Monro (MNRO) 10-Q 4 Feb 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 26, 2020	Jan. 22, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 26, 2020
Current Fiscal Year End Date	--03-27
Document Fiscal Year Focus	2021
Document Transition Report	false
Entity File Number	0-19357
Entity Registrant Name	MONRO, INC.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	16-0838627
Entity Address, Address Line One	200 Holleder Parkway
Entity Address, City or Town	Rochester
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14615
City Area Code	585
Local Phone Number	647-6400
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MNRO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		33,427,406
Entity Central Index Key	0000876427
Amendment Flag	false
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020
Current assets:
Cash and cash equivalents	$ 24,959	$ 345,476
Accounts receivable	15,298	14,510
Federal and state income taxes receivable	6,764	8,056
Inventories	165,141	187,441
Other current assets	55,193	40,537
Total current assets	267,355	596,020
Property, plant and equipment	711,846	682,932
Less - Accumulated depreciation and amortization	(377,553)	(354,295)
Net property, plant and equipment	334,293	328,637
Finance lease and financing obligation assets, net	279,304	196,575
Operating lease assets, net	207,508	199,729
Goodwill	689,847	671,843
Intangible assets, net	27,080	29,781
Other non-current assets	19,375	20,688
Long-term deferred income tax assets	5,915	6,184
Total assets	1,830,677	2,049,457
Current liabilities:
Current portion of finance leases and financing obligations	37,146	32,257
Current portion of operating lease liabilities	30,749	30,181
Accounts payable	131,852	99,504
Accrued payroll, payroll taxes and other payroll benefits	16,303	14,429
Accrued insurance	49,323	43,387
Deferred revenue	12,139	13,129
Other current liabilities	33,034	22,049
Total current liabilities	310,546	254,936
Long-term debt	190,000	566,400
Long-term finance leases and financing obligations	372,553	298,373
Long-term operating lease liabilities	181,938	170,954
Other long-term liabilities	25,783	12,873
Long-term deferred income tax liabilities	12,306	10,069
Long-term income taxes payable	1,508	1,412
Total liabilities	1,094,634	1,315,017
Commitments and contingencies
Shareholders' equity:
Class C Convertible Preferred Stock, $1.50 par value, $0.064 conversion value, 150,000 shares authorized; 21,802 shares issued and outstanding	33	33
Common Stock, $0.01 par value, 65,000,000 shares authorized; 39,667,277 and 39,644,228 shares issued at December 26, 2020 and March 28, 2020, respectively	397	396
Treasury Stock, 6,359,871 shares, at cost	(108,729)	(108,729)
Additional paid-in capital	231,708	229,774
Accumulated other comprehensive loss	(7,399)	(6,889)
Retained earnings	620,033	619,855
Total shareholders' equity	736,043	734,440
Total liabilities and shareholders' equity	$ 1,830,677	$ 2,049,457

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 26, 2020	Mar. 28, 2020
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	39,667,277	39,644,228
Treasury stock shares	6,359,871	6,359,871

Consolidated Statements Of Inco

Consolidated Statements Of Income And Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Consolidated Statements Of Income And Comprehensive Income [Abstract]
Sales	$ 284,591	$ 329,281	$ 820,237	$ 970,458
Cost of sales, including distribution and occupancy costs	188,453	204,929	532,119	595,886
Gross profit	96,138	124,352	288,118	374,572
Operating, selling, general and administrative expenses	80,450	92,781	236,603	273,273
Operating income	15,688	31,571	51,515	101,299
Interest expense, net of interest income	6,819	6,983	21,526	21,100
Other income, net of other loss	(65)	(274)	(132)	(655)
Income before income taxes	8,934	24,862	30,121	80,854
Provision for income taxes	2,251	5,982	7,605	19,054
Net income	6,683	18,880	22,516	61,800
Other comprehensive loss:
Changes in pension, net of tax benefit	(170)	(89)	(510)	(266)
Other comprehensive loss	(170)	(89)	(510)	(266)
Comprehensive income	$ 6,513	$ 18,791	$ 22,006	$ 61,534
Earnings per common share:
Basic	$ 0.20	$ 0.56	$ 0.67	$ 1.85
Diluted	$ 0.20	$ 0.56	$ 0.67	$ 1.82
Weighted average number of common shares outstanding used in computing earnings per share:
Basic	33,307	33,274	33,296	33,234
Diluted	33,827	33,973	33,840	33,971

