Other current assets	39,579	37,213
Total current assets	222,313	207,256
Property, plant and equipment	807,230	767,864
Less - Accumulated depreciation and amortization	(376,587)	(351,195)
Net property, plant and equipment	430,643	416,669
Goodwill	548,153	522,892
Intangible assets	50,810	49,143
Other non-current assets	12,756	10,997
Long-term deferred income tax assets	2,406	11,475
Total assets	1,267,081	1,218,432
Current liabilities:
Current portion of long-term debt, capital leases and financing obligations	21,361	18,989
Trade payables	95,166	84,568
Accrued payroll, payroll taxes and other payroll benefits	22,570	20,197
Accrued insurance	39,848	36,739
Warranty reserves	12,555	12,381
Other current liabilities	21,123	21,131
Total current liabilities	212,623	194,005
Long-term debt	119,884	148,068
Long-term capital leases and financing obligations	228,877	227,220
Accrued rent expense	4,116	4,530
Other long-term liabilities	12,919	14,141
Long-term income taxes payable	2,528	1,992
Total liabilities	580,947	589,956
Commitments and contingencies
Shareholders' equity:
Class C Convertible Preferred Stock, $1.50 par value, $.064 conversion value; 150,000 shares authorized; 21,802 shares issued and outstanding	33	33
Common Stock, $.01 par value, 65,000,000 shares authorized; 39,459,263 and 39,166,392 shares issued at December 29, 2018 and March 31, 2018, respectively	395	392
Treasury Stock, 6,359,871 and 6,330,008 shares at December 29, 2018 and March 31, 2018, respectively, at cost	(108,729)	(106,563)
Additional paid-in capital	216,809	199,576
Accumulated other comprehensive loss	(4,475)	(4,248)
Retained earnings	582,101	539,286
Total shareholders' equity	686,134	628,476
Total liabilities and shareholders' equity	$ 1,267,081	$ 1,218,432

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 29, 2018	Mar. 31, 2018
Consolidated Balance Sheets [Abstract]
Class C convertible preferred stock par value	$ 1.50	$ 1.50
Class C convertible preferred stock, conversion value	$ 0.064	$ 0.064
Class C convertible preferred stock shares authorized	150,000	150,000
Class C convertible preferred stock shares issued	21,802	21,802
Class C convertible preferred stock shares outstanding	21,802	21,802
Common stock par value	$ 0.01	$ 0.01
Common stock shares authorized	65,000,000	65,000,000
Common stock shares issued	39,459,263	39,166,392
Treasury stock shares	6,359,871	6,330,008

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 29, 2018	Dec. 23, 2017	Dec. 29, 2018	Dec. 23, 2017
Consolidated Statements Of Comprehensive Income [Abstract]
Sales	$ 310,110	$ 285,730	$ 913,027	$ 842,237
Cost of sales, including distribution and occupancy costs	192,144	178,743	557,876	514,426
Gross profit	117,966	106,987	355,151	327,811
Operating, selling, general and administrative expenses	87,256	77,688	256,862	230,943
Operating income	30,710	29,299	98,289	96,868
Interest expense, net of interest income	6,797	6,138	20,180	17,997
Other income, net	(321)	(99)	(809)	(336)
Income before provision for income taxes	24,234	23,260	78,918	79,207
Provision for income taxes	3,703	11,659	15,982	32,755
Net income	20,531	11,601	62,936	46,452
Other comprehensive loss, net of tax:
Changes in pension, net of tax benefit	(76)	(50)	(227)	(151)
Comprehensive income	$ 20,455	$ 11,551	$ 62,709	$ 46,301
Earnings per common share:
Basic	$ 0.62	$ 0.35	$ 1.90	$ 1.41
Diluted	$ 0.61	$ 0.35	$ 1.87	$ 1.39
Weighted average number of common shares outstanding used in computing earnings per share:
Basic	33,032	32,779	32,932	32,746
Diluted	33,766	33,352	33,605	33,317

Consolidated Statement Of Chang

Consolidated Statement Of Changes in Shareholders' Equity - 9 months ended Dec. 29, 2018 - USD ($) $ in Thousands		Class C Convertible Preferred Stock [Member]	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Total
Balance beginning at Mar. 31, 2018		$ 33	$ 392	$ (106,563)	$ 199,576	$ (4,248)	$ 539,286	$ 628,476
Beginning balance, preferred shares at Mar. 31, 2018		21,802						21,802
Beginning balance, common shares at Mar. 31, 2018			39,166,000	6,330,000
Net income							62,936	$ 62,936
Other comprehensive loss:
Pension liability adjustment ($302) pre-tax						(227)		(227)
Cash dividends:
Preferred dividends	[1]						(306)	(306)
Common dividends	[1]						(19,778)	(19,778)
Dividend payable							(37)	(37)
Activity related to equity-based plans			$ 3	$ (2,166)	14,083			11,920
Activity related to equity-based plans, shares			293,000	30,000
Stock-based compensation					3,150			3,150
Balance ending at Dec. 29, 2018		$ 33	$ 395	$ (108,729)	$ 216,809	$ (4,475)	$ 582,101	$ 686,134
Ending balance, preferred shares at Dec. 29, 2018		21,802						21,802
Ending balance, common shares at Dec. 29, 2018			39,459,000	6,360,000
[1]	First, second and third quarter fiscal year 2019 dividend payment of $.20 per common share or common share equivalent paid on June 14, 2018, September 6, 2018 and December 21, 2018, respectively.

