Monro (MNRO) 10-Q 25 Oct 23 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 23, 2023	Oct. 20, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 23, 2023
Current Fiscal Year End Date	--03-30
Document Fiscal Year Focus	2024
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		31,445,708
Entity Central Index Key	0000876427
Amendment Flag	false
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 23, 2023	Mar. 25, 2023
Current assets
Cash and equivalents	$ 9,053	$ 4,884
Accounts receivable	14,296	13,294
Federal and state income taxes receivable	20
Inventories	146,679	147,397
Other current assets	77,806	92,892
Total current assets	247,854	258,467
Property and equipment, net	289,568	304,989
Finance lease and financing obligation assets, net	197,296	217,174
Operating lease assets, net	204,158	211,101
Goodwill	736,435	736,457
Intangible assets, net	14,893	16,562
Assets held for sale	5,855
Other non-current assets	29,389	29,365
Long-term deferred income tax assets	1,321	2,762
Total assets	1,726,769	1,776,877
Current liabilities
Current portion of finance leases and financing obligations	39,463	39,982
Current portion of operating lease liabilities	38,545	37,520
Accounts payable	280,350	261,724
Federal and state income taxes payable		541
Accrued payroll, payroll taxes and other payroll benefits	14,129	15,951
Accrued insurance	50,545	47,741
Deferred revenue	15,427	15,422
Other current liabilities	33,908	30,296
Total current liabilities	472,367	449,177
Long-term debt	55,000	105,000
Long-term finance leases and financing obligations	269,666	295,281
Long-term operating lease liabilities	184,163	191,107
Other long-term liabilities	10,437	10,721
Long-term deferred income tax liabilities	34,784	30,460
Long-term income taxes payable	209	209
Total liabilities	1,026,626	1,081,955
Commitments and contingencies - Note 9
Shareholders' equity
Class C Convertible Preferred stock	29	29
Common stock	400	400
Treasury stock	(205,648)	(205,648)
Additional paid-in capital	252,212	250,702
Accumulated other comprehensive loss	(3,928)	(4,115)
Retained earnings	657,078	653,554
Total shareholders' equity	700,143	694,922
Total liabilities and shareholders' equity	$ 1,726,769	$ 1,776,877

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical)	Sep. 23, 2023 $ / shares shares	Mar. 25, 2023 $ / shares shares
Consolidated Balance Sheets [Abstract]
Class C convertible preferred stock shares authorized	150,000	150,000
Class C convertible preferred stock par value | $ / shares	$ 1.50	$ 1.50
Class C convertible preferred stock, conversion ratio	61.275	23.389
Class C convertible preferred stock shares issued	19,664	19,664
Class C convertible preferred stock shares outstanding	19,664	19,664
Common stock shares authorized	65,000,000	65,000,000
Common stock par value | $ / shares	$ 0.01	$ 0.01
Common stock shares issued	40,005,970	39,966,401
Treasury stock shares	8,561,121	8,561,121

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 23, 2023	Sep. 24, 2022	Sep. 23, 2023	Sep. 24, 2022
Consolidated Statements of Income and Comprehensive Income [Abstract]
Sales	$ 322,091	$ 329,818	$ 649,059	$ 679,353
Cost of sales, including distribution and occupancy costs	207,118	213,083	419,691	440,429
Gross profit	114,973	116,735	229,368	238,924
Operating, selling, general and administrative expenses	92,618	93,262	189,664	189,197
Operating income	22,355	23,473	39,704	49,727
Interest expense, net of interest income	4,801	5,705	10,009	11,364
Other income, net	(34)	(98)	(92)	(178)
Income before income taxes	17,588	17,866	29,787	38,541
Provision for income taxes	4,716	4,745	8,086	12,936
Net income	12,872	13,121	21,701	25,605
Other comprehensive income (loss)
Changes in pension, net of tax	93	(99)	187	(198)
Other comprehensive income (loss)	93	(99)	187	(198)
Comprehensive income	$ 12,965	$ 13,022	$ 21,888	$ 25,407
Earnings per share:
Basic	$ 0.40	$ 0.40	$ 0.68	$ 0.77
Diluted	$ 0.40	$ 0.40	$ 0.68	$ 0.77
Weighted average common shares outstanding
Basic	31,434	32,204	31,427	32,844
Diluted	32,272	32,729	32,112	33,349