Consolidated Statements Of Chan

Consolidated Statements Of Changes in Shareholders' Equity - USD ($) $ in Thousands		Class C Convertible Preferred Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Class C Convertible Preferred Stock [Member]	Common Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member]	Treasury Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Total
Balance beginning at Mar. 30, 2019		$ 33	$ 33	$ 395	$ 395	$ (108,729)	$ (108,729)	$ 220,173	$ 220,173	$ (4,536)	$ (4,536)	$ (582)	$ 591,592	$ 592,174	$ (582)	$ 698,928	$ 699,510
Beginning balance, preferred shares at Mar. 30, 2019		22,000	22,000
Beginning balance, common shares at Mar. 30, 2019				39,511,000	39,511,000	6,360,000	6,360,000
Net income														61,800			61,800
Other comprehensive loss:
Pension liability adjustment											(266)						(266)
Cash dividends:
Preferred	[1]													(337)			(337)
Common	[1]													(21,944)			(21,944)
Dividend payable														(34)			(34)
Activity related to equity-based plans					$ 1				5,589								5,590
Activity related to equity-based plans, shares					129,000
Stock-based compensation									2,855								2,855
Balance ending at Dec. 28, 2019			$ 33		$ 396		$ (108,729)		228,617		(4,802)			631,077			746,592
Ending balance, preferred shares at Dec. 28, 2019			22,000
Ending balance, common shares at Dec. 28, 2019					39,640,000		6,360,000
Balance beginning at Sep. 28, 2019			$ 33		$ 396		$ (108,729)		226,948		(4,713)			619,641			733,576
Beginning balance, preferred shares at Sep. 28, 2019			22,000
Beginning balance, common shares at Sep. 28, 2019					39,628,000		6,360,000
Net income														18,880			18,880
Other comprehensive loss:
Pension liability adjustment											(89)						(89)
Cash dividends:
Preferred	[1]													(112)			(112)
Common	[1]													(7,321)			(7,321)
Dividend payable														(11)			(11)
Activity related to equity-based plans									701								701
Activity related to equity-based plans, shares					12,000
Stock-based compensation									968								968
Balance ending at Dec. 28, 2019			$ 33		$ 396		$ (108,729)		228,617		(4,802)			631,077			746,592
Ending balance, preferred shares at Dec. 28, 2019			22,000
Ending balance, common shares at Dec. 28, 2019					39,640,000		6,360,000
Balance beginning at Mar. 28, 2020			$ 33		$ 396		$ (108,729)		229,774		(6,889)			619,855			$ 734,440
Beginning balance, preferred shares at Mar. 28, 2020			22,000														21,802
Beginning balance, common shares at Mar. 28, 2020					39,645,000		6,360,000
Net income														22,516			$ 22,516
Other comprehensive loss:
Pension liability adjustment											(510)						(510)
Cash dividends:
Preferred	[1]													(337)			(337)
Common	[1]													(21,978)			(21,978)
Dividend payable														(23)			(23)
Activity related to equity-based plans					$ 1				(194)								(193)
Activity related to equity-based plans, shares					22,000
Stock-based compensation									2,128								2,128
Balance ending at Dec. 26, 2020			$ 33		$ 397		$ (108,729)		231,708		(7,399)			620,033			$ 736,043
Ending balance, preferred shares at Dec. 26, 2020			22,000														21,802
Ending balance, common shares at Dec. 26, 2020					39,667,000		6,360,000
Balance beginning at Sep. 26, 2020			$ 33		$ 397		$ (108,729)		231,095		(7,229)			620,800			$ 736,367
Beginning balance, preferred shares at Sep. 26, 2020			22,000
Beginning balance, common shares at Sep. 26, 2020					39,667,000		6,360,000
Net income														6,683			6,683
Other comprehensive loss:
Pension liability adjustment											(170)						(170)
Cash dividends:
Preferred	[1]													(112)			(112)
Common	[1]													(7,328)			(7,328)
Dividend payable														(10)			(10)
Stock-based compensation									613								613
Balance ending at Dec. 26, 2020			$ 33		$ 397		$ (108,729)		$ 231,708		$ (7,399)			$ 620,033			$ 736,043
Ending balance, preferred shares at Dec. 26, 2020			22,000														21,802
Ending balance, common shares at Dec. 26, 2020					39,667,000		6,360,000
[1]	Declared quarterly dividend of $ 0.22 per common share or common share equivalent paid in each of the first, second and third quarter of fiscal 2021 and fiscal 2020.

Consolidated Statements Of Ch_2

Consolidated Statements Of Changes in Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 26, 2020	Sep. 26, 2020	Jun. 27, 2020	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Dec. 26, 2020	Dec. 28, 2019
Consolidated Statements Of Changes In Shareholders' Equity [Abstract]
Common stock cash dividends per share	$ 0.22	$ 0.22	$ 0.22	$ 0.22	$ 0.22	$ 0.22
Pension liability adjustment - pre-tax	$ (226)			$ (118)			$ (679)	$ (353)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Cash flows from operating activities:
Net income	$ 22,516	$ 61,800
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation and amortization	57,598	47,329
Stock-based compensation expense	2,128	2,855
Gain on disposal of assets	(156)	(918)
Impairment of long-lived assets	99	78
Deferred income tax expense	4,041	7,426
Change in operating assets and liabilities (excluding acquisitions):
Accounts receivables	(788)	(2,356)
Inventories	23,787	(3,768)
Other current assets	7,848	(447)
Other non-current assets	2,288	19,265
Accounts payables	32,348	11,918
Accrued expenses	15,610	1,097
Federal and state income taxes payable	1,292	3,934
Other long-term liabilities	(9,491)	(22,954)
Long-term income taxes payable	96	572
Total adjustments	136,700	64,031
Net cash provided by operating activities	159,216	125,831
Cash flows from investing activities:
Capital expenditures	(39,214)	(42,226)
Acquisitions, net of cash acquired	(18,095)	(104,254)
Proceeds from the disposal of assets	388	426
Other	1,025	587
Net cash used for investing activities	(55,896)	(145,467)
Cash flows from financing activities:
Proceeds from borrowings		356,779
Principal payments on long-term debt, finance leases and financing obligations	(400,657)	(317,039)
Exercise of stock options	9	5,957
Dividends paid	(22,315)	(22,281)
Deferred financing costs	(874)	(1,168)
Net cash (used for) provided by financing activities	(423,837)	22,248
(Decrease) increase in cash	(320,517)	2,612
Cash and cash equivalents at beginning of period	345,476	6,214
Cash and cash equivalents at end of period	24,959	8,826
Supplemental information:
Leased assets obtained in exchange for finance lease liabilities	100,755	54,286
Leased assets obtained in exchange for operating lease liabilities	$ 20,364	$ 5,871

Description Of Business And Bas

Description Of Business And Basis Of Presentation	9 Months Ended
	Dec. 26, 2020
Description Of Business And Basis Of Presentation [Abstract]
Description Of Business And Basis Of Presentation	NOTE 1 – DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business Monro, Inc. and its wholly owned operating subsidiaries, Monro Service Corporation, Car-X, LLC, MNRO Holdings, LLC and MNRO Service Holdings, LLC (together, “Monro,” the “Company,” “we,” “us,” or “our”), are engaged principally in providing automotive undercar repair and tire sales and services in the United States. 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. Basis of Presentation The accompanying unaudited, condensed consolidated financial statements (“Consolidated Financial Statements”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statement presentation. The Consolidated Financial Statements include the consolidated accounts of the Company with all intercompany transactions eliminated. In the opinion of management, the information furnished herein reflects all adjustments (consisting of items of a normal recurring nature), which are necessary for a fair statement of the results for the interim period. The Consolidated Financial Statements should be read in conjunction with the Company’s consolidated financial statements and related Notes to Consolidated Financial Statements presented in the Company’s Annual Report on Form 10-K for the fiscal year ended March 28, 2020 (“fiscal 2020”). Operating results and cash flows for the quarter and nine months ended December 26, 2020 are not necessarily indicative of the results that may be expected for other interim periods or for the fiscal year ending March 27, 2021 (“fiscal 2021”). Fiscal Year 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 the Consolidated Financial Statements: “Quarter Ended Fiscal December 2020” September 27, 2020 – December 26, 2020 (13 weeks) “Quarter Ended Fiscal December 2019” September 29, 2019 – December 28, 2019 (13 weeks) “Nine Months Ended Fiscal December 2020” March 29, 2020 – December 26, 2020 (39 weeks) “Nine Months Ended Fiscal December 2019” March 31, 2019 – December 28, 2019 (39 weeks) Fiscal 2021 is a 52 week year. Reclassifications Certain amounts in these financial statements have been reclassified to maintain comparability among the periods presented. Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“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 was permitted. We adopted this guidance during the first quarter of fiscal 2021. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements. In December 2019, the FASB issued new accounting guidance intended to simplify the accounting for income taxes. The new guidance removes certain exceptions to the general principles in Accounting Standards Codification Topic 740 Income Taxes and amends existing guidance to improve consistent application. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2020. Early adoption is permitted. The adoption of this guidance is not expected to 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.