Consolidated Statement Of Cha_2

Consolidated Statement Of Changes in Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Dec. 29, 2018
Consolidated Statement of Changes in Shareholders' Equity [Abstract]
Common stock cash dividends per share	$ 0.20	$ 0.20	$ 0.20
Pension liability adjustment - pre-tax				$ (302)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 29, 2018	Dec. 23, 2017
Cash flows from operating activities:
Net income	$ 62,936	$ 46,452
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation and amortization	41,035	36,477
Gain on bargain purchase		(13)
Gain on disposal of assets	(314)	(400)
Stock-based compensation expense	3,150	2,010
Net change in deferred income taxes	10,707	12,183
Change in operating assets and liabilities (excluding acquisitions):
Trade receivables	(1,777)	(1,367)
Inventories	2,225	118
Other current assets	772	(6,390)
Other non-current assets	1	2,305
Trade payables	10,598	6,802
Accrued expenses	1,596	547
Federal and state income taxes payable	(1,091)	(1,445)
Other long-term liabilities	(1,767)	(780)
Long-term income taxes payable	536	610
Total adjustments	65,671	50,657
Net cash provided by operating activities	128,607	97,109
Cash flows from investing activities:
Capital expenditures	(30,763)	(29,727)
Acquisitions, net of cash acquired	(46,052)	(16,363)
Proceeds from the disposal of assets	492	2,333
Other	281
Net cash used for investing activities	(76,042)	(43,757)
Cash flows from financing activities:
Proceeds from borrowings	313,875	260,951
Principal payments on long-term debt, capital leases and financing obligations	(356,834)	(300,514)
Exercise of stock options	12,148	3,035
Dividends paid	(20,084)	(17,966)
Net cash used for financing activities	(50,895)	(54,494)
Increase (decrease) in cash	1,670	(1,142)
Cash at beginning of period	1,909	8,995
Cash at end of period	$ 3,579	$ 7,853