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders’ Equity - 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. 26, 2022	$ 29	$ 399	$ (108,729)	$ 244,577	$ (4,494)	$ 651,124	$ 782,906
Beginning balance, preferred shares at Mar. 26, 2022	20,000
Beginning balance, common shares at Mar. 26, 2022		39,907,000	6,360,000
Net income						25,605	25,605
Other comprehensive income (loss)
Pension liability adjustment					(198)		(198)
Dividends declared
Preferred						(258)	(258)
Common						(18,304)	(18,304)
Dividend payable						(97)	(97)
Repurchase of stock			$ (71,215)				(71,215)
Repurchase of stock, shares			1,617,000
Stock options and restricted stock		$ 1		286			287
Stock options and restricted stock, shares		50,000
Stock-based compensation				3,044			3,044
Balance ending at Sep. 24, 2022	$ 29	$ 400	$ (179,944)	247,907	(4,692)	658,070	721,770
Ending balance, preferred shares at Sep. 24, 2022	20,000
Ending balance, common shares at Sep. 24, 2022		39,957,000	7,977,000
Balance beginning at Jun. 25, 2022	$ 29	$ 399	$ (125,945)	245,689	(4,593)	654,097	769,676
Beginning balance, preferred shares at Jun. 25, 2022	20,000
Beginning balance, common shares at Jun. 25, 2022		39,920,000	6,773,000
Net income						13,121	13,121
Other comprehensive income (loss)
Pension liability adjustment					(99)		(99)
Dividends declared
Preferred						(129)	(129)
Common						(8,967)	(8,967)
Dividend payable						(52)	(52)
Repurchase of stock			$ (53,999)				(53,999)
Repurchase of stock, shares			1,204,000
Stock options and restricted stock		$ 1		327			328
Stock options and restricted stock, shares		37,000
Stock-based compensation				1,891			1,891
Balance ending at Sep. 24, 2022	$ 29	$ 400	$ (179,944)	247,907	(4,692)	658,070	721,770
Ending balance, preferred shares at Sep. 24, 2022	20,000
Ending balance, common shares at Sep. 24, 2022		39,957,000	7,977,000
Balance beginning at Mar. 25, 2023	$ 29	$ 400	$ (205,648)	250,702	(4,115)	653,554	$ 694,922
Beginning balance, preferred shares at Mar. 25, 2023	20,000						19,664
Beginning balance, common shares at Mar. 25, 2023		39,966,000	8,561,000
Net income						21,701	$ 21,701
Other comprehensive income (loss)
Pension liability adjustment					187		187
Dividends declared
Preferred						(466)	(466)
Common						(17,601)	(17,601)
Dividend payable						(110)	(110)
Stock options and restricted stock				(413)			(413)
Stock options and restricted stock, shares		40,000
Stock-based compensation				1,923			1,923
Balance ending at Sep. 23, 2023	$ 29	$ 400	$ (205,648)	252,212	(3,928)	657,078	$ 700,143
Ending balance, preferred shares at Sep. 23, 2023	20,000						19,664
Ending balance, common shares at Sep. 23, 2023		40,006,000	8,561,000
Balance beginning at Jun. 24, 2023	$ 29	$ 400	$ (205,648)	250,981	(4,021)	653,427	$ 695,168
Beginning balance, preferred shares at Jun. 24, 2023	20,000
Beginning balance, common shares at Jun. 24, 2023		39,979,000	8,561,000
Net income						12,872	12,872
Other comprehensive income (loss)
Pension liability adjustment					93		93
Dividends declared
Preferred						(337)	(337)
Common						(8,804)	(8,804)
Dividend payable						(80)	(80)
Stock options and restricted stock				(153)			(153)
Stock options and restricted stock, shares		27,000
Stock-based compensation				1,384			1,384
Balance ending at Sep. 23, 2023	$ 29	$ 400	$ (205,648)	$ 252,212	$ (3,928)	$ 657,078	$ 700,143
Ending balance, preferred shares at Sep. 23, 2023	20,000						19,664
Ending balance, common shares at Sep. 23, 2023		40,006,000	8,561,000

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders’ Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Sep. 23, 2023	Sep. 24, 2022	Sep. 23, 2023	Sep. 24, 2022
Consolidated Statements of Changes in Shareholders’ Equity [Abstract]
Common stock cash dividends per share	$ 0.28	$ 0.28	$ 0.56	$ 0.56

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 23, 2023	Sep. 24, 2022
Operating activities
Net income	$ 21,701	$ 25,605
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	36,535	39,360
Share-based compensation expense	1,923	3,044
Gain on disposal of assets	(1,401)	(1,185)
Gain on divestiture		(2,394)
Deferred income tax expense	5,699	(564)
Change in operating assets and liabilities (excluding acquisitions and divestitures)
Accounts receivable	(1,002)	(1,791)
Inventories	894	(6,078)
Other current assets	9,772	(1,392)
Other non-current assets	17,211	18,343
Accounts payable	18,626	52,109
Accrued expenses	7,980	5,426
Federal and state income taxes payable	(561)	6,885
Other long-term liabilities	(19,070)	(17,143)
Long-term income taxes payable		64
Cash provided by operating activities	98,307	120,289
Investing activities
Capital expenditures	(15,705)	(19,583)
Acquisitions, net of cash acquired		(311)
Proceeds from divestiture		56,586
Deferred proceeds received from divestiture	7,311
Proceeds from the disposal of assets	1,727	1,225
Cash (used for) provided by investing activities	(6,667)	37,917
Financing activities
Proceeds from borrowings	39,263	102,176
Principal payments on long-term debt, finance leases and financing obligations	(108,893)	(168,759)
Repurchase of stock		(71,215)
Exercise of stock options	17
Dividends paid	(17,858)	(18,562)
Cash used for financing activities	(87,471)	(156,360)
Increase in cash and equivalents	4,169	1,846
Cash and equivalents at beginning of period	4,884	7,948
Cash and equivalents at end of period	9,053	9,794
Supplemental information
Leased assets reduced in exchange for reduced finance lease liabilities	(4,283)	(9,348)
Leased assets obtained in exchange for new operating lease liabilities	$ 11,149	$ 20,179