Impact Of The COVID-19 Pandemic

Impact Of The COVID-19 Pandemic	9 Months Ended
	Dec. 26, 2020
Impact Of The COVID-19 Pandemic [Abstract]
Impact Of The COVID-19 Pandemic	NOTE 2 – IMPACT OF THE COVID-19 PANDEMIC In response to the unprecedented and rapid spread of COVID-19 (coronavirus), many U.S. state governments, in states in which we operate, have taken preventative or protective actions, such as issuing stay-at-home restrictions and social distancing measures. State and local governments have ordered temporary closures of some businesses and numerous other businesses have temporarily closed voluntarily. Further, individuals’ ability to travel has been curtailed through mandated travel restrictions and may be further limited through additional voluntary or mandated closures of certain businesses. Substantially all Company-operated retail stores operated under a reduced schedule throughout the quarter to match lower demand. Given the uncertainties surrounding the impacts of the COVID-19 pandemic on our future financial condition, results of operations and cash flows, we have taken a number of actions in response to prevailing uncertain market conditions. In order to enhance our liquidity position, we took a precautionary measure and borrowed $ 350 million available to us under our Credit Facility (as defined in Note 9 below) in March 2020. We subsequently repaid the $ 350 million previously borrowed during the nine months ended December 26, 2020. Additionally, we negotiated rent deferrals for a significant number of our stores, as well as other rent reductions. See additional discussion of these rent deferrals and reductions under Note 10.