Condensed Consolidated Financia

Condensed Consolidated Financial Statements	9 Months Ended
	Dec. 29, 2018
Condensed Consolidated Financial Statements [Abstract]
Condensed Consolidated Financial Statements	Note 1 – Condensed Consolidated Financial Statements  The consolidated balance sheets as of December 29, 2018 and March 31, 2018, the consolidated statements of comprehensive income for the quarters and nine months ended December 29, 2018 and December 23, 2017, the consolidated statement of changes in shareholders’ equity for the nine months ended December 29, 2018 and the consolidated statements of cash flows for the nine months ended December 29, 2018 and December 23, 2017, include financial information for Monro, Inc. and its wholly-owned subsidiaries, Monro Service Corporation and Car-X, LLC (collectively, “Monro,” “we,” “us,” “our,” the “Company”). 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 Quarterly Report on 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 fiscal year ended March 31, 2018.  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 2018” September 30, 2018 – December 29, 2018 (13 weeks) “Quarter Ended Fiscal December 2017” September 24, 2017 – December 23, 2017 (13 weeks) “Nine Months Ended Fiscal December 2018” April 1, 2018 – December 29, 2018 (39 weeks) “Nine Months Ended Fiscal December 2017” March 26, 2017 – December 23, 2017 (39 weeks)  Fiscal 2019, ending March 30, 2019, is a 52 week year.  Monro’s operations are organized and managed in one operating segment. The internal management financial reporting that is the basis for evaluation in order to assess performance and allocate resources by our chief operating decision maker consists of consolidated data that includes the results of our retail, commercial and wholesale locations. As such, our one operating segment reflects how our operations are managed, how resources are allocated, how operating performance is evaluated by senior management and the structure of our internal financial reporting.  Recent Accounting Pronouncements  In May 2014, the Financial Accounting Standards Board (“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. Additional guidance has subsequently been issued to amend or clarify the reporting of revenue from contracts with customers. The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017. Early adoption was permitted. We adopted this guidance and all related amendments during the first quarter of fiscal 2019 using the modified retrospective approach. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements. See Note 7 for additional information.  In February 2016, the FASB issued new accounting guidance related to leases. This guidance establishes a right of use (“ROU”) model that requires a lessee to record a ROU asset and lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Additional guidance has subsequently been issued in order to provide an additional transition method as well as an additional practical expedient to be available upon adoption. We are required to adopt the new lease guidance utilizing one of two methods: retrospective restatement for each reporting period presented at time of adoption, or a modified retrospective approach with the cumulative effect of initially applying this guidance recognized at the date of initial application. Under the modified retrospective approach, prior periods would not be restated. Early adoption is permitted, but we have not early adopted this guidance. We expect to adopt using the modified retrospective approach and that the new lease standard will have a material impact on our Consolidated Financial Statements. While we are continuing to assess the effects of adoption, we currently believe the most significant changes relate to the recognition of new ROU assets and lease liabilities on the Consolidated Balance Sheet for operating leases as approximately 50% of our store leases, all of our land leases and all of our non-real estate leases are currently not recorded on our balance sheet. We expect that substantially all of our operating lease commitments will be subject to the new guidance and will be recognized as operating lease liabilities and ROU assets upon adoption. Absent potential acquisitions, we do not anticipate any significant changes in the volume of our leasing activity until the period of adoption.  In August 2016, the FASB issued new accounting guidance related to cash flow classification. This guidance clarifies and provides specific guidance on eight cash flow classification issues that are not addressed by current generally accepted accounting principles and thereby reduce the current diversity in practice. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017. Early adoption was permitted. We adopted this guidance during the first quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In January 2017, the FASB issued new accounting guidance which clarifies the definition of a business, particularly when evaluating whether transactions should be accounted for as acquisitions or dispositions of assets or businesses. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017. Early adoption was permitted for certain transactions. We adopted this guidance during the first quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In January 2017, the FASB issued new accounting guidance simplifying the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which required the determination of an implied fair value of goodwill. Under this guidance, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. This guidance is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We adopted this guidance during the third quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In March 2017, the FASB issued accounting guidance that amends how employers present the net benefit cost in the income statement. The new guidance requires employers to disaggregate and present separately the current service cost component from the other components of the net benefit cost within the Consolidated Statement of Comprehensive Income. This guidance is effective for fiscal years and interim periods beginning after December 15, 2017, and should be applied retrospectively. Early adoption was permitted. We adopted this guidance during the first quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In May 2017, the FASB issued new accounting guidance which clarifies when to account for a change to the terms or conditions of a share based payment award as a modification. Under this guidance, modification is required only if the fair value, the vesting conditions, or the classification of an award as equity or liability changes as a result of the change in terms or conditions. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017. Early adoption was permitted. We adopted this guidance during the first quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In June 2018, the FASB issued new accounting guidance that amends the accounting for nonemployee share-based awards. Under the new guidance, the existing guidance related to the accounting for employee share-based awards will apply to nonemployee share-based transactions, with certain exceptions. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the potential impact of the adoption of this guidance on our Consolidated Financial Statements.  In August 2018, the FASB issued new accounting guidance which eliminates, adds and modifies certain disclosure requirements for fair value measurements. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the potential impact of the adoption of this guidance on our Consolidated Financial Statements.  In August 2018, the FASB issued new accounting guidance that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2019. Early adoption was permitted. We adopted this guidance during the third quarter of fiscal 2019. The adoption of this guidance did not have a material impact 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 our Consolidated Financial Statements.  Guarantees  At the time we issue a guarantee, we recognize an initial liability for the fair value, or market value, of the obligation we assume under that guarantee. Monro has guaranteed certain lease payments, primarily related to franchisees, amounting to $2.2 million. This amount represents the maximum potential amount of future payments under the guarantees as of December 29, 2018. The leases are guaranteed through April 2020. In the event of default by the franchise owner, Monro generally retains the right to assume the lease of the related store, enabling Monro to re-franchise the location or to operate that location as a Company-operated store. As of December 29, 2018, no liability related to anticipated defaults under the foregoing leases is recorded. We recorded a liability related to anticipated defaults under the foregoing leases of $.2 million as of March 31, 2018.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 29, 2018
Acquisitions [Abstract]
Acquisitions	Note 2 – Acquisitions  Monro’s 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, advertising and administration. Acquisitions in this footnote include acquisitions of five or more locations as well as acquisitions of one to four locations that are part of our greenfield store growth strategy.  Subsequent Events  Subsequent to December 29, 2018, we signed definitive asset purchase agreements to complete the acquisition of 12 retail tire and automotive repair stores located in Louisiana. This transaction is expected to close during the fourth quarter of fiscal 2019 and is expected to be financed through our existing credit facility.  On January 13, 2019 , we acquired 13 retail tire and automotive repair stores located in Florida from R.A. Johnson, Inc. These stores operate under The Tire Choice name. The acquisition was financed through our existing credit facility.  Fiscal 2019  During the first nine months of fiscal 2019, we acquired the following businesses for an aggregate purchase price of $45.4 million. The acquisitions were financed through our existing credit facility. The results of operations for these acquisitions are included in our financial results from the respective acquisition dates.  · On December 9, 2018 , we acquired two retail tire and automotive repair stores located in Virginia from Colony Tire Corporation. These stores operate under the Mr. Tire name.  · On November 4, 2018 , we acquired five retail tire and automotive repair stores located in Ohio from Jeff Pohlman Tire & Auto Service, Inc. These stores operate under the Car-X and Mr. Tire names.  · On October 14, 2018 , we acquired one retail tire and automotive repair store located in Illinois from Quality Tire and Auto, Inc. This store operates under the Car-X name.  · On September 23, 2018 , we acquired one retail tire and automotive repair store located in South Carolina from Walton’s Automotive, LLC. This store operates under the Treadquarters name.  · On September 16, 2018 , we acquired one retail tire and automotive repair store located in Illinois from C&R Auto Service, Inc. This store operates under the Car-X name.  · On September 9, 2018 , we acquired four retail tire and automotive repair stores in Arkansas and Tennessee from Steele-Guiltner, Inc. These stores operate under the Car-X name.  · On July 15, 2018 , we acquired one retail tire and automotive repair store located in Pennsylvania from Mayfair Tire & Service Center, Inc. This store operates under the Mr. Tire name.  · On July 8, 2018 , we acquired eight retail tire and automotive repair stores in Missouri from Sawyer Tire, Inc. These stores operate under the Car-X name.  · On May 13, 2018 , we acquired 12 retail/commercial tire and automotive repair stores and one retread facility located in Tennessee, as well as four wholesale locations in North Carolina, Tennessee and Virginia, from Free Service Tire Company, Incorporated. These locations operate under the Free Service Tire name.  · On April 1, 2018 , we acquired four retail tire and automotive repair stores located in Minnesota from Liberty Auto Group, Inc. These stores operate under the Car-X name.  These acquisitions resulted in goodwill related to, among other things, growth opportunities, synergies and economies of scale expected from combining these businesses with ours, as well as 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 lists, favorable leases and a trade name.  We expensed all costs related to acquisitions in the nine months ended December 29, 2018. The total costs related to completed acquisitions were $.1 million and $.4 million for the quarter and nine months ended December 29, 2018, respectively. These costs are included in the Consolidated Statements of Comprehensive Income primarily under operating, selling, general and administrative expenses.  Sales for the fiscal 2019 acquired entities for the quarter and nine months ended December 29, 2018 totaled $14.7 million and $33.4 million, respectively, for the period from acquisition date through December 29, 2018.  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.  The preliminary fair values of identifiable assets acquired and liabilities assumed were based on preliminary valuations and estimates. The excess of the net purchase price over net identifiable assets acquired was recorded as goodwill. The preliminary allocation of the aggregate purchase price as of December 29, 2018 was as follows:      As of Acquisition Date  (Dollars in thousands)  Trade receivables $ 1,674  Inventories 8,517  Other current assets 230  Property, plant and equipment 12,490  Intangible assets 7,646  Other non-current assets 17  Long-term deferred income tax assets 1,555  Total assets acquired 32,129  Warranty reserves 314  Other current liabilities 1,578  Long-term capital leases and financing obligations 9,018  Other long-term liabilities 523  Total liabilities assumed 11,433  Total net identifiable assets acquired $ 20,696  Total consideration transferred $ 45,447  Less: total net identifiable assets acquired 20,696  Goodwill $ 24,751  The following are the intangible assets acquired and their respective fair values and weighted average useful lives:      As of Acquisition Date  Dollars in thousands Weighted Average Useful Life  Customer lists $ 5,697 13 years  Favorable leases 1,549 10 years  Trade name 400 2 years  Total $ 7,646 12 years  Fiscal 2018  During the first nine months of fiscal 2018, we acquired the following businesses for an aggregate purchase price of $15.7 million. The acquisitions were financed through our existing credit facility. The results of operations for these acquisitions are included in our financial results from the respective acquisition dates.  · On December 17, 2017 , we acquired one retail tire and automotive repair store located in Indiana from MLR, Incorporated. This store operates under the Car-X name.  · On December 10, 2017 , we acquired two retail tire and automotive repair stores located in Pennsylvania from TriGar Tire & Auto Service Center, LLC. One store operates under the Monro name and one store operates under the Mr. Tire name.  · On August 13, 2017 , we acquired eight retail tire and automotive repair stores located in Indiana and Illinois from Auto MD, LLC. These stores operate under the Car-X name.  · On July 30, 2017 , we acquired 13 retail tire and automotive repair stores in Michigan, 12 of which were operating as Speedy Auto Service and Tire dealer locations, from UVR, Inc. One of the acquired stores was not opened by Monro. These stores operate under the Monro name.  · On July 9, 2017 , we acquired one retail tire and automotive repair store located in North Carolina from Norman Young Tires, Inc. This store operates under the Treadquarters name.  · On June 25, 2017 , we acquired one retail tire and automotive repair store located in Illinois from D&S Pulaski, LLC. This store operates under the Car-X name.  · On June 11, 2017 , we acquired two retail tire and automotive repair stores located in Minnesota and Wisconsin from J & R Diversified, Inc. These stores operate under the Car-X name.  · On June 11 , 2017 , we acquired one retail tire and automotive repair store located in Ohio from Michael N. McGroarty, Inc. This store operates under the Mr. Tire name.  · On June 2, 2017 , we acquired one retail tire and automotive repair store located in Connecticut from Tires Plus LLC. This store operates under the Monro name.  · On May 21, 2017 , we acquired one retail tire and automotive repair store located in Ohio from Bob Sumerel Tire Co., Inc. This store operates under the Mr. Tire name.  · On April 23 , 2017 , we acquired one retail tire and automotive repair store located in Florida from Collier Automotive Group, Inc. This store operates under The Tire Choice name.  These acquisitions resulted in goodwill related to, among other things, growth opportunities, synergies and economies of scale expected from combining these businesses with ours, as well as 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 favorable leases and customer lists.  We expensed all costs related to acquisitions in the nine months ended December 23, 2017. The total costs related to completed acquisitions were $.1 million and $.4 million for the quarter and nine months ended December 23, 2017, respectively. These costs are included in the Consolidated Statements of Comprehensive Income primarily under operating, selling, general and administrative expenses.  Sales for the fiscal 2018 acquired entities for the quarter and nine months ended December 23, 2017 totaled $4.6 million and $8.2 million, respectively, for the period from acquisition date through December 23, 2017.  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 have recorded the identifiable assets acquired and liabilities assumed at their fair values as of their respective acquisition dates (including any measurement period adjustments), with the remainder recorded as goodwill as follows:      As of Acquisition Date  (Dollars in thousands)  Inventories $ 474  Other current assets 146  Property, plant and equipment 6,677  Intangible assets 3,356  Other non-current assets 7  Long-term deferred income tax assets 2,738  Total assets acquired 13,398  Other current liabilities 1,309  Long-term capital leases and financing obligations 11,298  Other long-term liabilities 147  Total liabilities assumed 12,754  Total net identifiable assets assumed $ 644  Total consideration transferred $ 15,742  Less: total net identifiable assets assumed 644  Goodwill $ 15,098  The following are the intangible assets acquired and their respective fair values and weighted average useful lives:     As of Acquisition Date  Dollars in thousands Weighted Average Useful Life  Favorable leases $ 2,304 10 years  Customer lists 1,052 7 years  Total $ 3,356 9 years  As a result of the updated purchase price allocations for the entities acquired during the fiscal year ended March 31, 2018, certain of the fair value amounts previously estimated were adjusted during the measurement period. These measurement period adjustments resulted from updated valuation reports and appraisals received from our external valuation specialists, as well as revisions to internal estimates . The changes in estimates include a decrease in inventories of $.1 million; a decrease in property, plant and equipment of $.2 million and a decrease in intangible assets of $.2 million. The measurement period adjustments resulted in an increase of goodwill of $.5 million.  The measurement period adjustments were not material to the Consolidated Statement of Comprehensive Income for the quarter and nine months ended December 29, 2018.  We continue to refine the valuation data and estimates primarily related to inventory, warranty reserves, intangible assets, real estate, and real property leases for fiscal 2018 acquisitions which closed subsequent to December 23, 2017 and the fiscal 2019 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 Common Share