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Sep. 23, 2023
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 direct and indirect subsidiaries (together, “Monro”, the “Company”, “we”, “us”, or “our”), are engaged principally in providing automotive undercar repair and tire replacement sales and tire related services in the United States. Monro had 1,298 Company-operated retail stores located in 32 states and 77 franchised locations as of September 23, 2023. A certain number of our retail locations also service commercial customers. Our locations that serve commercial customers generally operate consistently with our other retail locations, except that the sales mix for these locations includes a higher number of commercial tires. Monro’s operations are organized and managed as one single segment designed to offer to our customers replacement tires and tire related services, automotive undercar repair services as well as a broad range of routine maintenance services, primarily on passenger cars, light trucks and vans. We also provide other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension and wheel alignment. Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial statements. While these statements reflect all adjustments (consisting of items of a normal recurring nature) that are, in the opinion of management, necessary for a fair statement of the results of the interim period, they do not include all of the information and footnotes required by United States generally accepted accounting principles (“GAAP”) for complete financial statement presentation. The consolidated financial statements should be read in conjunction with the financial statement disclosures in our Form 10-K for the fiscal year ended March 25, 2023. We use the same significant accounting policies in preparing quarterly and annual financial statements. For a description of our significant accounting policies followed in the preparation of the financial statements, see Note 1 of our Form 10-K for the fiscal year ended March 25, 2023. Due to the seasonal nature of our business, quarterly operating results and cash flows are not necessarily indicative of the results that may be expected for other interim periods or the full year. Fiscal year We operate on a 52 / 53 week fiscal year ending on the last Saturday in March. Fiscal year 2024 covers 53 weeks and fiscal year 2023 covers 52 weeks. Unless specifically indicated otherwise, any references to “2024” or “fiscal 2024” and “2023” or “fiscal 2023” relate to the years ending March 30, 2024 and March 25, 2023, respectively. Recent accounting pronouncements In September 2022, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance which requires certain disclosure for supplier finance programs used in connection with the purchase of goods and services. We adopted this guidance during the first quarter of fiscal 2024, other than the roll forward information disclosure which we expect to adopt during the first quarter of the fiscal year ending March 29, 2025. The adoption of this guidance did not have a material impact on our consolidated financial statements. In October 2021, the FASB issued new accounting guidance which requires an acquiring entity to recognize and measure contract assets and contract liabilities acquired in a business combination as if they entered into the original contract at the same time and same date as the acquiree. We adopted this guidance during the first quarter of fiscal 2024. 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 (“ASC”)) and the SEC did not or are not expected to have a material effect on our consolidated financial statements. Supplemental information Property and equipment, net : Property and equipment balances are shown on the Consolidated Balance Sheets net of accumulated depreciation of $ 434.6 million and $ 426.7 million as of September 23, 2023 and March 25, 2023, respectively. Assets held for sale We classify long-lived assets to be sold as held for sale in the period in which all of the following criteria are met: management, having the authority to approve the action, commits to a plan to sell the asset; the asset is available for immediate sale in its present condition subject only to terms that are usual and customary for the sale of such asset; an active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated; the sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond our control extend the period of time required to sell the asset beyond one year; the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. We initially measure a long-lived asset that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset until the date of sale. Upon determining that a long-lived asset meets the criteria to be classified as held for sale, we cease depreciation and report long-lived assets, if material, as Assets held for sale in our Consolidated Balance Sheets. We determined that assets related to the planned sale of our corporate headquarters, as announced in June 2023, met the criteria to be classified as held for sale as of September 23, 2023.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Sep. 23, 2023
Acquisitions and Divestitures [Abstract]
Acquisitions and Divestitures	Note 2 – Acquisitions and Divestitures 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. During 2023, we acquired six retail tire and automotive repair stores. We accounted for the 2023 acquisitions as business combinations using the acquisition method of accounting in accordance with the FASB ASC Topic 805, “Business Combinations.” See Note 2 of our Form 10-K for the fiscal year ended March 25, 2023 for additional information. We continue to refine the valuation data and estimates primarily related to inventory, warranty reserves, intangible assets, real property leases, and certain liabilities for the 2023 acquisitions 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. Divestiture On June 17, 2022, we completed the divestiture of assets relating to our wholesale tire operations ( seven locations) and internal tire distribution operations to American Tire Distributors, Inc. (“ATD”). We received $ 62 million from ATD at the closing of the transaction, of which $ 5 million is currently being held in escrow. The remaining $ 40 million (“Earnout”) of the total consideration of $ 102 million will be paid quarterly over approximately two years based on our tire purchases from or through ATD pursuant to a distribution and fulfillment agreement with ATD. We received $ 7.3 million of the Earnout during the first six months of fiscal 2024 and $ 24.0 million of the Earnout is outstanding as of September 23, 2023. Under a distribution agreement between us and ATD, ATD agreed to supply and sell tires to retail locations we own. After ATD satisfies the Earnout payments, our company-owned retail stores will be required to purchase at least 90 percent of their forecasted requirements for certain passenger car tires, light truck replacement tires, and medium truck tires from or through ATD. Any tires that ATD is unable to supply or fulfill from those categories will be excluded from the calculation of our requirements for tires. The initial term of the distribution agreement is five years after the completion of the Earnout Period, with automatic 12 -month renewal periods thereafter. The divestiture enables us to focus our resources on our core retail business operations. In connection with this transaction, we recognized a pre-tax gain of $ 2.4 million within OSG&A expenses, as finalized in June 2022. We also expensed $ 0.4 million of closing costs and costs associated with the closing of a related warehouse within OSG&A expenses during the six months ended September 24, 2022. We finalized the impact of these associated closing costs in addition to the subsequent gain on the sale of related warehouses during the remainder of fiscal 2023. See Note 2 of our Form 10-K for the fiscal year ended March 25, 2023 for additional information. Additionally, during the three months ended September 24, 2022, we incurred $ 1.3 million in costs in connection with restructuring and elimination of certain executive management positions upon completion of the divestiture. The divestiture did not meet the criteria to be reported as discontinued operations in our consolidated financial statements as our decision to divest this business did not represent a strategic shift that would have a major effect on our operations and financial results. For additional information regarding discrete tax impacts because of the divestiture, see Note 4 .

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Sep. 23, 2023
Earnings per Common Share [Abstract]
Earnings per Common Share	Note 3 – Earnings per Common Share Basic earnings per common share amounts are calculated 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 outstanding adjusted to give effect to potentially dilutive securities. Earnings per Common Share Three Months Ended Six Months Ended (thousands, except per share data) September 23, 2023 September 24, 2022 September 23, 2023 September 24, 2022 Numerator for earnings per common share calculation: Net income $ 12,872 $ 13,121 $ 21,701 $ 25,605 Less: Preferred stock dividends ( 337 ) ( 129 ) ( 466 ) ( 258 ) Income available to common shareholders $ 12,535 $ 12,992 $ 21,235 $ 25,347 Denominator for earnings per common share calculation: Weighted average common shares - basic 31,434 32,204 31,427 32,844 Effect of dilutive securities: Preferred stock 779 460 620 460 Stock options 1 1 1 — Restricted stock 58 64 64 45 Weighted average common shares - diluted 32,272 32,729 32,112 33,349 Basic earnings per common share $ 0.40 $ 0.40 $ 0.68 $ 0.77 Diluted earnings per common share $ 0.40 $ 0.40 $ 0.68 $ 0.77 Weighted average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted earnings per share.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 23, 2023
Income Taxes [Abstract]
Income Taxes	Note 4 – Income Taxes For the three months and six months ended September 23, 2023, our effective income tax rate was 26.8 percent and 27.1 percent, respectively, compared to 26.6 percent and 33.6 percent for the three months and six months ended September 24, 2022 , respectively. Our effective income tax rate for the three months and six months ended September 23, 2023 was higher by 1.0 percent and 1.1 percent, respectively, and was higher by 0.5 percent and 0.7 percent for the three months and six months ended September 24, 2022, respectively, due to the discrete tax impact related to share-based awards. Our effective income tax rate for the six months ended September 24, 2022 was higher by 6.9 percent because of discrete tax impacts from the divestiture of assets relating to our wholesale tire operations and internal tire distribution operations as well as the revaluation of deferred tax balances due to changes in the mix of pre-tax income in various U.S. state jurisdictions because of the divestiture.