Acquisitions

Acquisitions	9 Months Ended
	Dec. 26, 2020
Acquisitions [Abstract]
Acquisitions	NOTE 3 – ACQUISITIONS Monro’s acquisitions are strategic moves in our plan to fill in and expand our presence in our existing and contiguous markets, expand into new 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. Fiscal 2021 On December 6, 2020 , we acquired 17 retail tire and automotive repair stores located in California from Fred Allen Enterprises, Inc. for $ 17.4 million. These stores will operate under the Tire Choice name. The acquisition was financed through our Credit Facility. The results of operations for the acquisition are included in our financial results from the acquisition date. Prior to this acquisition, our acquisition activity was paused due to the impact of the COVID-19 pandemic. The acquisition resulted in goodwill related to, among other things, growth opportunities, synergies and economies of scale expected from combining the business with ours, as well as unidentifiable intangible assets. All of the goodwill is expected to be deductible for tax purposes. We have recorded a customer list intangible asset with a useful life of seven years at its estimated fair value of approximately $ 0.4 million. We expensed all costs related to the acquisition in the quarter ended December 26, 2020. The total costs related to the completed acquisition were $ 0.1 million and these costs are included in the Consolidated Statements of Income and Comprehensive Income primarily under operating, selling, general and administrative expenses. Sales related to the completed acquisition totaled $ 0.9 million for the period from acquisition date through December 26, 2020. 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 consideration transferred and net identifiable liabilities assumed were recorded as goodwill. The preliminary allocation of the purchase price as of December 26, 2020, with respect to the acquisition during the quarter, was as follows: As of Acquisition Date (Dollars in thousands) Inventory $ 1,220 Other current assets 149 Property, plant and equipment 683 Finance lease and financing obligation assets, net 4,328 Operating lease assets, net 9,531 Intangible asset 418 Other non-current assets 31 Long-term deferred income tax assets 1,371 Total assets acquired 17,731 Current portion of finance leases and financing obligations 657 Current portion of operating lease liabilities 1,067 Deferred revenue 697 Other current liabilities 4 Long-term finance leases and financing obligations 7,361 Long-term operating lease liabilities 7,984 Other long-term liabilities 536 Total liabilities assumed 18,306 Total net identifiable liabilities assumed $ ( 575 ) Total consideration transferred $ 17,426 Less: total net identifiable liabilities assumed ( 575 ) Goodwill $ 18,001 Fiscal 2020 During the first nine months of fiscal 2020, we acquired the following businesses for an aggregate purchase price of $ 103.7 million. The acquisitions were financed through our Credit Facility. The results of operations for these acquisitions are included in our financial results from the respective acquisition dates.  On November 17, 2019 , we acquired 18 retail tire and automotive repair stores located in Nevada and Idaho from Nevada Tire Holdings, LLC and Idaho Tire Holdings, LLC. These stores operate under the Tire Choice name.  On October 27, 2019 , we acquired six retail tire and automotive repair stores located in California from S&S Unlimited, Inc. These stores will operate under the Tire Choice name.  On October 27, 2019 , we acquired three retail tire and automotive repair stores located in California from Lloyd’s Tire Service, Inc. These stores will operate under the Tire Choice name.  On August 25, 2019 , we acquired one retail tire and automotive repair store located in Louisiana from Atlas Tire Center, Inc. This store operates under the Tire Choice name.  On August 25, 2019 , we acquired two retail tire and automotive repair stores located in Louisiana from LRZ3 Auto, LLC. These stores operate under the Tire Choice name.  On August 25, 2019 , we acquired one retail tire and automotive repair store located in Louisiana from T-Boy’s Tire and Automotive, LLC. This store operates under the Tire Choice name.  On August 25, 2019 , we acquired two retail tire and automotive repair stores located in Louisiana from Twin Tire & Auto Care, Inc. These stores operate under the Tire Choice name.  On August 25, 2019 , we acquired one retail tire and automotive repair store located in Louisiana from Twin Tire & Auto Care Team, Inc. This store operates under the Tire Choice name.  On August 25, 2019 , we acquired one retail tire and automotive repair store located in Louisiana from Scotty’s Tire & Automotive, Inc. This store operates under the Tire Choice name.  On June 23, 2019 , we acquired two retail tire and automotive repair stores located in California from BAW LLC. These stores operate under the Tire Choice name.  On May 19, 2019 , we acquired 40 retail tire and automotive repair stores and one distribution center located in California from Certified Tire & Service Centers, Inc. These stores operate under the Tire Choice name.  On March 31, 2019 , we acquired 12 retail tire and automotive repair stores located in Louisiana from Allied Discount Tire & Brake, Inc. These stores operate 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 customer lists. We expensed all costs related to acquisitions in the nine months ended December 28, 2019. The total costs related to completed acquisitions were $ 0.4 million and $ 1.2 million for the quarter and nine months ended December 28, 2019, respectively. These costs are included in the Consolidated Statements of Income and Comprehensive Income primarily under operating, selling, general and administrative expenses. Sales for the fiscal 2020 acquired entities for the quarter and nine months ended December 28, 2019 totaled $ 18.5 million and $ 38.7 million, respectively, for the period from acquisition date through December 28, 2019. 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 consideration transferred and net identifiable liabilities assumed recorded as goodwill as follows: As of Acquisition Date (Dollars in thousands) Inventories $ 4,433 Other current assets 706 Property, plant and equipment 2,405 Finance lease and financing obligation assets, net 29,147 Operating lease assets, net 42,680 Intangible assets 2,847 Other non-current assets 375 Long-term deferred income tax assets 4,870 Total assets acquired 87,463 Current portion of finance leases and financing obligations 2,672 Current portion of operating lease liabilities 4,416 Deferred revenue 1,618 Other current liabilities 358 Long-term finance leases and financing obligations 36,225 Long-term operating lease liabilities 43,668 Other long-term liabilities 1,747 Total liabilities assumed 90,704 Total net identifiable liabilities assumed $ ( 3,241 ) Total consideration transferred $ 103,692 Less: total net identifiable liabilities assumed ( 3,241 ) Goodwill $ 106,933 The following are the intangible assets acquired and their respective fair value and weighted average useful life: As of Acquisition Date Dollars in thousands Weighted Average Useful Life Customer lists $ 2,847 7 years As a result of the updated purchase price allocations for the entities acquired during the fiscal year ended March 28, 2020, 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 measurement period adjustments were not material to the Consolidated Balance Sheet as of December 26, 2020 and the Consolidated Statements of Income and Comprehensive Income for the quarter and nine months ended December 26, 2020. We continue to refine the valuation data and estimates primarily related to inventory, warranty reserves, intangible assets and real property leases for the fiscal 2021 acquisition which closed during the quarter ended December 26, 2020, and expect to complete the valuations no later than the first anniversary date of the 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. 26, 2020
Earnings Per Common Share [Abstract]
Earnings Per Common Share	NOTE 4 – 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 weighted average number of shares of common stock outstanding. Diluted earnings per common share amounts are calculated by dividing net income by the weighted average number of shares of common stock and common stock equivalents outstanding. Common stock equivalents represent shares issuable upon the assumed exercise of common stock options outstanding. A reconciliation of basic and diluted earnings per common share for the quarters and nine months ended December are as follows: Quarter Ended Nine Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 (Amounts in thousands, except per share data) Numerator for earnings per common share calculation: Net income $ 6,683 $ 18,880 $ 22,516 $ 61,800 Less: Preferred stock dividends ( 112 ) ( 112 ) ( 337 ) ( 337 ) Income available to common shareholders $ 6,571 $ 18,768 $ 22,179 $ 61,463 Denominator for earnings per common share calculation: Weighted average common shares, basic 33,307 33,274 33,296 33,234 Effect of dilutive securities: Preferred stock 510 510 510 510 Stock options — 165 16 196 Restricted stock 10 24 18 31 Weighted average common shares, diluted 33,827 33,973 33,840 33,971 Basic earnings per common share: $ 0.20 $ 0.56 $ 0.67 $ 1.85 Diluted earnings per common share: $ 0.20 $ 0.56 $ 0.67 $ 1.82 The computation of diluted earnings per common share excludes the effect of the assumed exercise of approximately 672,000 and 519,000 stock options for the quarter and nine months ended December 26, 2020, respectively, and 177,000 and 169,000 stock options for the quarter and nine months ended December 28, 2019, 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. 26, 2020
Income Taxes [Abstract]
Income Taxes	NOTE 5 – INCOME TAXES For the quarter and nine months ended December 26, 2020, our effective income tax rate was 25.2 %, compared to 24.1 % and 23.6 % for the quarter and nine months ended December 28, 2019, respectively, as discrete items, primarily related to employee stock-based compensation as well as those that are individually insignificant, resulted in a larger tax rate benefit in the prior year periods.

Fair Value

Fair Value	9 Months Ended
	Dec. 26, 2020
Fair Value [Abstract]
Fair Value	NOTE 6 – FAIR VALUE Long-term debt had a carrying amount that approximates a fair value of $ 190.0 million as of December 26, 2020, as compared to a carrying amount and a fair value of $ 566.4 million as of March 28, 2020. The carrying value of our debt approximated its fair value due to the variable interest nature of the debt.

Cash Dividend

Cash Dividend	9 Months Ended
	Dec. 26, 2020
Cash Dividend [Abstract]
Cash Dividend	NOTE 7 – CASH DIVIDEND We paid dividends of $ 22.3 million during the nine months ended December 26, 2020. 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. Under our Credit Facility, we may declare, make or pay any dividend or distribution up to $ 38.5 million in the aggregate for the period from June 30, 2020 to June 30, 2021 if we are in compliance with the financial covenants and other restrictions in the Credit Facility, as amended. For additional information regarding our Credit Facility, see Note 9.