Earnings Per Common Share	9 Months Ended
	Dec. 29, 2018
Earnings Per Common Share [Abstract]
Earnings Per Common Share	Note 3 – Earnings per Common Share  Basic earnings per common share amounts are computed by dividing income available to common shareholders, after deducting preferred stock dividends, by the average number of common shares outstanding. Diluted earnings per common share amounts assume the issuance of common stock for all potentially dilutive equivalent securities outstanding.  The following is a reconciliation of basic and diluted earnings per common share for the respective periods:      Quarter Ended Nine Months Ended  Fiscal December Fiscal December  2018 2017 2018 2017  (Amounts in thousands,  except per share data)  Numerator for earnings per common share calculation:  Net income $ 20,531 $ 11,601 $ 62,936 $ 46,452  Less: Preferred stock dividends (102) (92) (306) (276)  Income available to common shareholders $ 20,429 $ 11,509 $ 62,630 $ 46,176  Denominator for earnings per common share calculation:  Weighted average common shares, basic 33,032 32,779 32,932 32,746  Effect of dilutive securities:  Preferred stock 510 510 510 510  Stock options 195 52 134 57  Restricted stock 29 11 29 4  Weighted average number of common shares, diluted 33,766 33,352 33,605 33,317  Basic earnings per common share: $ .62 $ .35 $ 1.90 $ 1.41  Diluted earnings per common share: $ .61 $ .35 $ 1.87 $ 1.39  The computation of diluted earnings per common share excludes the effect of the assumed exercise of approximately 120,000 and 274,000 stock options for the quarter and nine months ended December 29, 2018, respectively, and 934,000 and 1,096,000 stock options for the quarter and nine months ended December 23, 2017, respectively. Such amounts were excluded as the exercise price of these stock options was greater than the average market value of our common stock for those periods, resulting in an anti-dilutive effect on diluted earnings per common share.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 29, 2018
Income Taxes [Abstract]
Income Taxes	Note 4 – Income Taxes  On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was signed into law. The Tax Act made broad and complex changes to U.S. federal corporate income taxation. Additionally, in December 2017, the staff of the SEC issued guidance under Staff Accounting Bulletin No. 118, “Income Tax Accounting Implications of the Tax Cuts and Jobs Act,” allowing taxpayers to record provisional amounts for reasonable estimates when they did not have the necessary information available, prepared or analyzed in reasonable detail to complete their accounting for certain income tax effects of the Tax Act. During the quarter ended December 23, 2017, we recorded a provisional reduction to our net deferred tax asset, as well as a corresponding increase to income tax expense of $5.3 million related to the revaluation of our net deferred tax asset. Additionally, we recognized an income tax benefit of approximately $2.3 million during the quarter ended December 23, 2017 related to the impact of the reduction in the federal statutory income tax rate on our fiscal 2018 estimated annual effective tax rate. The guidance also provided a measurement period, which extended no longer than one year from the enactment date of the Tax Act, during which a company may complete its accounting for the income tax accounting implications of the Tax Act. As of December 29, 2018, our accounting for the impact of the Tax Act is complete. We did not record any material adjustments for the quarter and nine months ended December 29, 2018 to provisional amounts previously recorded. See Note 7 of our Consolidated Financial Statements included in our 2018 Annual Report on Form 10-K for further information.  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 $6.9 million and $6.2 million at December 29, 2018 and March 31, 2018, respectively, the majority of which, if recognized, would affect our effective tax rate. Additionally, we have accrued interest and penalties related to unrecognized tax benefits of approximately $.5 million and $.4 million as of December 29, 2018 and March 31, 2018, respectively.  We file U.S. federal income tax returns and income tax returns in various state jurisdictions. We have finalized the examination by the Internal Revenue Service of our fiscal 2016 and fiscal 2017 tax years and have recorded an income tax benefit of approximately $2.0 million related to a retroactive accounting method change application that was accepted by the Internal Revenue Service. An income tax benefit was recorded primarily due to the difference in the federal statutory income tax rate of 35% that applies to the refund amounts resulting from the accounting method change for the examination years, as compared to the federal statutory income tax rate of 21% for which deferred tax accounting applies. Additionally, various state tax years remain subject to income tax examinations by tax authorities.