Fair Value

Fair Value	6 Months Ended
	Sep. 23, 2023
Fair Value [Abstract]
Fair Value	Note 5 – Fair Value Long-term debt had a carrying amount that approximates a fair value of $ 55.0 million as of September 23, 2023, as compared to a carrying amount and a fair value of $ 105.0 million as of March 25, 2023. The carrying value of our debt approximated its fair value due to the variable interest nature of the debt.

Cash Dividend

Cash Dividend	6 Months Ended
	Sep. 23, 2023
Cash Dividend [Abstract]
Cash Dividend	Note 6 – Cash Dividend We paid dividends of $ 17.9 million during the six months ended September 23, 2023. The declaration 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 contractual restrictions, and such other factors as the Board of Directors deems relevant. Under our Credit Facility, there are no restrictions on our ability to declare dividends as long as we are in compliance with the covenants in the Credit Facility. For additional information regarding our Credit Facility, see Note 8 .

Revenues

Revenues	6 Months Ended
	Sep. 23, 2023
Revenue [Abstract]
Revenue	Note 7 – Revenues Automotive undercar repair, tire replacement sales and tire related 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 replacement sales and tire related 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 may vary depending on the customer and generally are 30 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. Revenues Three Months Ended Six Months Ended (thousands) September 23, 2023 September 24, 2022 September 23, 2023 September 24, 2022 Tires (a) $ 153,825 $ 157,905 $ 305,953 $ 330,969 Maintenance 90,233 90,622 183,146 180,914 Brakes 46,241 47,062 93,839 96,217 Steering 25,998 27,613 54,361 57,594 Exhaust 5,139 5,921 10,355 12,196 Other 655 695 1,405 1,463 Total $ 322,091 $ 329,818 $ 649,059 $ 679,353 (a) Includes the sale of tire road hazard warranty agreements and tire delivery commissions. Revenue from the sale of tire road hazard warranty agreements 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 deferred revenue balances at September 23, 2023 and March 25, 2023 were $ 22.2 million and $ 22.4 million, respectively, of which $ 15.4 million and $ 15.4 million, respectively, are reported in Deferred revenue and $ 6.8 million and $ 7.0 million, respectively, are reported in Other long-term liabilities in our Consolidated Balance Sheets. Changes in Deferred Revenue (thousands) Balance at March 25, 2023 $ 22,354 Deferral of revenue 10,977 Recognition of revenue ( 11,165 ) Balance at September 23, 2023 $ 22,166 As of September 23, 2023 , we expect to recognize $ 9.3 million of deferred revenue related to road hazard warranty agreements in the remainder of fiscal 2024, $ 9.8 million of deferred revenue during our fiscal year ending March 29, 2025 , and $ 3.1 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.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Sep. 23, 2023
Long-Term Debt [Abstract]
Long-Term Debt	Note 8 – Long-term Debt Credit Facility In April 2019, we entered into a 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. The Credit Facility initially bore interest at 75 to 200 basis points over the London Interbank Offered Rate (“LIBOR”) (or replacement index) or at the prime rate, depending on the type of borrowing and the rates then in effect. 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 the fiscal year ended March 26, 2022 to provide us with additional flexibility to operate our business. The First Amendment amended the interest rate charged on borrowings to be based on the greater of adjusted one-month LIBOR or 0.75 percent. For the period from June 30, 2020 to June 30, 2021, the minimum interest rate spread charged on borrowings was 225 basis points over LIBOR. Additionally, during the same period, we were permitted to 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 if we were in compliance with the financial covenants and other restrictions in the First Amendment and Credit Facility. As of July 1, 2021, the ability of our Board of Directors to declare, make or pay any dividend or distribution and our ability to acquire stores or other businesses is no longer restricted by the terms of the Credit Facility, as amended by the First Amendment. The Credit Facility requires fees payable quarterly throughout the term between 0.125 percent and 0.35 percent of the amount of the average net availability under the Credit Facility during the preceding quarter. On October 5, 2021, we entered into a Second Amendment to the Credit Facility (the “Second Amendment”). The Second Amendment amended the interest rate charged on borrowings to be based on the greater of adjusted one-month LIBOR or 0.00 percent. In addition, the Second Amendment updated certain provisions regarding a successor interest rate to LIBOR. On November 10, 2022, we entered into a Third Amendment to the Credit Facility (the “Third Amendment”). The Third Amendment, among other things, extended the term of the Credit Facility to November 10, 2027 and amended certain of the financial terms in the Credit Agreement, as amended by the Second Amendment. The Third Amendment amended the interest rate charged on borrowings to be based on 0.10 percent over the Secured Overnight Financing Rate (“SOFR”), replacing the previously used LIBOR. In addition, one additional bank was added to the bank syndicate for a total of nine banks now within the syndicate. Except as amended by the First Amendment, Second Amendment and Third Amendment, the remaining terms of the credit agreement remain in full force and effect. Within the Credit Facility, we have a sub-facility of $ 80 million available for the purpose of issuing standby letters of credit. The sub-facility requires fees aggregating 87.5 to 212.5 basis points annually of the face amount of each standby letter of credit, payable quarterly in arrears. There was a $ 30.1 million outstanding letter of credit at September 23, 2023. We are required to maintain an interest coverage ratio, as defined in the Credit Facility, of at least 1.55 to 1. In addition, our ratio of adjusted debt to EBITDAR, as defined in the Credit Facility, cannot exceed 4.75 to 1, subject to certain exceptions under the Credit Facility. We were in compliance with all debt covenants at September 23, 2023. There was $ 55.0 million outstanding and $ 514.9 million available under the Credit Facility at September 23, 2023.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 23, 2023
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 9 – Commitments and Contingencies Commitments Commitments Due by Period Within 2 to 4 to After (thousands) Total 1 Year 3 Years 5 Years 5 Years Principal payments on long-term debt $ 55,000 $ 55,000 Finance lease commitments/financing obligations (a) 379,113 $ 52,156 $ 95,158 83,223 $ 148,576 Operating lease commitments (a) 257,036 45,611 80,038 58,737 72,650 Total $ 691,149 $ 97,767 $ 175,196 $ 196,960 $ 221,226 (a) Finance and operating lease commitments represent future undiscounted lease payments and include $ 80.1 million and $ 53.0 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised. Contingencies We are currently a party to various claims and legal proceedings incidental to the conduct of our business. If management believes that a loss arising from any of these matters is probable and can reasonably be estimated, we will record the amount of the loss, or the minimum estimated liability when the loss is estimated using a range, and no point within the range is more probable than another. As additional information becomes available, any potential liability related to these matters is assessed and the estimates are revised, if necessary. Litigation is subject to inherent uncertainties, and unfavorable rulings could occur and may include monetary damages. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on the financial position and results of operations of the period in which any such ruling occurs, or in future periods.