Revenues

Revenues	9 Months Ended
	Dec. 26, 2020
Revenues [Abstract]
Revenues	NOTE 8 – REVENUES Automotive undercar repair and tire sales and 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 and tire sales and 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 second table 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 26, 2020 and March 28, 2020 were $ 16.9 million and $ 18.5 million, respectively, of which $ 12.1 million and $ 13.1 million, respectively, are reported in deferred revenue and $ 4.8 million and $ 5.4 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 28, 2020 to December 26 , 2020 : Dollars in thousands Balance at March 28, 2020 $ 18,506 Deferral of revenue 10,713 Deferral of revenue from acquisitions 1,225 Recognition of revenue ( 13,524 ) Balance at December 26, 2020 $ 16,920 As of December 26, 2020, we expect to recognize $ 4.0 million of deferred revenue related to road hazard warranty agreements in the remainder of fiscal 2021, $ 9.6 million of deferred revenue during our fiscal year ending March 26, 2022, and $ 3.3 million of 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 is as an agent and the net amount retained is recorded as sales. (Included in the Tires product group in the following table.) The following table summarizes disaggregated revenue by product group: Quarter Ended Nine Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 (Dollars in thousands) Revenues: Brakes $ 29,962 $ 38,261 $ 94,015 $ 131,575 Exhaust 5,391 6,256 15,533 20,317 Steering 20,464 24,987 60,497 77,397 Tires 162,442 179,086 454,217 491,956 Maintenance 65,648 79,889 193,754 246,704 Other 684 802 2,221 2,509 Total $ 284,591 $ 329,281 $ 820,237 $ 970,458

Long-Term Debt

Long-Term Debt	9 Months Ended
	Dec. 26, 2020
Long-Term Debt [Abstract]
Long-Term Debt	NOTE 9 – LONG-TERM DEBT In April 2019, we entered into a new five year $ 600 million revolving credit facility agreement with eight banks (the “Credit Facility”). Interest only is payable monthly throughout the Credit Facility’s term. The borrowing capacity for the Credit Facility of $ 600 million includes an accordion feature permitting us to request an increase in availability of up to an additional $ 250 million. On June 11, 2020, we entered into a First Amendment to the Credit Facility (the “First Amendment”), which, among other things, amended the terms of certain of the financial and restrictive covenants in the credit agreement through the first quarter of fiscal 2022 to provide us with additional flexibility to operate our business. The First Amendment permanently amended the interest rate charged on borrowings to be based on the greater of adjusted one-month LIBOR or 0.75 %. For the period from June 30, 2020 to June 30, 2021, the minimum interest rate spread charged on borrowings will be 225 basis points over LIBOR. Additionally, during the same period, we may declare, make or pay any dividend or distribution up to $ 38.5 million in the aggregate and the acquisition of stores or other businesses up to $ 100 million in the aggregate are permitted if we are in compliance with the financial covenants and other restrictions in the First Amendment and Credit Facility. Except as amended by the First Amendment, the remaining terms of the credit agreement remain in full force and effect. In order to enhance our liquidity position during the COVID-19 pandemic, we took a precautionary measure and borrowed $ 350 million available to us under our Credit Facility in March 2020. We subsequently repaid the $ 350 million previously borrowed during the nine months ended December 26, 2020. The net availability under the Credit Facility was $ 376.4 million at December 26, 2020. We were in compliance with all debt covenants at December 26, 2020.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 26, 2020
Commitments and Contingencies [Abstract]
Commitments and Contingencies	NOTE 10 – COMMITMENTS AND CONTINGENCIES Payments due by period under long-term debt, other financing instruments and commitments are as follows: Within 2 to 4 to After Total 1 Year 3 Years 5 Years 5 Years (Dollars in thousands) Principal payments on long-term debt $ 190,000 — — $ 190,000 — Finance lease commitments/financing obligations (a) 525,740 $ 55,001 $ 109,489 101,296 $ 259,954 Operating lease commitments (a) 244,508 36,396 66,097 54,180 87,835 Accrued rent 2,664 2,492 141 14 17 Other liabilities 1,333 800 533 — — Total $ 964,245 $ 94,689 $ 176,260 $ 345,490 $ 347,806 _______________ (a) Finance and operating lease commitments represent future undiscounted lease payments and include $ 112.6 million and $ 59.4 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised. During fiscal 2021, we negotiated rent deferrals for a significant number of our stores, with repayment at later dates, primarily in the fourth quarter of fiscal 2021 and the first and second quarters of fiscal 2022. We began repaying deferred rent primarily in the third quarter of fiscal 2021. These concessions provide a deferral of rent payments with no substantive changes to the original contract. Consistent with updated guidance from the FASB in April 2020, we have elected to treat the rent deferrals as accrued liabilities. The accrued rent reflected in the table above includes $ 1.6 million related to rent deferrals and $ 1.1 million due to timing of other lease related expenses. We will continue to recognize expense during the deferral periods. In addition, during fiscal 2021, we negotiated rent reductions with certain landlords on approximately 23 % of our lease contracts in exchange for extending our current lease term. As these agreements represent substantive changes to our contractual obligations, the leases were remeasured. As a result, during fiscal 2021, finance lease and financing obligation assets, net and finance leases and financing obligations were increased by $ 67.5 million and $ 63.8 million, respectively, and operating lease assets, net and operating lease liabilities were increased by $ 16.4 million and $ 20.1 million, respectively. The negotiated terms were generally consistent with terms of normal renewal agreements. As of the date of this report, there were no material changes to our contingencies since March 28, 2020, as reported in our Form 10-K for the fiscal year ended March 28, 2020.