Fair Value

Fair Value	9 Months Ended
	Dec. 29, 2018
Fair Value [Abstract]
Fair Value	Note 5 – Fair Value  Long-term debt had a carrying amount that approximates a fair value of $119.9 million as of December 29, 2018 , as compared to a carrying amount and a fair value of $148.1 million as of March 31, 2018 . 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.

Cash Dividend

Cash Dividend	9 Months Ended
	Dec. 29, 2018
Cash Dividend [Abstract]
Cash Dividend	Note 6 – Cash Dividend  In May 2018, our Board of Directors declared its intention to pay a regular quarterly cash dividend during fiscal 2019 of $.20 per common share or common share equivalent beginning with the first quarter of fiscal 2019. We paid dividends of $20.1 million during the nine months ended December 29, 2018. 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.

Revenues

Revenues	9 Months Ended
	Dec. 29, 2018
Revenues [Abstract]
Revenues	Note 7 – Revenues  Automotive undercar repair, tire sales and tire services represent the vast majority of our revenues. We also earn revenue from the sale of tire road hazard warranty agreements as well as commissions earned from the delivery of tires on behalf of certain tire vendors.  Revenue from automotive undercar repair, tire sales and tire services is recognized at the time the customers take possession of their vehicle or merchandise. For sales to certain customers that are financed through the offering of credit on account, payment terms are established for customers based on our pre-established credit requirements. Payment terms vary depending on the customer and generally range from 15 to 45 days. Based on the nature of receivables, no significant financing components exist. Sales are recorded net of discounts, sales incentives and rebates, sales taxes and estimated returns and allowances. We estimate the reduction to sales and cost of sales for returns based on current sales levels and our historical return experience. Such amounts are immaterial to our Consolidated Financial Statements.  Revenue from the sale of tire road hazard warranty agreements (included in the Tires product group in the table summarizing disaggregated revenue by product group below) is initially deferred and is recognized over the contract period as costs are expected to be incurred in performing such services, typically 21 to 36 months. The amounts recorded for deferred revenue balances at December 29, 2018 and March 31, 2018 were $17.3 million and $17.2 million, respectively, of which $12.1 million and $11.9 million, respectively, are reported in Warranty reserves and $5.2 million and $5.3 million, respectively, are reported in Other long-term liabilities in our Consolidated Balance Sheets.  The following table summarizes deferred revenue related to road hazard warranty agreements from March 31, 2018 to December 29, 2018:      Dollars in  thousands  Balance at March 31, 2018 $ 17,182  Deferral of revenue 12,647  Deferral of revenue from acquisitions 566  Recognition of revenue (13,121)  Balance at December 29, 2018 $ 17,274  We expect to recognize $4.0 million of deferred revenue related to road hazard warranty agreements in the remainder of fiscal 2019 , $9.7 million of such deferred revenue during our fiscal year ending March 28, 2020 , and $3.6 million of such deferred revenue thereafter.  Under various arrangements, we receive from certain tire vendors a delivery commission and reimbursement for the cost of the tire that we may deliver to customers on behalf of the tire vendor. The commission we earn from these transactions (included in the Tires product group in the following table) is as an agent and the net amount retained is recorded as sales.  The following table summarizes disaggregated revenue by product group:      Quarter Ended Nine Months Ended  Fiscal December Fiscal December  2018 2017 2018 2017  (Dollars in thousands)  Revenues:  Brakes $ 38,028 $ 33,313 $ 124,677 $ 109,917  Exhaust 6,802 6,264 22,751 20,137  Steering 23,188 22,778 71,894 69,642  Tires 167,715 152,544 459,236 420,173  Maintenance 73,582 70,043 232,062 219,834  Other 795 788 2,407 2,534  Total $ 310,110 $ 285,730 $ 913,027 $ 842,237

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 29, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 8 – Subsequent Events  See Note 2 for a discussion of acquisitions subsequent to December 29, 2018.  