Supplier Finance Program

Supplier Finance Program	6 Months Ended
	Sep. 23, 2023
Supplier Finance Program [Abstract]
Supplier Finance Program	Note 10 – Supplier Finance Program We facilitate a voluntary supply chain financing program to provide our suppliers with the opportunity to sell receivables due from us (our accounts payable) to a participating financial institution at the sole discretion of both the supplier and the financial institution. Should a supplier choose to participate in the program, it may receive payment from the financial institution in advance of agreed payment terms; our responsibility is limited to making payments to the respective financial institution on the terms originally negotiated with our supplier, which are generally for a term of 360 days. We have concluded that the program is a trade payable program and not indicative of a borrowing arrangement. Our outstanding supplier obligations eligible for advance payment under the program totaled $ 187.9 million, $ 167.3 million, and $ 86.9 million as of September 23, 2023, March 25, 2023, and September 24, 2022, respectively, and are included within Accounts Payable on our Consolidated Balance Sheets. Our outstanding supplier obligations do not represent actual receivables sold by our suppliers to the financial institutions, which may be lower.

Share Repurchase

Share Repurchase	6 Months Ended
	Sep. 23, 2023
Share Repurchase [Abstract]
Share Repurchase	Note 11 – Share Repurchase We periodically repurchase shares of our common stock under a board-authorized repurchase program through open market transactions. We did not repurchase any of our shares during the six months ended September 23, 2023. Share Repurchase Activity Three Months Ended Six Months Ended (thousands, except per share data) September 23, 2023 September 24, 2022 September 23, 2023 September 24, 2022 Number of shares purchased — 1,203.8 — 1,617.4 Average price paid per share $ — $ 44.82 $ — $ 44.00 Total repurchased $ — $ 53,962 $ — $ 71,166

Equity Capital Structure Reclas

Equity Capital Structure Reclassification	6 Months Ended
	Sep. 23, 2023
Equity Capital Structure Reclassification [Abstract]
Equity Capital Structure Reclassification	Note 12 – Equity Capital Structure Reclassification On May 12, 2023, we entered into a reclassification agreement (the “Reclassification Agreement”) with the holders (the “Class C Holders”) of our Class C Convertible Preferred Stock (the “Class C Preferred Stock”) to reclassify our equity capital structure to eliminate the Class C Preferred Stock. Under the Reclassification Agreement, after receiving shareholder approval on August 15, 2023, we filed amendments to our certificate of incorporation (the “Certificate of Incorporation”) to create a mandatory conversion of any outstanding shares of Class C Preferred Stock prior to an agreed sunset date of the earliest of (i) August 15, 2026; (ii) the first business day immediately prior to the record date established for the determination of the shareholders of the Company entitled to vote at the Company’s 2026 annual meeting of shareholders; and (iii) the date on which the Class C Holders, in the aggregate, cease to beneficially own at least 50 % of all shares of the Class C Preferred Stock issued and outstanding as of May 12, 2023. In exchange for this sunset of the Class C Preferred Stock, the conversion rate of Class C Preferred Stock was adjusted so that each share of Class C Preferred Stock will convert into 61.275 shares of common stock (the “adjusted conversion rate”), an increase from the prior conversion rate of 23.389 shares of common stock for each share of Class C Preferred Stock under the Certificate of Incorporation. At the end of the sunset period, all shares of Class C Preferred Stock remaining outstanding will be automatically converted into shares of common stock at the adjusted conversion rate. In addition, the liquidation preference for the Class C Preferred Stock was amended to provide that, upon a liquidation event, each holder of Class C Preferred Stock would be entitled to receive, for each share of Class C Preferred Stock held by the holder upon a liquidation, dissolution, or winding up of the affairs of the Company, an amount equal to the greater of $ 1.50 per share and the amount the holder would have received had each share of Class C Preferred Stock been converted to shares of common stock immediately prior to the liquidation, dissolution, or winding up. The Reclassification Agreement also provides that, during the sunset period, the Class C Holders will have the right to appoint one member of the Board of Directors. This designee is expected to be Peter J. Solomon, who is one of the Company’s current directors and one of the Class C Holders. Additionally, on August 15, 2023, our shareholders voted to approve an amendment to our Certificate of Incorporation to declassify the Board of Directors. Under this amendment, the class of directors standing for election at our 2024 annual meeting of shareholders will stand for election for one-year terms expiring at the 2025 annual meeting of shareholders. Starting with the 2025 annual meeting of shareholders, the Board of Directors will no longer be classified, and all the directors elected at that meeting (and each meeting thereafter) will be elected for a term expiring at the next annual meeting of shareholders. We have determined the amendments to the Class C Preferred Stock, because of the Reclassification Agreement, should be accounted for as a modification.