Description Of Business And B_2

Description Of Business And Basis Of Presentation (Policy)	9 Months Ended
	Dec. 26, 2020
Description Of Business And Basis Of Presentation [Abstract]
Description of business	Description of Business Monro, Inc. and its wholly owned operating subsidiaries, Monro Service Corporation, Car-X, LLC, MNRO Holdings, LLC and MNRO Service Holdings, LLC (together, “Monro,” the “Company,” “we,” “us,” or “our”), are engaged principally in providing automotive undercar repair and tire sales and services in the United States. 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.
Basis Of Presentation	Basis of Presentation The accompanying unaudited, condensed consolidated financial statements (“Consolidated Financial Statements”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statement presentation. The Consolidated Financial Statements include the consolidated accounts of the Company with all intercompany transactions eliminated. In the opinion of management, the information furnished herein reflects all adjustments (consisting of items of a normal recurring nature), which are necessary for a fair statement of the results for the interim period. The Consolidated Financial Statements should be read in conjunction with the Company’s consolidated financial statements and related Notes to Consolidated Financial Statements presented in the Company’s Annual Report on Form 10-K for the fiscal year ended March 28, 2020 (“fiscal 2020”). Operating results and cash flows for the quarter and nine months ended December 26, 2020 are not necessarily indicative of the results that may be expected for other interim periods or for the fiscal year ending March 27, 2021 (“fiscal 2021”).
Fiscal year	Fiscal Year 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 the Consolidated Financial Statements: “Quarter Ended Fiscal December 2020” September 27, 2020 – December 26, 2020 (13 weeks) “Quarter Ended Fiscal December 2019” September 29, 2019 – December 28, 2019 (13 weeks) “Nine Months Ended Fiscal December 2020” March 29, 2020 – December 26, 2020 (39 weeks) “Nine Months Ended Fiscal December 2019” March 31, 2019 – December 28, 2019 (39 weeks) Fiscal 2021 is a 52 week year.
Reclassifications	Reclassifications Certain amounts in these financial statements have been reclassified to maintain comparability among the periods presented.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“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 was permitted. We adopted this guidance during the first quarter of fiscal 2021. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements. In December 2019, the FASB issued new accounting guidance intended to simplify the accounting for income taxes. The new guidance removes certain exceptions to the general principles in Accounting Standards Codification Topic 740 Income Taxes and amends existing guidance to improve consistent application. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2020. Early adoption is permitted. The adoption of this guidance is not expected to 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.

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Dec. 26, 2020
Fiscal 2020 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule Of Purchase Price Allocation	As of Acquisition Date (Dollars in thousands) Inventories $ 4,433 Other current assets 706 Property, plant and equipment 2,405 Finance lease and financing obligation assets, net 29,147 Operating lease assets, net 42,680 Intangible assets 2,847 Other non-current assets 375 Long-term deferred income tax assets 4,870 Total assets acquired 87,463 Current portion of finance leases and financing obligations 2,672 Current portion of operating lease liabilities 4,416 Deferred revenue 1,618 Other current liabilities 358 Long-term finance leases and financing obligations 36,225 Long-term operating lease liabilities 43,668 Other long-term liabilities 1,747 Total liabilities assumed 90,704 Total net identifiable liabilities assumed $ ( 3,241 ) Total consideration transferred $ 103,692 Less: total net identifiable liabilities assumed ( 3,241 ) Goodwill $ 106,933
Schedule Of Intangible Assets Acquired	As of Acquisition Date Dollars in thousands Weighted Average Useful Life Customer lists $ 2,847 7 years
Fiscal 2021 Acquisitions [Member]
Business Acquisition [Line Items]
Schedule Of Purchase Price Allocation	As of Acquisition Date (Dollars in thousands) Inventory $ 1,220 Other current assets 149 Property, plant and equipment 683 Finance lease and financing obligation assets, net 4,328 Operating lease assets, net 9,531 Intangible asset 418 Other non-current assets 31 Long-term deferred income tax assets 1,371 Total assets acquired 17,731 Current portion of finance leases and financing obligations 657 Current portion of operating lease liabilities 1,067 Deferred revenue 697 Other current liabilities 4 Long-term finance leases and financing obligations 7,361 Long-term operating lease liabilities 7,984 Other long-term liabilities 536 Total liabilities assumed 18,306 Total net identifiable liabilities assumed $ ( 575 ) Total consideration transferred $ 17,426 Less: total net identifiable liabilities assumed ( 575 ) Goodwill $ 18,001

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Dec. 26, 2020
Earnings Per Common Share [Abstract]
Reconciliation Of Basic And Diluted Earnings Per Share	Quarter Ended Nine Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 (Amounts in thousands, except per share data) Numerator for earnings per common share calculation: Net income $ 6,683 $ 18,880 $ 22,516 $ 61,800 Less: Preferred stock dividends ( 112 ) ( 112 ) ( 337 ) ( 337 ) Income available to common shareholders $ 6,571 $ 18,768 $ 22,179 $ 61,463 Denominator for earnings per common share calculation: Weighted average common shares, basic 33,307 33,274 33,296 33,234 Effect of dilutive securities: Preferred stock 510 510 510 510 Stock options — 165 16 196 Restricted stock 10 24 18 31 Weighted average common shares, diluted 33,827 33,973 33,840 33,971 Basic earnings per common share: $ 0.20 $ 0.56 $ 0.67 $ 1.85 Diluted earnings per common share: $ 0.20 $ 0.56 $ 0.67 $ 1.82

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Dec. 26, 2020
Revenues [Abstract]
Schedule Of Changes In Deferred Revenue	Dollars in thousands Balance at March 28, 2020 $ 18,506 Deferral of revenue 10,713 Deferral of revenue from acquisitions 1,225 Recognition of revenue ( 13,524 ) Balance at December 26, 2020 $ 16,920
Schedule Of Disaggregated Revenue By Product Group	Quarter Ended Nine Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 (Dollars in thousands) Revenues: Brakes $ 29,962 $ 38,261 $ 94,015 $ 131,575 Exhaust 5,391 6,256 15,533 20,317 Steering 20,464 24,987 60,497 77,397 Tires 162,442 179,086 454,217 491,956 Maintenance 65,648 79,889 193,754 246,704 Other 684 802 2,221 2,509 Total $ 284,591 $ 329,281 $ 820,237 $ 970,458

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Dec. 26, 2020
Commitments and Contingencies [Abstract]
Schedule Of Payments Due By Period	Within 2 to 4 to After Total 1 Year 3 Years 5 Years 5 Years (Dollars in thousands) Principal payments on long-term debt $ 190,000 — — $ 190,000 — Finance lease commitments/financing obligations (a) 525,740 $ 55,001 $ 109,489 101,296 $ 259,954 Operating lease commitments (a) 244,508 36,396 66,097 54,180 87,835 Accrued rent 2,664 2,492 141 14 17 Other liabilities 1,333 800 533 — — Total $ 964,245 $ 94,689 $ 176,260 $ 345,490 $ 347,806 _______________ (a) Finance and operating lease commitments represent future undiscounted lease payments and include $ 112.6 million and $ 59.4 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised.