Condensed Consolidated Financ_2

Condensed Consolidated Financial Statements (Policy)	9 Months Ended
	Dec. 29, 2018
Condensed Consolidated Financial Statements [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements  In May 2014, the Financial Accounting Standards Board (“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. Additional guidance has subsequently been issued to amend or clarify the reporting of revenue from contracts with customers. The guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017. Early adoption was permitted. We adopted this guidance and all related amendments during the first quarter of fiscal 2019 using the modified retrospective approach. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements. See Note 7 for additional information.  In February 2016, the FASB issued new accounting guidance related to leases. This guidance establishes a right of use (“ROU”) model that requires a lessee to record a ROU asset and lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Additional guidance has subsequently been issued in order to provide an additional transition method as well as an additional practical expedient to be available upon adoption. We are required to adopt the new lease guidance utilizing one of two methods: retrospective restatement for each reporting period presented at time of adoption, or a modified retrospective approach with the cumulative effect of initially applying this guidance recognized at the date of initial application. Under the modified retrospective approach, prior periods would not be restated. Early adoption is permitted, but we have not early adopted this guidance. We expect to adopt using the modified retrospective approach and that the new lease standard will have a material impact on our Consolidated Financial Statements. While we are continuing to assess the effects of adoption, we currently believe the most significant changes relate to the recognition of new ROU assets and lease liabilities on the Consolidated Balance Sheet for operating leases as approximately 50% of our store leases, all of our land leases and all of our non-real estate leases are currently not recorded on our balance sheet. We expect that substantially all of our operating lease commitments will be subject to the new guidance and will be recognized as operating lease liabilities and ROU assets upon adoption. Absent potential acquisitions, we do not anticipate any significant changes in the volume of our leasing activity until the period of adoption.  In August 2016, the FASB issued new accounting guidance related to cash flow classification. This guidance clarifies and provides specific guidance on eight cash flow classification issues that are not addressed by current generally accepted accounting principles and thereby reduce the current diversity in practice. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017. Early adoption was permitted. We adopted this guidance during the first quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In January 2017, the FASB issued new accounting guidance which clarifies the definition of a business, particularly when evaluating whether transactions should be accounted for as acquisitions or dispositions of assets or businesses. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017. Early adoption was permitted for certain transactions. We adopted this guidance during the first quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In January 2017, the FASB issued new accounting guidance simplifying the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which required the determination of an implied fair value of goodwill. Under this guidance, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. This guidance is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We adopted this guidance during the third quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In March 2017, the FASB issued accounting guidance that amends how employers present the net benefit cost in the income statement. The new guidance requires employers to disaggregate and present separately the current service cost component from the other components of the net benefit cost within the Consolidated Statement of Comprehensive Income. This guidance is effective for fiscal years and interim periods beginning after December 15, 2017, and should be applied retrospectively. Early adoption was permitted. We adopted this guidance during the first quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In May 2017, the FASB issued new accounting guidance which clarifies when to account for a change to the terms or conditions of a share based payment award as a modification. Under this guidance, modification is required only if the fair value, the vesting conditions, or the classification of an award as equity or liability changes as a result of the change in terms or conditions. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2017. Early adoption was permitted. We adopted this guidance during the first quarter of fiscal 2019. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.  In June 2018, the FASB issued new accounting guidance that amends the accounting for nonemployee share-based awards. Under the new guidance, the existing guidance related to the accounting for employee share-based awards will apply to nonemployee share-based transactions, with certain exceptions. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2018. Early adoption is permitted. We are currently evaluating the potential impact of the adoption of this guidance on our Consolidated Financial Statements.  In August 2018, the FASB issued new accounting guidance which eliminates, adds and modifies certain disclosure requirements for fair value measurements. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2019. Early adoption is permitted. We are currently evaluating the potential impact of the adoption of this guidance on our Consolidated Financial Statements.  In August 2018, the FASB issued new accounting guidance that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2019. Early adoption was permitted. We adopted this guidance during the third quarter of fiscal 2019. The adoption of this guidance did not have a material impact 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 our Consolidated Financial Statements. 
Guarantees	Guarantees  At the time we issue a guarantee, we recognize an initial liability for the fair value, or market value, of the obligation we assume under that guarantee. Monro has guaranteed certain lease payments, primarily related to franchisees, amounting to $2.2 million. This amount represents the maximum potential amount of future payments under the guarantees as of December 29, 2018. The leases are guaranteed through April 2020. In the event of default by the franchise owner, Monro generally retains the right to assume the lease of the related store, enabling Monro to re-franchise the location or to operate that location as a Company-operated store. As of December 29, 2018, no liability related to anticipated defaults under the foregoing leases is recorded. We recorded a liability related to anticipated defaults under the foregoing leases of $.2 million as of March 31, 2018.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Dec. 29, 2018
Fiscal 2018 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule Of Purchase Price Allocation	   As of Acquisition Date  (Dollars in thousands)  Inventories $ 474  Other current assets 146  Property, plant and equipment 6,677  Intangible assets 3,356  Other non-current assets 7  Long-term deferred income tax assets 2,738  Total assets acquired 13,398  Other current liabilities 1,309  Long-term capital leases and financing obligations 11,298  Other long-term liabilities 147  Total liabilities assumed 12,754  Total net identifiable assets assumed $ 644  Total consideration transferred $ 15,742  Less: total net identifiable assets assumed 644  Goodwill $ 15,098 
Schedule Of Intangible Assets Acquired	   As of Acquisition Date  Dollars in thousands Weighted Average Useful Life  Favorable leases $ 2,304 10 years  Customer lists 1,052 7 years  Total $ 3,356 9 years 
Fiscal 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule Of Purchase Price Allocation	   As of Acquisition Date  (Dollars in thousands)  Trade receivables $ 1,674  Inventories 8,517  Other current assets 230  Property, plant and equipment 12,490  Intangible assets 7,646  Other non-current assets 17  Long-term deferred income tax assets 1,555  Total assets acquired 32,129  Warranty reserves 314  Other current liabilities 1,578  Long-term capital leases and financing obligations 9,018  Other long-term liabilities 523  Total liabilities assumed 11,433  Total net identifiable assets acquired $ 20,696  Total consideration transferred $ 45,447  Less: total net identifiable assets acquired 20,696  Goodwill $ 24,751 
Schedule Of Intangible Assets Acquired	   As of Acquisition Date  Dollars in thousands Weighted Average Useful Life  Customer lists $ 5,697 13 years  Favorable leases 1,549 10 years  Trade name 400 2 years  Total $ 7,646 12 years 

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Dec. 29, 2018
Earnings Per Common Share [Abstract]
Reconciliation Of Basic And Diluted Earnings Per Share	   Quarter Ended Nine Months Ended  Fiscal December Fiscal December  2018 2017 2018 2017  (Amounts in thousands,  except per share data)  Numerator for earnings per common share calculation:  Net income $ 20,531 $ 11,601 $ 62,936 $ 46,452  Less: Preferred stock dividends (102) (92) (306) (276)  Income available to common shareholders $ 20,429 $ 11,509 $ 62,630 $ 46,176  Denominator for earnings per common share calculation:  Weighted average common shares, basic 33,032 32,779 32,932 32,746  Effect of dilutive securities:  Preferred stock 510 510 510 510  Stock options 195 52 134 57  Restricted stock 29 11 29 4  Weighted average number of common shares, diluted 33,766 33,352 33,605 33,317  Basic earnings per common share: $ .62 $ .35 $ 1.90 $ 1.41  Diluted earnings per common share: $ .61 $ .35 $ 1.87 $ 1.39 