Description of Business and B_2

Description of Business and Basis of Presentation (Policy)	6 Months Ended
	Sep. 23, 2023
Description of Business and Basis of Presentation [Abstract]
Description of Business	Description of business Monro, Inc. and its direct and indirect subsidiaries (together, “Monro”, the “Company”, “we”, “us”, or “our”), are engaged principally in providing automotive undercar repair and tire replacement sales and tire related services in the United States. Monro had 1,298 Company-operated retail stores located in 32 states and 77 franchised locations as of September 23, 2023. A certain number of our retail locations also service commercial customers. Our locations that serve commercial customers generally operate consistently with our other retail locations, except that the sales mix for these locations includes a higher number of commercial tires. Monro’s operations are organized and managed as one single segment designed to offer to our customers replacement tires and tire related services, automotive undercar repair services as well as a broad range of routine maintenance services, primarily on passenger cars, light trucks and vans. We also provide other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension and wheel alignment.
Basis of Presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial statements. While these statements reflect all adjustments (consisting of items of a normal recurring nature) that are, in the opinion of management, necessary for a fair statement of the results of the interim period, they do not include all of the information and footnotes required by United States generally accepted accounting principles (“GAAP”) for complete financial statement presentation. The consolidated financial statements should be read in conjunction with the financial statement disclosures in our Form 10-K for the fiscal year ended March 25, 2023. We use the same significant accounting policies in preparing quarterly and annual financial statements. For a description of our significant accounting policies followed in the preparation of the financial statements, see Note 1 of our Form 10-K for the fiscal year ended March 25, 2023. Due to the seasonal nature of our business, quarterly operating results and cash flows are not necessarily indicative of the results that may be expected for other interim periods or the full year.
Fiscal Year	Fiscal year We operate on a 52 / 53 week fiscal year ending on the last Saturday in March. Fiscal year 2024 covers 53 weeks and fiscal year 2023 covers 52 weeks. Unless specifically indicated otherwise, any references to “2024” or “fiscal 2024” and “2023” or “fiscal 2023” relate to the years ending March 30, 2024 and March 25, 2023, respectively.
Recent Accounting Pronouncements	Recent accounting pronouncements In September 2022, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance which requires certain disclosure for supplier finance programs used in connection with the purchase of goods and services. We adopted this guidance during the first quarter of fiscal 2024, other than the roll forward information disclosure which we expect to adopt during the first quarter of the fiscal year ending March 29, 2025. The adoption of this guidance did not have a material impact on our consolidated financial statements. In October 2021, the FASB issued new accounting guidance which requires an acquiring entity to recognize and measure contract assets and contract liabilities acquired in a business combination as if they entered into the original contract at the same time and same date as the acquiree. We adopted this guidance during the first quarter of fiscal 2024. 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 (“ASC”)) and the SEC did not or are not expected to have a material effect on our consolidated financial statements.
Property and Equipment, Net	Property and equipment, net : Property and equipment balances are shown on the Consolidated Balance Sheets net of accumulated depreciation of $ 434.6 million and $ 426.7 million as of September 23, 2023 and March 25, 2023, respectively.
Assets Held for Sale	Assets held for sale We classify long-lived assets to be sold as held for sale in the period in which all of the following criteria are met: management, having the authority to approve the action, commits to a plan to sell the asset; the asset is available for immediate sale in its present condition subject only to terms that are usual and customary for the sale of such asset; an active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated; the sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year, except if events or circumstances beyond our control extend the period of time required to sell the asset beyond one year; the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. We initially measure a long-lived asset that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset until the date of sale. Upon determining that a long-lived asset meets the criteria to be classified as held for sale, we cease depreciation and report long-lived assets, if material, as Assets held for sale in our Consolidated Balance Sheets. We determined that assets related to the planned sale of our corporate headquarters, as announced in June 2023, met the criteria to be classified as held for sale as of September 23, 2023.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Sep. 23, 2023
Earnings per Common Share [Abstract]
Reconciliation of Basic and Diluted Earnings per Share	Earnings per Common Share Three Months Ended Six Months Ended (thousands, except per share data) September 23, 2023 September 24, 2022 September 23, 2023 September 24, 2022 Numerator for earnings per common share calculation: Net income $ 12,872 $ 13,121 $ 21,701 $ 25,605 Less: Preferred stock dividends ( 337 ) ( 129 ) ( 466 ) ( 258 ) Income available to common shareholders $ 12,535 $ 12,992 $ 21,235 $ 25,347 Denominator for earnings per common share calculation: Weighted average common shares - basic 31,434 32,204 31,427 32,844 Effect of dilutive securities: Preferred stock 779 460 620 460 Stock options 1 1 1 — Restricted stock 58 64 64 45 Weighted average common shares - diluted 32,272 32,729 32,112 33,349 Basic earnings per common share $ 0.40 $ 0.40 $ 0.68 $ 0.77 Diluted earnings per common share $ 0.40 $ 0.40 $ 0.68 $ 0.77