Impact Of The COVID-19 Pandem_2

Impact Of The COVID-19 Pandemic (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 28, 2020	Dec. 26, 2020
Impact Of The COVID-19 Pandemic [Abstract]
Revolving credit facility borrowed	$ 350
Repayment of revolving credit facility		$ 350

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Thousands	Dec. 06, 2020USD ($)item	Dec. 28, 2019USD ($)	Dec. 26, 2020USD ($)property	Dec. 28, 2019USD ($)warehousestoreitem
Business Acquisition [Line Items]
Store acquisitions related to acquisition growth strategy | property			5
Total consideration transferred				$ 103,700
Costs related to completed acquisitions		$ 400		1,200
Sales for acquired entities		18,500		$ 38,700
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
Fred Allen Enterprises, Inc. [Member]
Business Acquisition [Line Items]
Total consideration transferred	$ 17,400
Acquisition date	Dec. 6, 2020
Number of stores acquired | item	17
Costs related to completed acquisitions			$ 100
Sales for acquired entities			$ 900
Nevada Tire Holdings, LLC and Idaho Tire Holdings, LLC [Member]
Business Acquisition [Line Items]
Acquisition date			Nov. 17, 2019
Number of stores acquired | item				18
S & S Unlimited, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date			Oct. 27, 2019
Number of stores acquired | item				6
Lloyd’s Tire Service, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date			Oct. 27, 2019
Number of stores acquired | item				3
Atlas Tire Center, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date			Aug. 25, 2019
Number of stores acquired | store				1
LRZ3 Auto, LLC. [Member]
Business Acquisition [Line Items]
Acquisition date			Aug. 25, 2019
Number of stores acquired | store				2
T-Boy's Tire and Automotive, LLC. [Member]
Business Acquisition [Line Items]
Acquisition date			Aug. 25, 2019
Number of stores acquired | store				1
Twin Tire & Auto Care, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date			Aug. 25, 2019
Number of stores acquired | store				2
Twin Tire & Auto Care Team, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date			Aug. 25, 2019
Number of stores acquired | store				1
Scotty's Tire & Automotive, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date			Aug. 25, 2019
Number of stores acquired | store				1
BAW LLC [Member]
Business Acquisition [Line Items]
Acquisition date			Jun. 23, 2019
Number of stores acquired | store				2
Certified Tire And Service Centers, Inc. [Member]
Business Acquisition [Line Items]
Acquisition date			May 19, 2019
Number of stores acquired | store				40
Number of distribution centers acquired | warehouse				1
Allied Discount Tire And Brake, Inc [Member]
Business Acquisition [Line Items]
Acquisition date			Mar. 31, 2019
Number of stores acquired | store				12
Fiscal 2020 Acquisitions [Member]
Business Acquisition [Line Items]
Total consideration transferred				$ 103,692
Fiscal 2020 Acquisitions [Member] | Customer Lists [Member]
Business Acquisition [Line Items]
Weighted average useful life			7 years
Intangible assets		$ 2,847		$ 2,847
Fiscal 2021 Acquisitions [Member]
Business Acquisition [Line Items]
Total consideration transferred			$ 17,426
Fiscal 2021 Acquisitions [Member] | Customer Lists [Member]
Business Acquisition [Line Items]
Weighted average useful life			7 years
Intangible assets			$ 400

Acquisitions (Schedule Of Purch

Acquisitions (Schedule Of Purchase Price Allocation) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Mar. 28, 2020
Purchase price of acquisitions allocation
Total consideration transferred		$ 103,700
Goodwill	$ 689,847		$ 671,843
Fiscal 2020 Acquisitions [Member]
Purchase price of acquisitions allocation
Inventories		4,433
Other current assets		706
Property, plant and equipment		2,405
Finance lease and financing obligation assets, net		29,147
Operating lease assets, net		42,680
Intangible assets		2,847
Other non-current assets		375
Long-term deferred income tax assets		4,870
Total assets acquired		87,463
Current portion of finance leases and financing obligations		2,672
Current portion of operating lease liabilities		4,416
Deferred revenue		1,618
Other current liabilities		358
Long-term finance leases and financing obligations		36,225
Long-term operating lease liabilities		43,668
Other long-term liabilities		1,747
Total liabilities assumed		90,704
Total net identifiable liabilities assumed		(3,241)
Total consideration transferred		103,692
Less: total net identifiable liabilities assumed		(3,241)
Goodwill		$ 106,933
Fiscal 2021 Acquisitions [Member]
Purchase price of acquisitions allocation
Inventories	1,220
Other current assets	149
Property, plant and equipment	683
Finance lease and financing obligation assets, net	4,328
Operating lease assets, net	9,531
Intangible assets	418
Other non-current assets	31
Long-term deferred income tax assets	1,371
Total assets acquired	17,731
Current portion of finance leases and financing obligations	657
Current portion of operating lease liabilities	1,067
Deferred revenue	697
Other current liabilities	4
Long-term finance leases and financing obligations	7,361
Long-term operating lease liabilities	7,984
Other long-term liabilities	536
Total liabilities assumed	18,306
Total net identifiable liabilities assumed	(575)
Total consideration transferred	17,426
Less: total net identifiable liabilities assumed	(575)
Goodwill	$ 18,001

Acquisitions (Schedule Of Intan

Acquisitions (Schedule Of Intangible Assets Acquired) (Details) - Customer Lists [Member] - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Fiscal 2020 Acquisitions [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets		$ 2,847
Weighted average useful life	7 years
Fiscal 2021 Acquisitions [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 400
Weighted average useful life	7 years

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Earnings Per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	672,000	177,000	519,000	169,000

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. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Numerator for earnings per common share calculation:
Net income		$ 6,683	$ 18,880	$ 22,516	$ 61,800
Less: Preferred stock dividends	[1]	(112)	(112)	(337)	(337)
Income available to common shareholders		$ 6,571	$ 18,768	$ 22,179	$ 61,463
Denominator for earnings per common share calculation:
Weighted average common shares, basic		33,307	33,274	33,296	33,234
Effect of dilutive securities:
Preferred stock		510	510	510	510
Weighted average common shares, diluted		33,827	33,973	33,840	33,971
Basic earnings per common share:		$ 0.20	$ 0.56	$ 0.67	$ 1.85
Diluted earnings per common share:		$ 0.20	$ 0.56	$ 0.67	$ 1.82
Stock Options [Member]
Effect of dilutive securities:
Share based payment arrangements (in shares)			165	16	196
Restricted Stock [Member]
Effect of dilutive securities:
Share based payment arrangements (in shares)		10	24	18	31
[1]	Declared quarterly dividend of $ 0.22 per common share or common share equivalent paid in each of the first, second and third quarter of fiscal 2021 and fiscal 2020.