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Dec. 29, 2018
Revenues [Abstract]
Schedule Of Changes In Deferred Revenue	   Dollars in  thousands  Balance at March 31, 2018 $ 17,182  Deferral of revenue 12,647  Deferral of revenue from acquisitions 566  Recognition of revenue (13,121)  Balance at December 29, 2018 $ 17,274 
Schedule Of Disaggregated Revenue By Product Group	   Quarter Ended Nine Months Ended  Fiscal December Fiscal December  2018 2017 2018 2017  (Dollars in thousands)  Revenues:  Brakes $ 38,028 $ 33,313 $ 124,677 $ 109,917  Exhaust 6,802 6,264 22,751 20,137  Steering 23,188 22,778 71,894 69,642  Tires 167,715 152,544 459,236 420,173  Maintenance 73,582 70,043 232,062 219,834  Other 795 788 2,407 2,534  Total $ 310,110 $ 285,730 $ 913,027 $ 842,237 

Condensed Consolidated Financ_3

Condensed Consolidated Financial Statements (Details)	9 Months Ended
	Dec. 29, 2018USD ($)segment	Mar. 31, 2018USD ($)
Financial Statement [Line Items]
Number of operating segments | segment	1
Leases not recorded on balance sheet, percent	50.00%
Liability for anticipated lease defaults	$ 0	$ 200,000
Property Lease Guarantee [Member] | Maximum [Member]
Financial Statement [Line Items]
Maximum potential guarantee payments	$ 2,200,000

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Thousands	Jan. 13, 2019store	Feb. 07, 2019entity	Dec. 29, 2018USD ($)	Dec. 23, 2017USD ($)	Dec. 29, 2018USD ($)propertystore	Dec. 23, 2017USD ($)store
Business Acquisition [Line Items]
Store acquisitions related to acquisition growth strategy | property					5
Costs related to completed acquisitions | $			$ 100	$ 100	$ 400	$ 400
Sales for acquired entities | $			$ 14,700	$ 4,600	33,400	$ 8,200
Change in estimates, inventories | $					(100)
Change in estimates, property, plant and equipment | $					(200)
Change in estimates, intangible assets | $					(200)
Adjustments to goodwill related to purchase accounting | $					$ 500
Subsequent Event [Member]
Business Acquisition [Line Items]
Number of acquisitions | entity		12
Maximum [Member]
Business Acquisition [Line Items]
Store acquisitions related to greenfield store growth strategy | property					4
Minimum [Member]
Business Acquisition [Line Items]
Store acquisitions related to greenfield store growth strategy | property					1
R.A. Johnson, Inc. [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Acquisition date	Jan. 13, 2019
Number of stores acquired	13
Colony Tire Corporation [Member]
Business Acquisition [Line Items]
Acquisition date					Dec. 9, 2018
Number of stores acquired					2
Jeff Pohlman Tire & Auto Service, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Nov. 4, 2018
Number of stores acquired					5
Quality Tire and Auto, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Oct. 14, 2018
Number of stores acquired					1
Walton’s Automotive, LLC. [Member]
Business Acquisition [Line Items]
Acquisition date					Sep. 23, 2018
Number of stores acquired					1
C&R Auto Service, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Sep. 16, 2018
Number of stores acquired					1
Steele-Guiltner, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Sep. 9, 2018
Number of stores acquired					4
Mayfair Tire & Service Center, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Jul. 15, 2018
Number of stores acquired					1
Sawyer Tire, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Jul. 8, 2018
Number of stores acquired					8
Free Service Tire Company, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					May 13, 2018
Number of stores acquired					12
Liberty Auto Group, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Apr. 1, 2018
Number of stores acquired					4
MLR, Incorporated [Member]
Business Acquisition [Line Items]
Acquisition date					Dec. 17, 2017
Number of stores acquired						1
TriGar Tire & Auto Service Center, LLC. [Member]
Business Acquisition [Line Items]
Acquisition date					Dec. 10, 2017
Number of stores acquired						2
TriGar Tire & Auto Service Center, LLC., Operated By Monro [Member]
Business Acquisition [Line Items]
Number of stores acquired						1
TriGar Tire & Auto Service Center, LLC., Operated By Mr. Tire [Member]
Business Acquisition [Line Items]
Number of stores acquired						1
Auto MD, LLC. [Member]
Business Acquisition [Line Items]
Acquisition date					Aug. 13, 2017
Number of stores acquired						8
UVR, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Jul. 30, 2017
Number of stores acquired, both operating and not opened						13
Number of stores acquired						12
Number of stores never opened						1
Norman Young Tires, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Jul. 9, 2017
Number of stores acquired						1
D&S Pulaski, LLC. [Member]
Business Acquisition [Line Items]
Acquisition date					Jun. 25, 2017
Number of stores acquired						1
J & R Diversified, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Jun. 11, 2017
Number of stores acquired						2
Michael N. McGroarty, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Jun. 11, 2017
Number of stores acquired						1
Tires Plus LLC. [Member]
Business Acquisition [Line Items]
Acquisition date					Jun. 2, 2017
Number of stores acquired						1
Bob Sumerel Tire Co., Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					May 21, 2017
Number of stores acquired						1
Collier Automotive Group, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date					Apr. 23, 2017
Number of stores acquired						1
Fiscal 2018 Acquisitions [Member]
Business Acquisition [Line Items]
Total consideration transferred | $						$ 15,742
Fiscal 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Total consideration transferred | $					$ 45,447

Acquisitions (Schedule Of Purch

Acquisitions (Schedule Of Purchase Price Allocation) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 29, 2018	Dec. 23, 2017	Mar. 31, 2018
Purchase price of acquisitions allocation
Goodwill	$ 548,153		$ 522,892
Fiscal 2018 Acquisitions [Member]
Purchase price of acquisitions allocation
Inventories		$ 474
Other current assets		146
Property, plant and equipment		6,677
Intangible assets		3,356
Other non-current assets		7
Long-term deferred income tax assets		2,738
Total assets acquired		13,398
Other current liabilities		1,309
Long-term capital leases and financing obligations		11,298
Other long-term liabilities		147
Total liabilities assumed		12,754
Total net identifiable assets acquired		644
Total consideration transferred		15,742
Less: total net identifiable assets acquired (liabilities assumed)		644
Goodwill		$ 15,098
Fiscal 2019 Acquisitions [Member]
Purchase price of acquisitions allocation
Trade receivables	1,674
Inventories	8,517
Other current assets	230
Property, plant and equipment	12,490
Intangible assets	7,646
Other non-current assets	17
Long-term deferred income tax assets	1,555
Total assets acquired	32,129
Warranty reserves	314
Other current liabilities	1,578
Long-term capital leases and financing obligations	9,018
Other long-term liabilities	523
Total liabilities assumed	11,433
Total net identifiable assets acquired	20,696
Total consideration transferred	45,447
Less: total net identifiable assets acquired (liabilities assumed)	20,696
Goodwill	$ 24,751

Acquisitions (Schedule Of Intan

Acquisitions (Schedule Of Intangible Assets Acquired) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 29, 2018	Dec. 23, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 7,646	$ 3,356
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life	12 years
Customer Lists [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 5,697	1,052
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life	13 years
Favorable Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 1,549	$ 2,304
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life	10 years
Trade Name [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 400
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life	2 years
Fiscal 2018 Acquisitions [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life	9 years
Fiscal 2018 Acquisitions [Member] | Customer Lists [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life	7 years
Fiscal 2018 Acquisitions [Member] | Favorable Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life	10 years

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 29, 2018	Dec. 23, 2017	Dec. 29, 2018	Dec. 23, 2017
Earnings Per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	120,000	934,000	274,000	1,096,000

Earnings Per Common Share (Reco

Earnings Per Common Share (Reconciliation Of Basic And Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 29, 2018	Dec. 23, 2017	Dec. 29, 2018		Dec. 23, 2017
Numerator for earnings per common share calculation:
Net income	$ 20,531	$ 11,601	$ 62,936		$ 46,452
Less: Preferred stock dividends	(102)	(92)	(306)	[1]	(276)
Income available to common shareholders	$ 20,429	$ 11,509	$ 62,630		$ 46,176
Denominator for earnings per common share calculation:
Weighted average common shares, basic	33,032	32,779	32,932		32,746
Effect of dilutive securities:
Preferred stock	510	510	510		510
Weighted average number of common shares, diluted	33,766	33,352	33,605		33,317
Basic earnings per common share:	$ 0.62	$ 0.35	$ 1.90		$ 1.41
Diluted earnings per common share:	$ 0.61	$ 0.35	$ 1.87		$ 1.39
Stock Options [Member]
Effect of dilutive securities:
Share based payment arrangements (in shares)	195	52	134		57
Restricted Stock [Member]
Effect of dilutive securities:
Share based payment arrangements (in shares)	29	11	29		4
[1]	First, second and third quarter fiscal year 2019 dividend payment of $.20 per common share or common share equivalent paid on June 14, 2018, September 6, 2018 and December 21, 2018, respectively.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 23, 2017	Dec. 29, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2018
Income Taxes [Abstract]
Income tax expense, change in tax rate effect of deferred assets and liabilities	$ 5.3
Income tax benefit, change in tax rate, reduction of basis points	$ 2.3
Unrecognized tax benefits		$ 6.9				$ 6.2
Interest and penalties accrued related to unrecognized tax benefits		0.5				$ 0.4
Income tax benefit from accounting adjustments		$ (2)
Federal tax rate			21.00%	35.00%	35.00%

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	Dec. 29, 2018	Mar. 31, 2018
Fair Value [Abstract]
Carrying amount of long-term debt ( including current portion)	$ 119.9	$ 148.1
Fair value of long-term debt (including current portion)	$ 119.9	$ 148.1

Cash Dividend (Details)

Cash Dividend (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	May 31, 2018	Dec. 29, 2018	Dec. 23, 2017
Cash Dividend [Abstract]
Common stock cash dividends per share declared	$ 0.20
Dividends to shareholders		$ 20,084	$ 17,966

Revenues (Narrrative) (Details)

Revenues (Narrrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 29, 2018	Mar. 31, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 17,274	$ 17,182
Deferred revenue, current	12,100	11,900
Deferred revenue, noncurrent	$ 5,200	$ 5,300
Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment term	15 days
Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment term	45 days
Tire Road Hazard Warranty [Member] | Minimum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognition, contract term	21 months
Tire Road Hazard Warranty [Member] | Maximum [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognition, contract term	36 months

Revenues (Narrrative) (Performa

Revenues (Narrrative) (Performance Obligation) (Details) $ in Millions	Dec. 29, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-12-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	$ 4
Deferred revenue, timing of satisfaction	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-03-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	$ 9.7
Deferred revenue, timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-03-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	$ 3.6
Deferred revenue, timing of satisfaction

Revenues (Schedule Of Changes I

Revenues (Schedule Of Changes In Deferred Revenue) (Details) $ in Thousands	9 Months Ended
	Dec. 29, 2018USD ($)
Revenues [Abstract]
Balance at March 31, 2018	$ 17,182
Deferral of revenue	12,647
Deferral of revenue from acquisitions	566
Recognition of revenue	(13,121)
Balance at December 29, 2018	$ 17,274

Revenues (Schedule Of Disaggreg

Revenues (Schedule Of Disaggregated Revenue By Product Group) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 29, 2018	Dec. 23, 2017	Dec. 29, 2018	Dec. 23, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 310,110	$ 285,730	$ 913,027	$ 842,237
Brakes [Member]
Disaggregation of Revenue [Line Items]
Revenue	38,028	33,313	124,677	109,917
Exhaust [Member]
Disaggregation of Revenue [Line Items]
Revenue	6,802	6,264	22,751	20,137
Steering [Member]
Disaggregation of Revenue [Line Items]
Revenue	23,188	22,778	71,894	69,642
Tires [Member]
Disaggregation of Revenue [Line Items]
Revenue	167,715	152,544	459,236	420,173
Maintenance [Member]
Disaggregation of Revenue [Line Items]
Revenue	73,582	70,043	232,062	219,834
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 795	$ 788	$ 2,407	$ 2,534