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Sep. 23, 2023
Revenue [Abstract]
Schedule of Disaggregated Revenue by Product Group	Revenues Three Months Ended Six Months Ended (thousands) September 23, 2023 September 24, 2022 September 23, 2023 September 24, 2022 Tires (a) $ 153,825 $ 157,905 $ 305,953 $ 330,969 Maintenance 90,233 90,622 183,146 180,914 Brakes 46,241 47,062 93,839 96,217 Steering 25,998 27,613 54,361 57,594 Exhaust 5,139 5,921 10,355 12,196 Other 655 695 1,405 1,463 Total $ 322,091 $ 329,818 $ 649,059 $ 679,353 (a) Includes the sale of tire road hazard warranty agreements and tire delivery commissions.
Schedule of Changes in Deferred Revenue	Changes in Deferred Revenue (thousands) Balance at March 25, 2023 $ 22,354 Deferral of revenue 10,977 Recognition of revenue ( 11,165 ) Balance at September 23, 2023 $ 22,166

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Sep. 23, 2023
Commitments and Contingencies [Abstract]
Schedule of Payments Due by Period	Commitments Due by Period Within 2 to 4 to After (thousands) Total 1 Year 3 Years 5 Years 5 Years Principal payments on long-term debt $ 55,000 $ 55,000 Finance lease commitments/financing obligations (a) 379,113 $ 52,156 $ 95,158 83,223 $ 148,576 Operating lease commitments (a) 257,036 45,611 80,038 58,737 72,650 Total $ 691,149 $ 97,767 $ 175,196 $ 196,960 $ 221,226 (a) Finance and operating lease commitments represent future undiscounted lease payments and include $ 80.1 million and $ 53.0 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised.

Share Repurchase (Tables)

Share Repurchase (Tables)	6 Months Ended
	Sep. 23, 2023
Share Repurchase [Abstract]
Schedule of Share Repurchase Activity	Share Repurchase Activity Three Months Ended Six Months Ended (thousands, except per share data) September 23, 2023 September 24, 2022 September 23, 2023 September 24, 2022 Number of shares purchased — 1,203.8 — 1,617.4 Average price paid per share $ — $ 44.82 $ — $ 44.00 Total repurchased $ — $ 53,962 $ — $ 71,166

Description of Business and B_3

Description of Business and Basis of Presentation (Narrative) (Details) $ in Millions	6 Months Ended	12 Months Ended
	Sep. 23, 2023 USD ($) store segment item state	Mar. 30, 2024	Mar. 25, 2023 USD ($)
Significant Accounting Policies [Line Items]
Company operated retail stores | store	1,298
Number of states in which entity operates | state	32
Number of franchised locations | item	77
Number of operating segments | segment	1
Fiscal period duration			364 days
Property and equipment accumulated depreciation | $	$ 434.6		$ 426.7
Forecast [Member]
Significant Accounting Policies [Line Items]
Fiscal period duration		371 days
Minimum [Member]
Significant Accounting Policies [Line Items]
Fiscal period duration	364 days
Maximum [Member]
Significant Accounting Policies [Line Items]
Fiscal period duration	371 days

Acquisitions and Divestitures (

Acquisitions and Divestitures (Narrative) (Details) $ in Thousands		3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 17, 2022 USD ($) item	Sep. 24, 2022 USD ($)	Sep. 23, 2023 USD ($)	Sep. 24, 2022 USD ($)	Mar. 25, 2023 store
Acquisitions And Divestitures [Line Items]
Deferred proceeds received from divestiture			$ 7,311
American Tire Distributors [Member] | Disposal Group, Not Discontinued Operations [Member]
Acquisitions And Divestitures [Line Items]
Pre-tax gain	$ 2,400
Number of wholesale locations | item	7
Restructuring Charges		$ 1,300
Amount received at closing of transaction	$ 62,000
Amount held in escrow	5,000
Total consideration amount	102,000
Term of quarterly payments			2 years
Closing costs				$ 400
Costs incurred with restructuring and elimination of certain positions		$ 1,300
Deferred proceeds received from divestiture			$ 7,300
Percentage of forecasted requirements required to purchase after satisfaction of earnout			90%
Distribution agreement, term, after completion of Earnout Period			5 years
Distribution agreement, automatic renewal term			12 months
Remaining Consideration [Member] | American Tire Distributors [Member] | Disposal Group, Not Discontinued Operations [Member]
Acquisitions And Divestitures [Line Items]
Total consideration amount	$ 40,000		$ 24,000
Retail Tire and Automotive Repair Stores [Member]
Acquisitions And Divestitures [Line Items]
Number of stores acquired | store					6

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		6 Months Ended
	Sep. 23, 2023	Sep. 24, 2022	Sep. 23, 2023	Sep. 24, 2022
Numerator for earnings per common share calculation:
Net income	$ 12,872	$ 13,121	$ 21,701	$ 25,605
Less: Preferred stock dividends	(337)	(129)	(466)	(258)
Income available to common shareholders	$ 12,535	$ 12,992	$ 21,235	$ 25,347
Denominator for earnings per common share calculation:
Weighted average common shares - basic	31,434	32,204	31,427	32,844
Effect of dilutive securities:
Preferred stock	779	460	620	460
Weighted average common shares - diluted	32,272	32,729	32,112	33,349
Basic earnings per common share	$ 0.40	$ 0.40	$ 0.68	$ 0.77
Diluted earnings per common share	$ 0.40	$ 0.40	$ 0.68	$ 0.77
Stock Options [Member]
Effect of dilutive securities:
Stock based awards	1	1	1
Restricted Stock [Member]
Effect of dilutive securities:
Stock based awards	58	64	64	45

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended		6 Months Ended
	Sep. 23, 2023	Sep. 24, 2022	Sep. 23, 2023	Sep. 24, 2022
Income Taxes [Abstract]
Effective income tax rate	26.80%	26.60%	27.10%	33.60%
Discrete tax impacts from the divestiture of assets				6.90%
Discrete tax impact related to share-based payments, Percent	1%	0.50%	1.10%	0.70%

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($) $ in Millions	Sep. 23, 2023	Mar. 25, 2023
Fair Value [Abstract]
Carrying amount of long-term debt ( including current portion)	$ 55	$ 105

Cash Dividend (Narrative) (Deta

Cash Dividend (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 23, 2023	Sep. 24, 2022
Cash Dividend [Abstract]
Dividends to shareholders	$ 17,858	$ 18,562

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 23, 2023	Mar. 25, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Payment term	30 days
Deferred revenue	$ 22,166	$ 22,354
Deferred revenue, current	15,427	15,422
Deferred revenue, noncurrent	$ 6,800	$ 7,000
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 (Performance Obligatio

Revenues (Performance Obligation) (Narrative) (Details) $ in Millions	Sep. 23, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-06-25
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	$ 9.3
Deferred revenue, timing of satisfaction	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	$ 9.8
Deferred revenue, timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-03-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, performance obligation	$ 3.1
Deferred revenue, timing of satisfaction	1 year

Revenues (Schedule of Disaggreg

Revenues (Schedule of Disaggregated Revenue by Product Group) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 23, 2023	Sep. 24, 2022	Sep. 23, 2023	Sep. 24, 2022
Disaggregation of Revenue [Line Items]
Revenues		$ 322,091	$ 329,818	$ 649,059	$ 679,353
Tires [Member]
Disaggregation of Revenue [Line Items]
Revenues	[1]	153,825	157,905	305,953	330,969
Maintenance [Member]
Disaggregation of Revenue [Line Items]
Revenues		90,233	90,622	183,146	180,914
Brakes [Member]
Disaggregation of Revenue [Line Items]
Revenues		46,241	47,062	93,839	96,217
Steering [Member]
Disaggregation of Revenue [Line Items]
Revenues		25,998	27,613	54,361	57,594
Exhaust [Member]
Disaggregation of Revenue [Line Items]
Revenues		5,139	5,921	10,355	12,196
Other [Member]
Disaggregation of Revenue [Line Items]
Revenues		$ 655	$ 695	$ 1,405	$ 1,463
[1] Includes the sale of tire road hazard warranty agreements and tire delivery commissions.

Revenues (Schedule of Changes i

Revenues (Schedule of Changes in Deferred Revenue) (Details) $ in Thousands	6 Months Ended
	Sep. 23, 2023 USD ($)
Revenue [Abstract]
Balance beginning	$ 22,354
Deferral of revenue	10,977
Recognition of revenue	(11,165)
Balance end	$ 22,166

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)	6 Months Ended
	Sep. 23, 2023 USD ($) entity
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
Net availability under the credit facility	514,900,000
Amount outstanding under credit facility	$ 55,000,000
Interest coverage ratio	1.55
Ratio of adjusted debt to EBITDAR	4.75
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%
Second Amendment To Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate	0%
Third Amendment To Credit Facility Member | SOFR [Member]
Debt Instrument [Line Items]
Interest rate	0.10%
Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Revolving credit facility agreement	$ 80,000,000
Letters of credit outstanding	$ 30,100,000
Minimum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Percentage of fees on amount available	0.125%
Basis spread	0.75%
Minimum [Member] | First Amendment To Credit Facility [Member]
Debt Instrument [Line Items]
Basis spread	2.25%
Minimum [Member] | Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Percentage of fees on amount available	0.875%
Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Percentage of fees on amount available	0.35%
Basis spread	2%
Maximum [Member] | Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Percentage of fees on amount available	2.125%

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of Payments Due by Period) (Details) $ in Thousands	6 Months Ended
	Sep. 23, 2023 USD ($)
Commitments and Contingencies [Abstract]
Principal payments on long-term debt, Total	$ 55,000
Principal payments on long-term debt, 4 to 5 years	55,000
Finance lease commitments/financing obligations, Total	379,113	[1]
Finance lease commitments/financing obligations, Within 1 Year	52,156	[1]
Finance lease commitments/financing obligations, 2 to 3 Years	95,158	[1]
Finance lease commitments/financing obligations, 4 to 5 Years	83,223	[1]
Finance lease commitments/financing obligations, After 5 Years	148,576	[1]
Operating lease commitments, Total	257,036	[1]
Operating lease commitments, Within 1 year	45,611	[1]
Operating lease commitments, 2 to 3 years	80,038	[1]
Operating lease commitments, 4 to 5 years	58,737	[1]
Operating lease commitments, After 5 years	72,650	[1]
Contractual commitments, Total	691,149
Contractual commitments, Within 1 year	97,767
Contractual commitments, 2 to 3 years	175,196
Contractual commitments, 4 to 5 years	196,960
Contractual commitments, After 5 years	221,226
Finance lease payments, related to options to extend, reasonable certain of being exercised	80,100
Operating lease payments, related to options to extend, reasonably certain of being exercised	$ 53,000
[1] Finance and operating lease commitments represent future undiscounted lease payments and include $ 80.1 million and $ 53.0 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised.

Supplier Finance Program (Narra

Supplier Finance Program (Narrative) (Details) - USD ($) $ in Millions	Sep. 23, 2023	Mar. 25, 2023	Sep. 24, 2022
Supplier Finance Program [Abstract]
Payment terms, period	360 days
Outstanding supplier obligations	$ 187.9	$ 167.3	$ 86.9

Share Repurchase (Schedule of S

Share Repurchase (Schedule of Share Repurchase Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 24, 2022	Sep. 24, 2022
Equity, Class of Treasury Stock [Line Items]
Total repurchased	$ 53,999	$ 71,215
Common Class A [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares purchased	1,203,800	1,617,400
Average price paid per share	$ 44.82	$ 44
Total repurchased	$ 53,962	$ 71,166

Equity Capital Structure Recl_2

Equity Capital Structure Reclassification (Narrative) (Details)	Aug. 15, 2023 $ / shares	May 12, 2023 item	Sep. 23, 2023	Mar. 25, 2023
Equity Capital Structure Reclassification [Abstract]
Percentage of interest ownership the holders will cease to beneficially own		50%
Class C convertible preferred stock, conversion ratio			61.275	23.389
Number of members that can be appointed to the Board of Directors | item		1
Per share liquidation preference | $ / shares	$ 1.50
Directors election term in years	1 year