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 28, 2019
Income Taxes [Abstract]
Effective tax rate	25.20%	24.10%	23.60%

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($) $ in Millions	Dec. 26, 2020	Mar. 28, 2020
Fair Value [Abstract]
Carrying amount of long-term debt ( including current portion)	$ 190	$ 566.4

Cash Dividend (Narrative) (Deta

Cash Dividend (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Dividends to shareholders	$ 22,315	$ 22,281
First Amendment To Credit Facility [Member]
Debt instrument, Allowable dividend or distribution in next year	$ 38,500

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2020	Mar. 28, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 16,920	$ 18,506
Deferred revenue, current	12,139	13,129
Deferred revenue, noncurrent	$ 4,800	$ 5,400
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 (Narrative) (Performan

Revenues (Narrative) (Performance Obligation) (Details) $ in Millions	Dec. 26, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-09-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	$ 4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	9.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-03-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	$ 3.3

Revenues (Schedule Of Changes I

Revenues (Schedule Of Changes In Deferred Revenue) (Details) $ in Thousands	9 Months Ended
	Dec. 26, 2020USD ($)
Revenues [Abstract]
Balance	$ 18,506
Deferral of revenue	10,713
Deferral of revenue from acquisitions	1,225
Recognition of revenue	(13,524)
Balance	$ 16,920

Revenues (Schedule Of Disaggreg

Revenues (Schedule Of Disaggregated Revenue By Product Group) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Disaggregation of Revenue [Line Items]
Revenues	$ 284,591	$ 329,281	$ 820,237	$ 970,458
Brakes [Member]
Disaggregation of Revenue [Line Items]
Revenues	29,962	38,261	94,015	131,575
Exhaust [Member]
Disaggregation of Revenue [Line Items]
Revenues	5,391	6,256	15,533	20,317
Steering [Member]
Disaggregation of Revenue [Line Items]
Revenues	20,464	24,987	60,497	77,397
Tires [Member]
Disaggregation of Revenue [Line Items]
Revenues	162,442	179,086	454,217	491,956
Maintenance [Member]
Disaggregation of Revenue [Line Items]
Revenues	65,648	79,889	193,754	246,704
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 684	$ 802	$ 2,221	$ 2,509

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)	3 Months Ended	9 Months Ended
	Mar. 28, 2020USD ($)	Dec. 26, 2020USD ($)entity
Debt Instrument [Line Items]
Revolving credit facility borrowed	$ 350,000,000
Repayment of revolving credit facility		$ 350,000,000
Net availability under the credit facility		$ 376,400,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility term		5 years
Revolving credit facility agreement		$ 600,000,000
Number of banks involved in credit facility | entity		8
Credit facility, Potential increased availability		$ 250,000,000
First Amendment To Credit Facility [Member]
Debt Instrument [Line Items]
Allowable dividend or distribution		38,500,000
Allowable acquisitions		$ 100,000,000
Interest rate		0.75%
First Amendment To Credit Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate over LIBOR on the facility		2.25%

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2020	Mar. 28, 2020
Rent deferrals	$ 1,600
Timing of lease related expenses	1,100
Finance lease and financing obligation assets, net	279,304	$ 196,575
Operating lease assets, net	$ 207,508	$ 199,729
Re-negotiated Rental Payments [Member]
Percent of leases re-negotiated	23.00%
Finance lease and financing obligation assets, net	$ 67,500
Finance lease liability	63,800
Operating lease assets, net	16,400
Operating lease obligations	$ 20,100

Commitments and Contingencies_3

Commitments and Contingencies (Schedule Of Payments Due By Period) (Details) $ in Thousands	9 Months Ended
	Dec. 26, 2020USD ($)
Commitments and Contingencies [Abstract]
Principal payments on long-term debt, Total	$ 190,000
Principal payments on long-term debt, 4 to 5 years	190,000
Finance lease commitments/financing obligations, Total	525,740	[1]
Finance lease commitments/financing obligations, Within 1 Year	55,001	[1]
Finance lease commitments/financing obligations, 2 to 3 Years	109,489	[1]
Finance lease commitments/financing obligations, 4 to 5 Years	101,296	[1]
Finance lease commitments/financing obligations, After 5 Years	259,954	[1]
Operating lease commitments, Total	244,508	[1]
Operating lease commitments, Within 1 year	36,396	[1]
Operating lease commitments, 2 to 3 years	66,097	[1]
Operating lease commitments, 4 to 5 years	54,180	[1]
Operating lease commitments, After 5 years	87,835	[1]
Accrued rent, Total	2,664
Accrued rent, Within 1 year	2,492
Accrued rent, 2 to 3 Years	141
Accrued rent, 4 to 5 Years	14
Accrued rent, After 5 Years	17
Other liabilities, Total	1,333
Other liabilities, Within 1 year	800
Other liabilities, 2 to 3 years	533
Other liabilities, 4 to 5 years
Other liabilities, After 5 years
Contractual commitments, Total	964,245
Contractual commitments, Within 1 year	94,689
Contractual commitments, 2 to 3 years	176,260
Contractual commitments, 4 to 5 years	345,490
Contractual commitments, After 5 years	347,806
Operating lease payments, related to options to extend, reasonably certain of being exercised	112,600
Finance lease payments, related to options to extend, reasonable certain of being exercised	$ 59,400
[1]	Finance and operating lease commitments represent future undiscounted lease payments and include $ 112.6 million and $ 59.4 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised.