Consolidated Balance Sheets (Parenthetical) |
Mar. 28, 2026
$ / shares
shares
|
Mar. 29, 2025
$ / shares
shares
|
|---|---|---|
| Preferred stock, conversion ratio | 61.275 | 61.275 |
| Common stock shares authorized | 65,000,000 | 65,000,000 |
| Common stock par value | $ / shares | $ 0.01 | $ 0.01 |
| Common stock shares issued | 40,124,348 | 40,067,600 |
| Treasury stock shares | 10,104,688 | 10,104,688 |
| Series C Convertible Preferred Stock [Member] | ||
| Preferred stock shares authorized | 150,000 | 150,000 |
| Preferred stock par value | $ / shares | $ 1.50 | $ 1.50 |
| Preferred stock, conversion ratio | 61.275 | 61.275 |
| Preferred stock shares issued | 19,664 | 19,664 |
| Preferred stock shares outstanding | 19,664 | 19,664 |
| Serial Preferred Stock [Member] | ||
| Preferred stock shares authorized | 4,750,000 | 4,750,000 |
| Preferred stock par value | $ / shares | $ 0.01 | $ 0.01 |
| Preferred stock shares issued | 0 | 0 |
| Preferred stock shares outstanding | 0 | 0 |
| Series D Junior Participating Serial Preferred Stock [Member] | ||
| Preferred stock shares authorized | 65,000 | 65,000 |
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
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| Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) [Abstract] | |||
| Sales | $ 1,157,176 | $ 1,195,334 | $ 1,276,789 |
| Cost of sales, including occupancy costs | 751,915 | 777,689 | 824,686 |
| Gross profit | 405,261 | 417,645 | 452,103 |
| Operating, selling, general and administrative expenses | 385,232 | 405,080 | 380,678 |
| Operating income | 20,029 | 12,565 | 71,425 |
| Interest expense, net of interest income | 17,233 | 18,924 | 20,005 |
| Other income, net | (304) | (446) | (460) |
| Income (loss) before income taxes | 3,100 | (5,913) | 51,880 |
| Provision for (benefit from) income taxes | 927 | (731) | 14,309 |
| Net income (loss) | 2,173 | (5,182) | 37,571 |
| Other comprehensive income | |||
| Changes in pension, net | 506 | 30 | 664 |
| Other comprehensive income | 506 | 30 | 664 |
| Comprehensive income (loss) | $ 2,679 | $ (5,152) | $ 38,235 |
| Earnings (loss) per share | |||
| Basic | $ 0.03 | $ (0.22) | $ 1.18 |
| Diluted | $ 0.03 | $ (0.22) | $ 1.18 |
| Weighted average common shares outstanding | |||
| Basic | 30,002 | 29,937 | 30,903 |
| Diluted | 30,002 | 29,937 | 31,894 |
Consolidated Statements of Changes in Shareholders’ Equity (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
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| Consolidated Statements of Changes in Shareholders’ Equity [Abstract] | |||
| Repurchase of stock, excise tax | $ 0.4 | ||
| Common stock cash dividends per share | $ 1.12 | $ 1.12 | $ 1.12 |
Description of Business, Basis of Presentation and Summary of Significant Accounting Policies |
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| Description of Business, Basis of Presentation and Summary of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Description of Business, Basis of Presentation and Summary of Significant Accounting Policies | Note 1 – Description of Business, Basis of Presentation and Summary of Significant Accounting Policies
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 1,115 Company-operated retail stores located in 32 states and 46 Car-X franchised locations as of March 28, 2026.
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.
As of March 28, 2026, Monro had two retread facilities. The retread facilities re-manufacture tires through the replacement of tread on worn tires that are later sold to customers.
Monro’s operations are organized and managed as one single segment designed to offer 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. The internal management financial reporting that is the basis for evaluation to assess performance and allocate resources by our chief operating decision maker consists of consolidated data that includes the results of our retail and commercial 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
Principles of consolidation
The consolidated financial statements include the accounts of Monro, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Management’s use of estimates
The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of financial statements in conformity with such principles requires the use of estimates by management during the reporting period. Actual results could differ from those estimates.
Fiscal year
We operate on a 52/53-week fiscal year ending on the last Saturday in March. Fiscal years 2026 and 2025 each contained 52 weeks and fiscal 2024 contained 53 weeks. Unless specifically indicated otherwise, any references to “2026” or “fiscal 2026,” “2025” or “fiscal 2025,” and “2024” or “fiscal 2024” relate to the years ended March 28, 2026, March 29, 2025 and March 30, 2024, respectively.
Correction of previously issued financial statements
While preparing the 2026 consolidated financial statements, the Company identified a prior period error in the financing activities section of our Consolidated Statements of Cash Flows for the years ended March 29, 2025 and March 30, 2024 and the quarters ended June 28, 2025, September 27, 2025 and December 27, 2025, related to the presentation of proceeds from borrowings and principal payments on borrowings associated with the Company’s Credit Facility. The error did not have an impact to our Consolidated Balance Sheets, Consolidated Statement of Income and Comprehensive Income or Consolidated Statement of Changes in Shareholders’ Equity for any of the impacted periods, nor did it have any impact on total cash flows from operating, investing, or financing activities.
Although the Company determined that the error did not have a material impact on its previously issued annual and quarterly consolidated financial statements, the Company has corrected the error on the effected annual statements of cash flows included herein and will correct the affected interim statements of cash flows in future filings of quarterly reports on Form 10-Q, as applicable, to reflect proceeds from borrowings under the credit facility as cash inflows from financing activities and repayments of borrowings under the credit facility as cash outflows from financing activities, without affecting any cash flow totals. Our annual Consolidated Statements of Cash Flow reflect the changes in proceeds from borrowings under the credit facility cash inflows (outflows) from financing activities for the fiscal year ended March 29, 2025 and March 30, 2024, as shown in the charts below.
Recent accounting pronouncements
In December 2023, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires income tax disclosure updates, primarily by requiring specific categories and greater disaggregation within the rate reconciliation and disaggregation of income taxes paid by jurisdiction. This guidance is effective for fiscal years beginning after December 15, 2024. We prospectively adopted this guidance during the fourth quarter of fiscal 2026. The adoption of this guidance did not have a material impact on our consolidated financial statements. See Note 8 for additional information.
In November 2024, the FASB issued new accounting guidance, ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization, and operating, selling, general and administrative expenses. The guidance is effective for annual reporting periods beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. We are currently evaluating the impact of adopting this guidance.
In September 2025, the FASB issued new accounting guidance, ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes references to prescriptive software development stages and includes an updated framework for capitalizing internal software costs. The guidance is effective for annual reporting periods beginning after December 15, 2027, and for interim periods within that fiscal year. We are currently evaluating the impact of adopting this guidance.
In December 2025, the FASB issued new accounting guidance, ASU 2025-11, Interim Reporting (Topic 270): Narrow Scope Improvements, which clarifies the scope and requirement for interim financial statement disclosures. The amendments create a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose, in interim periods, any event or change since the previous year-end that has a material effect on the entity. The guidance is effective for annual reporting periods beginning after December 15, 2027, and for interim periods within that fiscal year. We are currently evaluating the impact of adopting this guidance.
Other recent authoritative guidance issued by the FASB (including technical corrections to the Accounting Standards Codification (“ASC”)) and the Securities and Exchange Commission (“SEC”) did not or are not expected to have a material effect on our consolidated financial statements.
Summary of Significant Accounting Policies
Cash and cash equivalents
Cash consists primarily of cash on hand and deposits with banks. Cash equivalents include highly liquid investments with an original maturity of three months or less from the time of purchase. Cash equivalents also include amounts due from third-party financial institutions for credit and debit card transactions. These receivables typically settle in three days or less.
Inventories
Our inventories, which consist of automotive parts and oil as well as tires, are valued at the lower of weighted average cost and net realizable value.
Property and equipment, net
Property and equipment, net is stated at historical cost less accumulated depreciation. Property and equipment are depreciated using the straight-line method over estimated useful lives. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the related lease terms. When assets are disposed of, the resulting gain or loss is recognized in operating, selling, general and administrative (“OSG&A”) expense on the Consolidated Statement of Income and Comprehensive Income. Expenditures for maintenance and repairs are expensed as incurred.
Capitalized internal use software costs
We capitalize the cost of computer software developed or obtained for internal use. Capitalized computer software costs consist primarily of payroll-related and consulting costs incurred during the application development stage. The Company expenses costs related to preliminary project assessments, research and development, re-engineering, training and application maintenance as they are incurred. Capitalized software costs are amortized on a straight-line basis over an estimated life of to 10 years. Property and equipment included capitalized computer software currently under development of approximately $8.4 million and $6.3 million, within construction-in-progress, as of March 28, 2026 and March 29, 2025, respectively.
During the year ended March 28, 2026, we implemented Oracle HCM, a cloud-based human resources and payroll system, which included capitalized computer software development costs of approximately $7.0 million. These costs are within equipment, signage, and fixtures in property and equipment. See Note 4 for additional information on property and equipment.
Valuation of long-lived assets
We review for impairment to our long-lived assets, which include property and equipment and right-of-use (“ROU”) assets, whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. Long-lived assets are grouped at the store level and evaluated for impairment at the lowest level for which there are identifiable cash flows that are independent of the cash flows of other groups of assets. If it is determined that the carrying amounts of such long-lived assets are not recoverable, the assets are written down to their estimated fair values. Fair value of the assets is determined based on the highest and best use of the asset group, considering external market participant assumptions.
During fiscal 2026, impairment charges of $0.3 million were recorded. During fiscal 2025, we evaluated certain stores having indicators of impairment based on operating performance. Based on the estimate of future recoverable cash flows, we recorded impairment charges in fiscal 2025 totaling $24.4 million. The impairment charges consisted of $8.8 million of operating lease ROU assets, $5.5 million of finance lease ROU assets and $10.1 million of leasehold improvements and equipment. Impairment charges of $1.9 million were recorded during fiscal 2024.
Leases
We determine if an arrangement is or contains a lease at inception. We record ROU assets and lease obligations for our finance and operating leases, which are initially based on the discounted future minimum lease payments over the term of the lease. As the rate implicit in our leases is not easily determinable, our applicable incremental borrowing rate is used in calculating the present value of the lease payments. We estimate our incremental borrowing rate considering the market rates of our outstanding borrowings and comparisons to comparable borrowings of similar terms.
Lease term is defined as the non-cancelable period of the lease plus any option to extend the lease when it is reasonably certain that it will be exercised. For leases with an initial term of 12 months or less, no ROU assets or lease obligations are recorded on the balance sheet, and we recognize short-term lease expense for these leases on a straight-line basis over the lease term.
Certain of our lease agreements include rental payments based on a percentage of retail sales over specified levels and others include rental payments adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. For most classes of underlying assets, we have elected to separate lease from non-lease components. We have elected to combine lease and non-lease components for certain classes of equipment. We generally sublease excess space to third parties.
Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales, including occupancy costs (“cost of sales”) or OSG&A expense. Amortization expense for finance leases is recognized on a straight-line basis over the lease term and is included in cost of sales or OSG&A expense. Interest expense for finance leases is recognized using the effective interest method, and is included in interest expense, net of interest income. Variable payments, short-term rentals and payments associated with non-lease components are expensed as incurred. See Note 12 for additional information on leases.
Guarantees
At the time we issue a guarantee, we recognize an initial liability for the value of the obligation we assume under that guarantee. Monro has guaranteed certain lease payments related to lease assignments amounting to $18.6 million. This amount represents the maximum potential amount of future payments under the guarantees as of March 28, 2026. Leases guaranteed by Monro have options that expire through various dates from September 2026 through January 2044. In the event of default by the assignee, Monro retains the right to assume the lease of the related store. As of March 28, 2026, we have recorded a liability of $1.3 million related to the estimated probability of defaults under the foregoing leases, with $0.1 million and $1.2 million within Other current liabilities and Other long-term liabilities in our Consolidated Balance Sheets, respectively.
Goodwill and intangible assets
We have a history of growth through acquisitions. Assets and liabilities of acquired businesses are recorded at their estimated fair values as of the date of acquisition. Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. The Company reviews goodwill for impairment during the third quarter of each year, or earlier upon the occurrence of a triggering event. We have one reporting unit which encompasses all operations including new acquisitions. Generally, fair value of the reporting unit is determined using a discounted projected future cash flows model and is compared to the carrying value of the reporting unit for purposes of identifying potential impairment. The calculation of fair value under the discounted future cash flows is based on estimates including revenue projections, EBITDA margin and discount rate, among others. Projected future cash flows are based on management’s knowledge of the current operating environment and expectations for the future. Goodwill impairment is recognized for any excess of the reporting unit’s carrying value over its fair value, not to exceed the total amount of goodwill. No impairment was recorded in fiscal 2026, 2025 or 2024. Results of the goodwill impairment reviews performed during 2026 and 2025 are summarized in Note 5.
Our intangible assets primarily represent allocations of purchase price to identifiable intangible assets of acquired businesses and are amortized over their estimated useful lives. All intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that an impairment may exist. If such indicators are present, it is determined whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying values. Based on our review as of March 28, 2026, we concluded that the carrying values of our intangible assets were not impaired. No impairment was recorded in fiscal 2026, 2025 or 2024.
A deterioration of macroeconomic conditions may not only negatively impact the estimated operating cash flows used in our cash flow models but may also negatively impact other assumptions used in our analyses, including, but not limited to, the estimated cost of capital and/or discount rate. Additionally, we are required to ensure that assumptions used to determine fair value in our analyses are consistent with the assumptions a hypothetical marketplace participant would use. As a result, the cost of capital and/or discount rate used in our analyses may increase or decrease based on market conditions and trends, regardless of whether our actual cost of capital has changed. Therefore, we may recognize an impairment of an intangible asset or assets even though realized actual cash flows are approximately equal to or greater than our previously forecasted amounts. See Note 5 for additional information on goodwill and intangible assets.
Store closings
On May 23, 2025, following an evaluation of market segmentation and demographic data specific to geographic areas where our stores are located, our Board of Directors approved a plan to close 145 underperforming stores that we identified to have failed to maintain an acceptable level of profitability (the “Store Closure Plan”), and these stores were closed in the first quarter of fiscal 2026.
For the year ended March 28, 2026, we recorded total expenses of $14.8 million related to the Store Closure Plan, which include $10.7 million in expected costs to be incurred related to the vacating of stores, utilities, real estate taxes, maintenance, other on-going costs related to the properties, $3.5 million related to the disposal of inventory and other store assets and $0.6 million related to third-party vendors and other expected cost adjustments. These expenses were recorded in in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). As of March 28, 2026, the Company had a remaining liability of $3.7 million, representing such costs to be settled in future periods, with $1.8 million and $1.9 million included within Other current liabilities and Other long-term liabilities in our Consolidated Balance Sheets, respectively. We expect these costs to be settled within the next to five years.
The table below summarizes the changes in our closed stores reserves by activity for the year ended March 28, 2026 as follows:
As of March 28, 2026, the Company had sold 26 owned stores and related equipment under the Store Closure Plan. We received net proceeds of $19.7 million and recorded a net gain of $9.9 million. Additionally, the Company assigned 36 leases to third parties and early terminated 32 leases. We received net proceeds of $5.6 million and recorded a net gain of $12.2 million, which included the derecognition of lease liabilities, under the Store Closure Plan. These net gains were recorded in in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).
Assets held for sale
We classify long-lived assets to be sold as held for sale in the period in which all of the required criteria are met. 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.
On May 23, 2025, our Board of Directors approved the Store Closure Plan related to 145 underperforming stores. These stores were closed and we determined that $13.0 million of building, land and certain equipment met the criteria to be classified as held for sale during the first quarter of fiscal 2026. For the year ended March 28, 2026, approximately $8.8 million of assets held for sale were sold. As of March 28, 2026, $4.2 million of buildings, land and certain equipment remain classified as assets held for sale.
On June 1, 2023, we announced the planned sale of our corporate headquarters at 200 Holleder Parkway in Rochester, New York and our plan to relocate our corporate headquarters to another location in the greater Rochester area and determined that the related assets met the criteria to be classified as held for sale. On July 3, 2024, we completed the sale of our corporate headquarters. We received net proceeds of approximately $9.1 million and recorded a net gain of approximately $2.8 million in operating selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the year ended March 29, 2025.
Insurance reserves
We maintain a high retention deductible plan with respect to workers’ compensation and general liability insurance claims (except for in Ohio in which we are self-insured) and are otherwise self-insured for employee medical claims. To reduce our risk and better manage our overall loss exposure, we purchase stop-loss insurance that covers individual claims more than the deductible amounts, and caps total losses in a fiscal year. We maintain an accrual for the estimated cost to settle open claims as well as an estimate of the cost of claims that have been incurred but not reported. These estimates take into consideration the historical average claim volume, the average cost for settled claims, current trends in claim costs, changes in our business and workforce, and general economic factors. These accruals are reviewed on a quarterly basis. For more complex reserve calculations, such as workers’ compensation, we periodically use the services of an actuary to assist in determining the required reserve for open claims.
Warranty
We provide an accrual for estimated future warranty costs for parts that we install based upon the historical relationship of warranty costs to sales. See Note 7 for additional information on tire road hazard warranty agreements.
Comprehensive income
As it relates to Monro, comprehensive income is defined as net income as adjusted for pension liability adjustments and is reported net of related taxes in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) and in the Consolidated Statements of Changes in Shareholders’ Equity.
Income taxes
We account for income taxes pursuant to the asset and liability method which requires the recognition of deferred tax assets and liabilities related to the expected future tax consequences arising from temporary differences between the carrying amounts and tax bases of assets and liabilities based on enacted statutory tax rates applicable to the periods in which the temporary differences are expected to reverse. Any effects of changes in income tax rates or laws are included in income tax expense in the period of enactment. A valuation allowance is recognized if we determine it is more likely than not that all or a portion of a deferred tax asset will not be recognized. In making such determination, the Company considers all available evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent and expected future results of operation. Monro recognizes a tax benefit from an uncertain tax position in the financial statements only when it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits and a consideration of the relevant taxing authority's administrative practices and precedents. See Note 8 for additional information on income taxes.
Treasury stock
Treasury stock is accounted for using the par value method.
Share-based compensation
We provide share-based compensation through non-qualified stock options, restricted stock awards, restricted stock units and performance stock units. We measure compensation cost arising from the grant of share-based payments to an employee at fair value and recognize such cost in income over the period during which the employee is required to provide service in exchange for the award, usually the vesting period. The fair value of each option award is estimated on the date of grant primarily using the Black-Scholes option valuation model. The assumptions used to estimate fair value require judgment and are subject to change in the future due to factors such as employee exercise behavior, stock price trends, and changes to type or provisions of share-based awards. Any material change in one or more of these assumptions could have an impact on the estimated fair value of a future award.
(a)Risk-free interest rates are yields for zero coupon U.S. Treasury notes maturing approximately at the end of the expected option term. (b)Expected term is based on historical exercise behavior and on the terms and conditions of the stock option award. (c)Expected volatility is based on a combination of historical volatility, using Monro stock prices over a period equal to the expected term, and implied market volatility. (d)Dividend yield is based on historical dividend experience and expected future changes, if any. (e)There were no non-qualified stock options issued in fiscal 2026.
The fair value of restricted stock awards, restricted stock units and performance stock units (collectively, “restricted stock”) are generally determined based on the stock price at the date of grant.
We are required to estimate forfeitures and only record compensation costs for those awards that are expected to vest. The assumptions for forfeitures were determined based on type of award and historical experience. Forfeiture assumptions are adjusted at the point in time a significant change is identified, with any adjustment recorded in the period of change, and the final adjustment at the end of the requisite service period to equal actual forfeitures.
We recognize compensation expense related to stock options and restricted stock using the straight-line approach. Option awards and restricted stock generally vest equally over the service period established in the award, typically three years or four years. See Note 10 for additional detail on stock-based compensation.
Earnings (loss) per common share
Basic earnings (loss) per common share amounts are calculated by dividing income (loss) available to common shareholders, after deducting preferred stock dividends, by the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per common share amounts are calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities.
Diluted earnings (loss) per share includes the potential dilutive effect of common stock equivalents as if such securities were converted or exercised during the period when the effect is dilutive. Because the impact of these items is generally anti-dilutive during periods of net loss, there is no difference between basic and diluted loss per common share for periods with net losses.
Advertising
The cost of advertising is generally expensed at the first time the advertising takes place, except for direct response advertising which is capitalized and amortized over its expected period of future benefit. Total advertising expenses were approximately $31.5 million, $19.0 million and $15.4 million in fiscal 2026, 2025 and 2024, respectively, and are included within operating selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).
Direct response advertising consists primarily of coupons for Monro’s services. The capitalized costs of this advertising are amortized over the period of the coupon’s validity, which is typically two months.
Vendor rebates
We receive vendor support in the form of allowances through a variety of vendor-sponsored programs, such as volume rebates, promotions, and advertising allowances, referred to as “vendor rebates”. Vendor rebates are primarily recorded as a reduction of cost of sales.
We establish a receivable for vendor rebates that are earned but not yet received. Based on purchase data and the terms of the applicable vendor-sponsored programs, we estimate the amount earned. Most of the year-end vendor rebates receivable is collected within the following first quarter. See Note 3 for additional information on vendor rebates.
Working capital management
As part of our ongoing efforts to manage our working capital and improve our cash flow, certain financial institutions offer to certain of our suppliers a voluntary supply chain finance program to provide our suppliers with the opportunity to sell receivables due from us (our accounts payable) to a participating financial institution subject to the independent discretion of both the supplier and the participating financial institution. Should a supplier choose to participate in the program, it may receive payment from the financial institution in advance of agreed contractual payment terms; our responsibility is limited to making payments to the respective financial institution on the terms originally negotiated with our supplier and no other guarantees are provided by us under the supply chain finance program. We have no economic interest in a supplier’s decision to participate and we have no direct financial relationship with the financial institutions, as it relates to the supply chain finance program. We have concluded that the program is a trade payable program and not indicative of a borrowing arrangement. See Note 15 for additional information. |
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Divestiture |
12 Months Ended |
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Mar. 28, 2026 | |
| Divestiture [Abstract] | |
| Divestiture | Note 2 – 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 approximately $5 million was held in escrow and subsequently paid in December 2023. The remaining $40 million (“Earnout”) of the total consideration of $102 million was to be paid quarterly over approximately three years based on our tire purchases from or through ATD pursuant to a distribution and fulfillment agreement with ATD. As of March 29, 2025, there was $3.5 million outstanding in Other current assets in our Consolidated Balance sheets, which was fully collected in the first quarter of fiscal 2026.
Under a distribution agreement between us and ATD, ATD agreed to supply and sell tires to retail locations we own. Our company-owned retail stores are 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 are excluded from the calculation of our requirements for tires. The initial term of the distribution agreement will expire January 1, 2030, with automatic 12-month renewal periods thereafter. |
Other Current Assets |
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| Other Current Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Current Assets | Note 3 – Other Current Assets
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Property and Equipment |
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| Property and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment | Note 4 – Property and Equipment
The major classifications of property and equipment are as follows:
Depreciation expense totaled $31.3 million, $36.5 million and $38.8 million for 2026, 2025 and 2024, respectively. |
Goodwill and Intangible Assets |
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| Goodwill and Intangible Assets | Note 5 – Goodwill and Intangible Assets
Goodwill
Goodwill was $736.4 million as of March 28, 2026 and March 29, 2025.
Impairment of Goodwill
When performing the quantitative analysis for goodwill impairment testing, we base the fair value of our reporting unit on consideration of various valuation methodologies, including projecting future cash flows discounted at rates commensurate with the risks involved (“DCF”). Assumptions used in a DCF require the exercise of significant judgment, including judgment about appropriate discount rate and terminal values, growth rates, and the amount and timing of expected future cash flows. The forecasted cash flows are based on current plans and assumed growth rates for future years. The calculation of fair value under the discounted future cash flows is based on estimates including revenue projections, EBITDA margin and discount rate, among others. Projected future cash flows are based on management’s knowledge of the current operating environment and expectations for the future. We believe that our assumptions are consistent with the plans and estimates used to manage the underlying businesses. The discount rate, which is intended to reflect the risks inherent in future cash flow projections, used in a DCF are based on estimates of the weighted-average cost of capital of a market participant. Such estimates are derived from our analysis of peer companies and consider the industry weighted average return on debt and equity from a market participant perspective.
We perform the annual goodwill impairment test for our single-reporting unit segment as of the first day of the third quarter of each year, or more frequently if impairment indicators exist. We identified a triggering event during the year and we performed a quantitative analysis of the fair value of the Company’s reporting unit for both the annual impairment assessment performed as of September 28, 2025, and the interim impairment assessment as of March 28, 2026. The interim and annual goodwill impairment testing concluded that no impairment was required.
During the fourth quarter of fiscal 2026 and 2025, we experienced continued industry disruption, which resulted in a reduction in our near-term and long-term outlook. We also experienced a decline in our market capitalization as a result of a decrease in our stock price. Our stock price has a history of volatility, however, given the decrease was sustained throughout the quarter, we viewed this event as a triggering event for the quarters ended March 28, 2026 and March 29, 2025. Our goodwill impairment testing concluded that no impairment was required at that time, and we have undertaken operational changes, including changes in management and strategy, that we believe will lead to improvements in the performance of the business and cash flows. Our forecast of future cash flows is based on our best estimate of projected revenue and projected operating margin, based primarily on pricing, material costs, market share, industry outlook, general economic conditions and strategic actions to improve our operating margin. Based on our impairment test, we had an estimated fair value that exceeded our carrying value, including goodwill, by approximately 20% and 25% in fiscal 2026 and 2025, respectively.
Amortization expense was $2.7 million, $2.9 million and $3.3 million for 2026, 2025 and 2024, respectively.
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Long-Term Debt |
12 Months Ended |
|---|---|
Mar. 28, 2026 | |
| Long-Term Debt [Abstract] | |
| Long-Term Debt | Note 6 – Long Term Debt
Credit Facility
In April 2019, we entered into a $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 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 were permitted if we are in compliance with the financial covenants and other restrictions in the First Amendment and Credit Facility. 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. We were 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.
On May 23, 2024, we entered into a Fourth Amendment to the Credit Facility (the “Fourth Amendment”). The Fourth Amendment, among other things, amended the terms of certain of the financial and restrictive covenants in the Credit Agreement, to provide us with additional flexibility to operate our business from the first quarter of fiscal 2025 through the fourth quarter of fiscal 2026 (“the Covenant Relief Period”). During the Covenant Relief Period, the minimum interest coverage ratio was reduced from 1.55x to 1.00x to: (a) 1.25x to 1.00x from the first quarter of fiscal 2025 through the first quarter of fiscal 2026; (b) 1.35x to 1.00x from the second quarter of fiscal 2026 through the fourth quarter of fiscal 2026; and (c) 1.55x to 1.00x for the first quarter of fiscal 2027 and thereafter. During the Covenant Relief Period, the maximum ratio of adjusted debt to EBITDAR remained at 4.75x to 1.00x, except that, if we completed a qualified acquisition during the Covenant Relief Period, the maximum ratio would increase to 5.00x to 1.00x for a certain 12-month period after the qualified acquisition.
In addition, the Fourth Amendment modified the definition of “EBITDAR” to permit add-backs relating to expenses, and restrict add-backs related to gains, associated with store closures of (a) all non-cash items and (b) cash items up to 20% of EBITDA from the first quarter of fiscal 2025 through the fourth quarter of fiscal 2026 and up to 15% of EBITDA from the first quarter of fiscal 2027 and thereafter. During the Covenant Relief Period, the interest rate spread charged on borrowings increased by 25 basis points. During the Covenant Relief Period, the restrictions on our ability to declare dividends were modified to reduce the cushion inside the threshold required for us to be able to declare dividends without restriction from 0.50x to 0.25x. In addition, during the Covenant Relief Period, we were required to have minimum liquidity of at least $400 million to declare dividends. We were prohibited from repurchasing our securities during the Covenant Relief Period if there were outstanding amounts under the Credit Facility immediately before or after giving effect to the repurchase. During the Covenant Relief Period, we were permitted to acquire stores or other businesses as long as we had minimum liquidity of at least $400 million after completing the acquisition.
On May 23, 2025, we entered into a Fifth Amendment to our Credit Facility (the “Fifth Amendment”). The Fifth Amendment amended the terms of certain of the financial and restrictive covenants in the Credit Facility to provide us with additional flexibility to operate our business from the first quarter of fiscal 2026 through the first quarter of fiscal 2027 (the “Extended Covenant Relief Period”). During the Extended Covenant Relief Period, the minimum interest coverage ratio was reduced from 1.55x to 1.00x to: (a) 1.15x to 1.00x from the first quarter of fiscal 2026 through the third quarter of fiscal 2026; (b) 1.25x to 1.00x from the fourth quarter of fiscal 2026 through the first quarter of fiscal 2027; and (c) 1.55x to 1.00x for the second quarter of fiscal 2027 and thereafter. During the Extended Covenant Relief Period, the maximum ratio of adjusted debt to EBITDAR remained at 4.75x to 1.00x, except that, if we completed a qualified acquisition during the Extended Covenant Relief Period, the maximum ratio would increase to 5.00x to 1.00x for a certain 12-month period after the qualified acquisition.
In addition to the Fourth Amendment modifications, the Fifth Amendment further modified the definition of “EBITDAR” to permit add-backs relating to non-cash impairment and other expenses, with the restriction for add-backs of certain cash expense items up to 20% of EBITDA from the first quarter of fiscal 2026 through the fourth quarter of fiscal 2026 and up to 15% of EBITDA from the first quarter of fiscal 2027 and thereafter. During the Extended Covenant Relief Period, the interest rate spread charged on borrowings was 225 basis points. During the Extended Covenant Relief Period, the restrictions on our ability to declare dividends were modified to reduce the cushion inside the threshold required for us to be able to declare dividends without restriction from 0.50x to 0.25x. In addition, during the Extended Covenant Relief Period, we were required to have minimum liquidity of at least $300 million to declare dividends. We were prohibited from repurchasing our securities during the Extended Covenant Relief Period if there are outstanding amounts under the Credit Facility immediately before or after giving effect to the repurchase. During the Extended Covenant Relief Period, we were permitted to acquire stores or other businesses as long as we had minimum liquidity of at least $300 million after completing the acquisition. In addition, the Fifth Amendment permanently reduced the Credit Facility from $600 million to $500 million.
As of March 28, 2026 and March 29, 2025, the interest rate spread paid by the Company was 225 and 175 basis points over SOFR, respectively.
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 as of March 28, 2026 and March 29, 2025.
Mortgages and specific lease financing arrangements with other parties (with certain limitations) are permitted under the Credit Facility. Other specific terms and the maintenance of specified ratios are generally consistent with our prior financing agreement that was replaced with the new agreement entered into in April 2019. Additionally, the Credit Facility is not secured by our real property, although we have agreed not to encumber our real property, with certain permissible exceptions.
There was $60.0 million outstanding and $409.9 million available under the Credit Facility as of March 28, 2026, subject to compliance with our covenants.
We were in compliance with all debt covenants as of March 28, 2026.
On May 21, 2026, we entered into a Sixth Amendment to our Credit Facility (the “Sixth Amendment”). The Sixth Amendment amends the terms of certain of the financial and restrictive covenants in the Credit Facility to provide us with additional flexibility to operate our business to the Credit Facility maturity date, or November 10, 2027 (the “Further Extended Covenant Relief Period”).
During the Further Extended Covenant Relief Period, the minimum interest coverage ratio will be reduced from 1.55x to 1.25. During the Further Extended Covenant Relief Period, the maximum ratio of adjusted debt to EBITDAR remains at 4.75x to 1.00x, except that, if we completed a qualified acquisition during the Further Extended Covenant Relief Period, the maximum ratio would increase to 5.00x to 1.00x for a certain 12-month period after the qualified acquisition. In addition to the Fourth and Fifth Amendment modifications, the Sixth Amendment further modifies the definition of “EBITDAR” to permit add-backs relating to non-cash pension accounting charges.
During the Further Extended Covenant Relief Period, the interest rate spread charged on borrowings is 225 basis points.
During the Further Extended Covenant Relief Period, the restrictions on our ability to declare dividends were modified to reduce the cushion inside the threshold required for us to be able to declare dividends without restriction from 0.50x to 0.25x. In addition, during the Further Extended Covenant Relief Period, we must have minimum liquidity of at least $200 million to declare dividends. We are prohibited from repurchasing our securities during the Further Extended Covenant Relief Period if there are outstanding amounts under the Credit Facility immediately before or after giving effect to the repurchase. During the Further Extended Covenant Relief Period, we may acquire stores or other businesses as long as we have minimum liquidity of at least $200 million after completing the acquisition.
In addition, the Sixth Amendment permanently reduces the Credit Facility from $500 million to $400 million.
Except as amended by the First Amendment, Second Amendment, Third Amendment, Fourth Amendment, Fifth Amendment and Sixth Amendment, the remaining terms of the Credit Facility remain in full force and effect.
Long-term debt had a carrying amount and a fair value of $60.0 million as of March 28, 2026, as compared to a carrying amount and a fair value of $61.3 million as of March 29, 2025. The carrying value of our debt approximated its fair value due to the variable interest nature of the debt. |
Revenue |
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| Revenue | Note 7 – Revenue
Automotive undercar repair, tire replacement sales and tire related services represent most 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 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.
(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, typically 21 to 36 months. The deferred revenue balances at March 28, 2026 and March 29, 2025 were approximately $18.8 million and $21.0 million, respectively, of which $13.2 million and $14.7 million, respectively, are reported in Deferred revenue and $5.6 million and $6.3 million, respectively, are reported in Other long-term liabilities in our Consolidated Balance Sheets.
We expect to recognize $13.2 million of deferred revenue related to road hazard warranty agreements during our ending March 27, 2027 and $5.6 million of such deferred revenue .
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. |
Income Taxes |
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| Income Taxes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | Note 8 – Income Taxes
Income (loss) before income taxes were $3.1 million, $(5.9) million and $51.9 million during 2026, 2025 and 2024 respectively.
In December 2023, the FASB issued new accounting guidance ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires income tax disclosure updates, primarily by requiring specific categories and greater disaggregation within the rate reconciliation and income taxes paid by jurisdiction. We adopted the standard prospectively in fiscal 2026.
(a)State and local taxes in make up the majority (greater than 50%) of the tax effect of the state and local income tax category. (b)Tax expense of $661 related to nondeductible share-based compensation is classified within nontaxable or non-deductible items in the effective tax rate reconciliation for 2026.
We made cash payments of $4.0 million and $5.3 million for income taxes, net of refunds, during 2025 and 2024, respectively. Due to deferred tax effects and other payment and refund timing differences, income tax payments are not necessarily indicative of our current tax expense or future cash obligations.
We have $13.2 million and $12.3 million of federal and state net operating loss carryforwards, respectively, available as of March 28, 2026. The federal net operating loss carryforward has an unlimited carryforward period, and the state net operating loss carryforward periods expire in varying amounts through 2046.
We evaluate the realizability of our deferred tax assets on a quarterly basis and establish valuation allowances when it is more likely than not that all or a portion of a deferred tax asset may not be realized. As of March 28, 2026, we concluded, based on the weight of all available positive and negative evidence, that most of our deferred tax assets are more likely than not to be realized, except the estimated amount of future state net operating loss assets in certain jurisdictions that will expire unutilized.
We did not have any unrecognized tax benefits as of March 28, 2026. The total amount of unrecognized tax benefits was $1.4 million and $2.4 million as of March 29, 2025 and March 30, 2024, respectively, the majority of which, if recognized, would affect the effective tax rate.
In the normal course of business, Monro provides for uncertain tax positions and the related interest and penalties and adjusts its unrecognized tax benefits and accrued interest and penalties accordingly. We did not have any interest and penalties associated with uncertain tax benefits accrued as of March 28, 2026 and March 29, 2025.
We file U.S. federal income tax returns and income tax returns in certain state jurisdictions. Our U.S. federal income tax returns for 2023 – 2025 and various state tax years remain subject to income tax examinations by tax authorities. |
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Stock Ownership |
12 Months Ended |
|---|---|
Mar. 28, 2026 | |
| Stock Ownership [Abstract] | |
| Stock Ownership | Note 9 – Stock Ownership
Holders of at least 60 percent of the Class C convertible preferred stock must approve any action authorized by the holders of Common Stock. In addition, there are certain restrictions on the transferability of shares of Class C convertible preferred stock. In the event of a liquidation, dissolution or winding-up of Monro, the holders of the Class C convertible preferred stock would be entitled to receive 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 convertible preferred stock been converted to shares of common stock immediately prior to the liquidation, dissolution, or winding up before any amount would be paid to holders of Common Stock. The conversion value of the Class C convertible preferred stock was one to 61.275 common stock shares as of March 28, 2026 and March 29, 2025.
In May 2023, we entered into an agreement to reclassify our equity capital structure to eliminate the Class C convertible preferred stock. See Note 17 for additional information regarding the equity capital structure reclassification. |
Share-Based Compensation |
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| Share-Based Compensation | Note 10 – Share-based Compensation
We maintain a long-term incentive plan whereby eligible employees and non-employee directors may be granted non-qualified service condition stock options, non-qualified market condition stock options, restricted stock awards, and restricted stock units. We grant share-based awards to continue to attract and retain employees and to better align employees’ interests with those of our shareholders. Monro issues new shares of Common Stock upon the exercise of stock options.
Share-based compensation expense included in cost of sales and OSG&A expense in Monro’s Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for 2026, 2025 and 2024 was $3.9 million, $4.7 million and $4.3 million, respectively, and the related income tax benefit for each year was $1.0 million, $1.2 million and $1.1 million, respectively.
Monro currently grants stock option awards, shares of restricted stock and restricted stock units under the 2007 Incentive Stock Option Plan (the “2007 Plan”), as amended and restated effective August 2017. As of March 28, 2026, there were a total of 7,116,620 shares and 2,155,873 shares that were authorized and available for grant under the 2007 Plan, respectively.
Non-Qualified Stock Options
Generally, employee options vest over a period, and have a duration of six years. Outstanding options are exercisable for various periods through May 2030.
(a)Total shares valued at the market price of the underlying stock as of March 28, 2026, less the exercise price.
As of March 28, 2026, the total unrecognized compensation expense related to unvested stock option awards was $0.6 million, which is expected to be recognized over a weighted average period of approximately one year. There were no options granted during 2026. The weighted average grant date fair value of options granted during 2025 and 2024 was $6.60 and $11.02, respectively. The total fair value of stock options vested during 2026, 2025 and 2024 was $0.8 million, $1.7 million and $1.4 million, respectively. There were no stock options exercised during 2026, 2025 or 2024.
Restricted Stock
Monro issues restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance stock units (“PSUs”) to certain members of management as well as non-employee directors of the Company (collectively, “restricted stock”). RSAs represent shares issued upon grant that are restricted whereas RSUs and PSUs represent shares issued upon vesting in the future. The fair value for RSAs, RSUs and PSUs are generally calculated based on the stock price on the date of grant. RSAs have voting rights and earn dividends during the vesting period. RSUs and PSUs do not have voting rights but earn dividends during the vesting period. The dividends are paid to the recipient at the time the RSA, RSU or PSU becomes vested. If the recipient leaves Monro prior to the vesting date for any reason, the shares of RSA or the shares underlying RSU or PSU, and the dividends accrued on those shares will be forfeited and returned to Monro. Generally, RSAs and RSUs vest equally over or four years. Generally, PSUs vest at the end of three years based upon the achievement of certain performance targets.
During 2026, the Company granted RSAs, RSUs and PSUs in connection with the appointment of its new President and Chief Executive Officer, effective December 2, 2025. 26,441 RSAs will vest over one year, and 59,492 RSUs will vest equally over two years on December 31, 2026 and December 31, 2027. 178,476 PSUs may vest upon the Company’s common stock price meeting certain market conditions on December 31, 2027.
In 2024, the Company issued a limited number of PSUs to members of senior management which may vest at the end of three years upon the achievement of a average return on invested capital target. In 2025, the Company issued a limited number of PSUs to members of senior management which may vest upon the achievement of a average relative total shareholder return (“rTSR”) target. In 2026, the Company issued a limited number of PSUs to members of senior management, which performance vesting is split evenly between the achievement of a average rTSR target and the achievement of a fiscal 2026 EBITDA target, followed by an additional time-vesting period.
As of March 28, 2026, the total unrecognized compensation expense related to unvested restricted shares was $11.4 million, which is expected to be recognized over a weighted average period of approximately two years. The weighted average grant date fair value of restricted shares granted during 2026, 2025 and 2024 was $15.09, $25.65 and $37.09, respectively. The total fair value of restricted shares vested during 2026, 2025 and 2024 was $2.5 million, $3.0 million and $3.7 million, respectively. |
Earnings (Loss) per Common Share |
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| Earnings (Loss) per Common Share | Note 11 – Earnings (Loss) per Common Share
(a)The computation of diluted earnings per common share for fiscal 2026 excludes the effect of approximately 97 shares related to restricted stock and 1,204 preferred stock conversions, as these had an anti-dilutive effect upon the calculation of net income available to the Company’s common shareholders per share during the year ended March 28, 2026. (b)The computation of diluted loss per common share for fiscal 2025 excludes the effect of approximately 86 shares related to restricted stock and 1,204 preferred stock conversions, as the impact of these items is generally anti-dilutive during periods of net loss. Because of this, there is no difference between basic and diluted loss per common share for periods with net losses.
The computation of diluted earnings (loss) per common share for fiscal 2026, 2025 and 2024 excludes the effect of approximately 816,000, 767,000 and 608,000 of shares related to restricted stock and stock options, respectively, as the shares related to these restricted stock and the exercise price of these stock options were greater than the average market value of our common stock for those periods, resulting in an anti-dilutive effect on diluted earnings (loss) per common share. |
Leases |
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| Leases | Note 12 – Leases
We lease certain retail stores, office space and land as well as service contracts that are considered leases.
Our leases have remaining lease terms, including renewals reasonably certain to be exercised, of less than one year to approximately 32 years. Most of our leases include one or more options to extend the lease, for periods ranging from three years to 30 years or more.
Historical failed sale leasebacks that were assumed through acquisitions and do not qualify for sale leaseback accounting continue to be accounted for as financing obligations. As of March 28, 2026 and March 29, 2025, net assets of $1.0 million and $2.2 million, respectively, and liabilities of $2.4 million and $4.3 million, respectively, due to failed sale leaseback arrangements were included with finance lease assets and liabilities, respectively, on the Consolidated Balance Sheets.
(a)Operating lease obligations include approximately $28.7 million related to options to extend operating leases that are reasonably certain of being exercised. (b)Finance lease payments include approximately $44.7 million related to options to extend finance leases that are reasonably certain of being exercised.
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Defined Benefit and Defined Contribution Plans |
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| Defined Benefit and Defined Contribution Plans | Note 13 – Defined Benefit and Defined Contribution Plans
Defined Benefit Plan
We have a defined benefit pension plan covering employees who met eligibility requirements. This plan is closed to new participants. Eligibility and the level of benefits under the plan were primarily dependent on date of hire, age, length of service and compensation. The funding policy for our plan is consistent with the funding requirements of U.S. federal law and regulations.
The measurement date used to determine the pension plan measurements disclosed herein is March 31 for both 2026 and 2025. The overfunded status of Monro’s defined benefit plan is recognized as an Other non-current asset in the Consolidated Balance Sheets as of March 28, 2026 and March 29, 2025.
Contributions and Estimated Future Benefit Payment
Our obligations to plan participants can be met over time through a combination of Company contributions to these plans and earnings on plan assets. There are no required or expected contributions in our fiscal year ending March 27, 2027 (“fiscal 2027”) to the plan. However, depending on investment performance and plan funded status, we may elect to make a contribution.
Cost of Plans
Assumptions
Our expected long-term rate of return on plan assets assumption is based upon historical returns and the future expectations for returns for each asset class, as well as the target asset allocation of the pension portfolio.
Benefit Obligation
(a) Accumulated benefit obligation-the present value of benefits earned to date assuming no future salary growth-is materially consistent with the projected benefit obligation in each period presented.
Plan Assets
Our asset allocation strategy is to conservatively manage the assets to meet the plan’s long-term obligations while maintaining sufficient liquidity to pay current benefits. This is achieved by holding equity investments while investing a portion of assets in long duration bonds to match the long-term nature of the liabilities.
(a) Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). The fair value amounts presented in this table are intended to permit reconciliation of the assets in the fair value hierarchy to total plan assets at end of year. (b) Certain investments measured at net asset value as a practical expedient have not been classified in the fair value hierarchy. The fair values presented are intended to permit reconciliation of the total assets in the fair value hierarchy to the total plan assets.
Amounts included in Shareholders’ Equity
(a) $2,915 and $3,421, net of tax, at the end of 2026 and 2025, respectively.
Amounts included in Other Comprehensive Income
(a) $506, $30 and $664, net of tax, during 2026, 2025 and 2024, respectively.
Defined Contribution Plan
Our employees are eligible to participate in a defined contribution 401(k) plan that covers full-time employees who meet the age and service requirements of the plan. The plan is funded by employee and employer contributions. We match 50 percent of the first 6 percent of employee contributions. Employer contributions totaled approximately $1.7 million, $1.6 million and $1.9 million for 2026, 2025 and 2024, respectively. We may also make annual profit-sharing contributions to the plan at the discretion of Monro’s Compensation Committee of the Board of Directors.
In addition, we maintain an executive deferred compensation plan (the “Executive Deferred Compensation Plan”) for a broad management group whose participation in our 401(k) plan is limited by statute or regulation. The Executive Deferred Compensation Plan permits participants to defer all or any portion of the compensation that would otherwise be payable to them for the calendar year. We credit to the participants’ accounts such amounts as would have been contributed to Monro’s 401(k) plan but for the limitations that are imposed by statute or regulation. The Executive Deferred Compensation Plan is an unfunded arrangement and the participants or their beneficiaries have an unsecured claim against the general assets of Monro to the extent of their Executive Deferred Compensation Plan benefits. We maintain accounts to reflect the amounts owed to each participant. At least annually, the accounts are credited with earnings or losses calculated based on an interest rate or other formula as determined by Monro’s Compensation Committee. The total liability recorded in our financial statements at March 28, 2026 and March 29, 2025 related to the Executive Deferred Compensation Plan was approximately $1.9 million and $2.0 million, respectively. |
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Commitments and Contingencies |
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| Commitments and Contingencies | Note 14 – Commitments and Contingencies
Commitments
(a) Finance and operating lease commitments represent future undiscounted lease payments and include $44.7 million and $28.7 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised.
We believe that we can fulfill our commitments utilizing our cash flow from operations and, if necessary, cash on hand and/or bank financing.
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 |
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| Supplier Finance Program | Note 15 – 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 subject to the independent discretion of both the supplier and the participating 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 up to 360 days.
Our outstanding supplier obligations eligible for advance payment under the program totaled $226.8 million and $245.5 million as of March 28, 2026 and March 29, 2025, respectively, and are included within 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.
The Company’s confirmed obligations to suppliers participating in these financing arrangements consist of the following:
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| Related Parties and Transactions [Abstract] | |
| Related Parties and Transactions | Note 16 – Related Parties and Transactions
On March 28, 2025, the Company also entered into a consulting agreement with AlixPartners pursuant to which AlixPartners assessed the Company’s operations to develop a plan to improve the Company’s financial performance.
On May 30, 2025, the Company entered into Addendum 1 of its consulting agreement with AlixPartners, pursuant to which AlixPartners provided services to implement the plan developed from its detailed assessment of the Company (the “Operational Improvement Plan”) through July 31, 2025. Such services included the previously disclosed Store Closure Plan, improving customer experience and the Company’s selling effectiveness, driving profitable customer acquisition and activation, and increasing merchandising productivity, including mitigating tariff risk.
On August 18, 2025, the Company entered into Amendment 1 to Addendum 1 of its consulting agreement with AlixPartners, effective as of July 31, 2025, pursuant to which AlixPartners continued to provide services to implement the next phase of the Operational Improvement Plan through November 1, 2025. Such services included store operations and selling effectiveness, marketing and pricing, merchandising and inventory management, customer segmentation and insights.
On November 10, 2025, the Company entered into Amendment 2 to Addendum 1 of its consulting agreement with AlixPartners, effective as of November 2, 2025, pursuant to which AlixPartners continued to provide services to implement the next phase of the Operational Improvement Plan through December 27, 2025. Such services included embedded capabilities and transitioning tools and supporting revenue acceleration effort.
On December 23, 2025, the Company entered into a new consulting agreement with AlixPartners (the “Master Services Agreement”) pursuant to which AlixPartners will provide consulting services to the Company under various statements of work at standard engagement rates to support the Operational Improvement Plan.
The Company incurred total expenses related to AlixPartners and APS of $22.3 million in operating, selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the year ended March 28, 2026, of which $1.1 million is within Other current liabilities in our Consolidated Balance Sheets at March 28, 2026. |
Shareholder Governance Matters |
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| Shareholder Governance Matters [Abstract] | |
| Shareholder Governance Matters | Note 17 – Shareholder Governance Matters
Rights Plan
On November 9, 2025, the Board of Directors approved the adoption of a limited-duration shareholder rights plan (the “Rights Plan”), intended to protect the best interests of all Company shareholders. Pursuant to the Rights Plan, the Company issued one right for each common share outstanding as of the close of business on November 24, 2025. The rights trade with the Company’s common stock and will generally become exercisable only if an entity, person or group acquires beneficial ownership of 17.5% or more of the Company’s outstanding shares (the “triggering percentage”). If the rights become exercisable, all holders of rights (other than the entity, person or group that acquired the triggering percentage) will be entitled to purchase of a share of Series D Junior Participating Serial Preferred Stock, par value $0.01 per share, of the Company at a purchase price of $90.00, or the Company’s Board of Directors may exchange one share of the Company’s common stock for each outstanding right (other than rights owned by such entity, person or group, that acquired the triggering percentage, which would have become void). Under the Rights Plan, any person that owns more than the triggering percentage as of the adoption of the Rights Plan may continue to own its shares of common stock but may not acquire any additional shares without triggering the Rights Plan. The Rights Plan has a one-year duration, expiring on November 6, 2026. The Board of Directors may consider an earlier termination of the Rights Plan as circumstances warrant.
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. There was no Class C Preferred Stock converted during the year ended March 28, 2026. 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.
We have determined the amendments to the Class C Preferred Stock, because of the Reclassification Agreement, should be accounted for as a modification. |
Segment Reporting |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting | Note 18 – Segment Reporting
The Company has a reportable operating segment “Monro, Inc.” The accounting policies of the operating segment are the same as those described in Note 1 of our Form 10-K. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer, who regularly reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance for the Company’s reportable segment. The CODM primarily focuses on consolidated net income to evaluate its reportable segment. The CODM also uses consolidated net income for evaluating pricing strategy and to assess the performance for determining the compensation of certain employees. All segment expenses reviewed, which represent the difference between segment revenue and segment net income, consisted of the following:
(a)Other segment items consist of other income, net, included in the accompanying Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).
No asset information has been provided as we do not regularly review asset information by reportable segment. As of March 28, 2026 and March 29, 2025, assets held in the U.S. accounted for 100% of total assets. There were no major customers individually accounting for 10% or more of consolidated net revenues. |
Subsequent Events |
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Mar. 28, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 19 – Subsequent Events
On May 21, 2026, our Board of Directors declared a cash dividend of $0.28 per common share or common share equivalent to be paid to shareholders of record as of June 2, 2026. The dividend will be paid on June 16, 2026.
On May 21, 2026, we entered into the Sixth Amendment to the Credit Facility, which among other things, amends the terms of certain of the financial and restrictive covenants in the credit agreement to provide us with additional flexibility to operate our business to the Credit Facility maturity date, or November 10, 2027. See Note 6 for additional discussion related to the Sixth Amendment. |
Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Policy) |
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| Description of Business, Basis of Presentation and Summary of Significant Accounting Policies [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 1,115 Company-operated retail stores located in 32 states and 46 Car-X franchised locations as of March 28, 2026.
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.
As of March 28, 2026, Monro had two retread facilities. The retread facilities re-manufacture tires through the replacement of tread on worn tires that are later sold to customers. Monro’s operations are organized and managed as one single segment designed to offer 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. The internal management financial reporting that is the basis for evaluation to assess performance and allocate resources by our chief operating decision maker consists of consolidated data that includes the results of our retail and commercial 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. |
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| Basis of Presentation | Basis of Presentation
Principles of consolidation
The consolidated financial statements include the accounts of Monro, Inc. and its direct and indirect subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Management’s use of estimates
The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of financial statements in conformity with such principles requires the use of estimates by management during the reporting period. Actual results could differ from those estimates.
Fiscal year
We operate on a 52/53-week fiscal year ending on the last Saturday in March. Fiscal years 2026 and 2025 each contained 52 weeks and fiscal 2024 contained 53 weeks. Unless specifically indicated otherwise, any references to “2026” or “fiscal 2026,” “2025” or “fiscal 2025,” and “2024” or “fiscal 2024” relate to the years ended March 28, 2026, March 29, 2025 and March 30, 2024, respectively.
Correction of previously issued financial statements
While preparing the 2026 consolidated financial statements, the Company identified a prior period error in the financing activities section of our Consolidated Statements of Cash Flows for the years ended March 29, 2025 and March 30, 2024 and the quarters ended June 28, 2025, September 27, 2025 and December 27, 2025, related to the presentation of proceeds from borrowings and principal payments on borrowings associated with the Company’s Credit Facility. The error did not have an impact to our Consolidated Balance Sheets, Consolidated Statement of Income and Comprehensive Income or Consolidated Statement of Changes in Shareholders’ Equity for any of the impacted periods, nor did it have any impact on total cash flows from operating, investing, or financing activities.
Although the Company determined that the error did not have a material impact on its previously issued annual and quarterly consolidated financial statements, the Company has corrected the error on the effected annual statements of cash flows included herein and will correct the affected interim statements of cash flows in future filings of quarterly reports on Form 10-Q, as applicable, to reflect proceeds from borrowings under the credit facility as cash inflows from financing activities and repayments of borrowings under the credit facility as cash outflows from financing activities, without affecting any cash flow totals. Our annual Consolidated Statements of Cash Flow reflect the changes in proceeds from borrowings under the credit facility cash inflows (outflows) from financing activities for the fiscal year ended March 29, 2025 and March 30, 2024, as shown in the charts below.
Recent accounting pronouncements
In December 2023, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires income tax disclosure updates, primarily by requiring specific categories and greater disaggregation within the rate reconciliation and disaggregation of income taxes paid by jurisdiction. This guidance is effective for fiscal years beginning after December 15, 2024. We prospectively adopted this guidance during the fourth quarter of fiscal 2026. The adoption of this guidance did not have a material impact on our consolidated financial statements. See Note 8 for additional information.
In November 2024, the FASB issued new accounting guidance, ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization, and operating, selling, general and administrative expenses. The guidance is effective for annual reporting periods beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. We are currently evaluating the impact of adopting this guidance.
In September 2025, the FASB issued new accounting guidance, ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which removes references to prescriptive software development stages and includes an updated framework for capitalizing internal software costs. The guidance is effective for annual reporting periods beginning after December 15, 2027, and for interim periods within that fiscal year. We are currently evaluating the impact of adopting this guidance.
In December 2025, the FASB issued new accounting guidance, ASU 2025-11, Interim Reporting (Topic 270): Narrow Scope Improvements, which clarifies the scope and requirement for interim financial statement disclosures. The amendments create a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose, in interim periods, any event or change since the previous year-end that has a material effect on the entity. The guidance is effective for annual reporting periods beginning after December 15, 2027, and for interim periods within that fiscal year. We are currently evaluating the impact of adopting this guidance.
Other recent authoritative guidance issued by the FASB (including technical corrections to the Accounting Standards Codification (“ASC”)) and the Securities and Exchange Commission (“SEC”) did not or are not expected to have a material effect on our consolidated financial statements.
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| Cash and Cash Equivalents | Cash and cash equivalents Cash consists primarily of cash on hand and deposits with banks. Cash equivalents include highly liquid investments with an original maturity of three months or less from the time of purchase. Cash equivalents also include amounts due from third-party financial institutions for credit and debit card transactions. These receivables typically settle in three days or less. |
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| Inventories | Inventories Our inventories, which consist of automotive parts and oil as well as tires, are valued at the lower of weighted average cost and net realizable value. |
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| Property and Equipment, Net | Property and equipment, net
Property and equipment, net is stated at historical cost less accumulated depreciation. Property and equipment are depreciated using the straight-line method over estimated useful lives. Leasehold improvements are depreciated over the shorter of their estimated useful lives or the related lease terms. When assets are disposed of, the resulting gain or loss is recognized in operating, selling, general and administrative (“OSG&A”) expense on the Consolidated Statement of Income and Comprehensive Income. Expenditures for maintenance and repairs are expensed as incurred.
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| Capitalized Internal Use Software Costs | Capitalized internal use software costs
We capitalize the cost of computer software developed or obtained for internal use. Capitalized computer software costs consist primarily of payroll-related and consulting costs incurred during the application development stage. The Company expenses costs related to preliminary project assessments, research and development, re-engineering, training and application maintenance as they are incurred. Capitalized software costs are amortized on a straight-line basis over an estimated life of to 10 years. Property and equipment included capitalized computer software currently under development of approximately $8.4 million and $6.3 million, within construction-in-progress, as of March 28, 2026 and March 29, 2025, respectively. During the year ended March 28, 2026, we implemented Oracle HCM, a cloud-based human resources and payroll system, which included capitalized computer software development costs of approximately $7.0 million. These costs are within equipment, signage, and fixtures in property and equipment. See Note 4 for additional information on property and equipment. |
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| Valuation of Long-Lived Assets | Valuation of long-lived assets
We review for impairment to our long-lived assets, which include property and equipment and right-of-use (“ROU”) assets, whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. Long-lived assets are grouped at the store level and evaluated for impairment at the lowest level for which there are identifiable cash flows that are independent of the cash flows of other groups of assets. If it is determined that the carrying amounts of such long-lived assets are not recoverable, the assets are written down to their estimated fair values. Fair value of the assets is determined based on the highest and best use of the asset group, considering external market participant assumptions.
During fiscal 2026, impairment charges of $0.3 million were recorded. During fiscal 2025, we evaluated certain stores having indicators of impairment based on operating performance. Based on the estimate of future recoverable cash flows, we recorded impairment charges in fiscal 2025 totaling $24.4 million. The impairment charges consisted of $8.8 million of operating lease ROU assets, $5.5 million of finance lease ROU assets and $10.1 million of leasehold improvements and equipment. Impairment charges of $1.9 million were recorded during fiscal 2024. |
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| Leases | Leases
We determine if an arrangement is or contains a lease at inception. We record ROU assets and lease obligations for our finance and operating leases, which are initially based on the discounted future minimum lease payments over the term of the lease. As the rate implicit in our leases is not easily determinable, our applicable incremental borrowing rate is used in calculating the present value of the lease payments. We estimate our incremental borrowing rate considering the market rates of our outstanding borrowings and comparisons to comparable borrowings of similar terms.
Lease term is defined as the non-cancelable period of the lease plus any option to extend the lease when it is reasonably certain that it will be exercised. For leases with an initial term of 12 months or less, no ROU assets or lease obligations are recorded on the balance sheet, and we recognize short-term lease expense for these leases on a straight-line basis over the lease term.
Certain of our lease agreements include rental payments based on a percentage of retail sales over specified levels and others include rental payments adjusted periodically for inflation. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. For most classes of underlying assets, we have elected to separate lease from non-lease components. We have elected to combine lease and non-lease components for certain classes of equipment. We generally sublease excess space to third parties.
Operating lease expense is recognized on a straight-line basis over the lease term and is included in cost of sales, including occupancy costs (“cost of sales”) or OSG&A expense. Amortization expense for finance leases is recognized on a straight-line basis over the lease term and is included in cost of sales or OSG&A expense. Interest expense for finance leases is recognized using the effective interest method, and is included in interest expense, net of interest income. Variable payments, short-term rentals and payments associated with non-lease components are expensed as incurred. See Note 12 for additional information on leases. |
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| Guarantees | Guarantees
At the time we issue a guarantee, we recognize an initial liability for the value of the obligation we assume under that guarantee. Monro has guaranteed certain lease payments related to lease assignments amounting to $18.6 million. This amount represents the maximum potential amount of future payments under the guarantees as of March 28, 2026. Leases guaranteed by Monro have options that expire through various dates from September 2026 through January 2044. In the event of default by the assignee, Monro retains the right to assume the lease of the related store. As of March 28, 2026, we have recorded a liability of $1.3 million related to the estimated probability of defaults under the foregoing leases, with $0.1 million and $1.2 million within Other current liabilities and Other long-term liabilities in our Consolidated Balance Sheets, respectively. |
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| Goodwill and Intangible Assets | Goodwill and intangible assets
We have a history of growth through acquisitions. Assets and liabilities of acquired businesses are recorded at their estimated fair values as of the date of acquisition. Goodwill represents costs in excess of fair values assigned to the underlying net assets of acquired businesses. The Company reviews goodwill for impairment during the third quarter of each year, or earlier upon the occurrence of a triggering event. We have one reporting unit which encompasses all operations including new acquisitions. Generally, fair value of the reporting unit is determined using a discounted projected future cash flows model and is compared to the carrying value of the reporting unit for purposes of identifying potential impairment. The calculation of fair value under the discounted future cash flows is based on estimates including revenue projections, EBITDA margin and discount rate, among others. Projected future cash flows are based on management’s knowledge of the current operating environment and expectations for the future. Goodwill impairment is recognized for any excess of the reporting unit’s carrying value over its fair value, not to exceed the total amount of goodwill. No impairment was recorded in fiscal 2026, 2025 or 2024. Results of the goodwill impairment reviews performed during 2026 and 2025 are summarized in Note 5.
Our intangible assets primarily represent allocations of purchase price to identifiable intangible assets of acquired businesses and are amortized over their estimated useful lives. All intangible assets are evaluated for impairment whenever events or changes in circumstances indicate that an impairment may exist. If such indicators are present, it is determined whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying values. Based on our review as of March 28, 2026, we concluded that the carrying values of our intangible assets were not impaired. No impairment was recorded in fiscal 2026, 2025 or 2024. A deterioration of macroeconomic conditions may not only negatively impact the estimated operating cash flows used in our cash flow models but may also negatively impact other assumptions used in our analyses, including, but not limited to, the estimated cost of capital and/or discount rate. Additionally, we are required to ensure that assumptions used to determine fair value in our analyses are consistent with the assumptions a hypothetical marketplace participant would use. As a result, the cost of capital and/or discount rate used in our analyses may increase or decrease based on market conditions and trends, regardless of whether our actual cost of capital has changed. Therefore, we may recognize an impairment of an intangible asset or assets even though realized actual cash flows are approximately equal to or greater than our previously forecasted amounts. See Note 5 for additional information on goodwill and intangible assets. |
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| Store Closings | Store closings
On May 23, 2025, following an evaluation of market segmentation and demographic data specific to geographic areas where our stores are located, our Board of Directors approved a plan to close 145 underperforming stores that we identified to have failed to maintain an acceptable level of profitability (the “Store Closure Plan”), and these stores were closed in the first quarter of fiscal 2026.
For the year ended March 28, 2026, we recorded total expenses of $14.8 million related to the Store Closure Plan, which include $10.7 million in expected costs to be incurred related to the vacating of stores, utilities, real estate taxes, maintenance, other on-going costs related to the properties, $3.5 million related to the disposal of inventory and other store assets and $0.6 million related to third-party vendors and other expected cost adjustments. These expenses were recorded in in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). As of March 28, 2026, the Company had a remaining liability of $3.7 million, representing such costs to be settled in future periods, with $1.8 million and $1.9 million included within Other current liabilities and Other long-term liabilities in our Consolidated Balance Sheets, respectively. We expect these costs to be settled within the next to five years.
The table below summarizes the changes in our closed stores reserves by activity for the year ended March 28, 2026 as follows:
As of March 28, 2026, the Company had sold 26 owned stores and related equipment under the Store Closure Plan. We received net proceeds of $19.7 million and recorded a net gain of $9.9 million. Additionally, the Company assigned 36 leases to third parties and early terminated 32 leases. We received net proceeds of $5.6 million and recorded a net gain of $12.2 million, which included the derecognition of lease liabilities, under the Store Closure Plan. These net gains were recorded in in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). |
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| 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 required criteria are met. 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.
On May 23, 2025, our Board of Directors approved the Store Closure Plan related to 145 underperforming stores. These stores were closed and we determined that $13.0 million of building, land and certain equipment met the criteria to be classified as held for sale during the first quarter of fiscal 2026. For the year ended March 28, 2026, approximately $8.8 million of assets held for sale were sold. As of March 28, 2026, $4.2 million of buildings, land and certain equipment remain classified as assets held for sale. On June 1, 2023, we announced the planned sale of our corporate headquarters at 200 Holleder Parkway in Rochester, New York and our plan to relocate our corporate headquarters to another location in the greater Rochester area and determined that the related assets met the criteria to be classified as held for sale. On July 3, 2024, we completed the sale of our corporate headquarters. We received net proceeds of approximately $9.1 million and recorded a net gain of approximately $2.8 million in operating selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the year ended March 29, 2025. |
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| Insurance Reserves | Insurance reserves
We maintain a high retention deductible plan with respect to workers’ compensation and general liability insurance claims (except for in Ohio in which we are self-insured) and are otherwise self-insured for employee medical claims. To reduce our risk and better manage our overall loss exposure, we purchase stop-loss insurance that covers individual claims more than the deductible amounts, and caps total losses in a fiscal year. We maintain an accrual for the estimated cost to settle open claims as well as an estimate of the cost of claims that have been incurred but not reported. These estimates take into consideration the historical average claim volume, the average cost for settled claims, current trends in claim costs, changes in our business and workforce, and general economic factors. These accruals are reviewed on a quarterly basis. For more complex reserve calculations, such as workers’ compensation, we periodically use the services of an actuary to assist in determining the required reserve for open claims. |
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| Warranty | Warranty
We provide an accrual for estimated future warranty costs for parts that we install based upon the historical relationship of warranty costs to sales. See Note 7 for additional information on tire road hazard warranty agreements.
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| Comprehensive Income | Comprehensive income
As it relates to Monro, comprehensive income is defined as net income as adjusted for pension liability adjustments and is reported net of related taxes in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) and in the Consolidated Statements of Changes in Shareholders’ Equity. |
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| Income Taxes | Income taxes
We account for income taxes pursuant to the asset and liability method which requires the recognition of deferred tax assets and liabilities related to the expected future tax consequences arising from temporary differences between the carrying amounts and tax bases of assets and liabilities based on enacted statutory tax rates applicable to the periods in which the temporary differences are expected to reverse. Any effects of changes in income tax rates or laws are included in income tax expense in the period of enactment. A valuation allowance is recognized if we determine it is more likely than not that all or a portion of a deferred tax asset will not be recognized. In making such determination, the Company considers all available evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent and expected future results of operation. Monro recognizes a tax benefit from an uncertain tax position in the financial statements only when it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits and a consideration of the relevant taxing authority's administrative practices and precedents. See Note 8 for additional information on income taxes.
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| Treasury Stock | Treasury stock
Treasury stock is accounted for using the par value method. |
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| Share-Based Compensation | Share-based compensation
We provide share-based compensation through non-qualified stock options, restricted stock awards, restricted stock units and performance stock units. We measure compensation cost arising from the grant of share-based payments to an employee at fair value and recognize such cost in income over the period during which the employee is required to provide service in exchange for the award, usually the vesting period. The fair value of each option award is estimated on the date of grant primarily using the Black-Scholes option valuation model. The assumptions used to estimate fair value require judgment and are subject to change in the future due to factors such as employee exercise behavior, stock price trends, and changes to type or provisions of share-based awards. Any material change in one or more of these assumptions could have an impact on the estimated fair value of a future award.
(a)Risk-free interest rates are yields for zero coupon U.S. Treasury notes maturing approximately at the end of the expected option term. (b)Expected term is based on historical exercise behavior and on the terms and conditions of the stock option award. (c)Expected volatility is based on a combination of historical volatility, using Monro stock prices over a period equal to the expected term, and implied market volatility. (d)Dividend yield is based on historical dividend experience and expected future changes, if any. (e)There were no non-qualified stock options issued in fiscal 2026.
The fair value of restricted stock awards, restricted stock units and performance stock units (collectively, “restricted stock”) are generally determined based on the stock price at the date of grant.
We are required to estimate forfeitures and only record compensation costs for those awards that are expected to vest. The assumptions for forfeitures were determined based on type of award and historical experience. Forfeiture assumptions are adjusted at the point in time a significant change is identified, with any adjustment recorded in the period of change, and the final adjustment at the end of the requisite service period to equal actual forfeitures.
We recognize compensation expense related to stock options and restricted stock using the straight-line approach. Option awards and restricted stock generally vest equally over the service period established in the award, typically three years or four years. See Note 10 for additional detail on stock-based compensation.
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| Earnings (Loss) Per Common Share | Earnings (loss) per common share
Basic earnings (loss) per common share amounts are calculated by dividing income (loss) available to common shareholders, after deducting preferred stock dividends, by the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per common share amounts are calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities.
Diluted earnings (loss) per share includes the potential dilutive effect of common stock equivalents as if such securities were converted or exercised during the period when the effect is dilutive. Because the impact of these items is generally anti-dilutive during periods of net loss, there is no difference between basic and diluted loss per common share for periods with net losses. |
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| Advertising | Advertising
The cost of advertising is generally expensed at the first time the advertising takes place, except for direct response advertising which is capitalized and amortized over its expected period of future benefit. Total advertising expenses were approximately $31.5 million, $19.0 million and $15.4 million in fiscal 2026, 2025 and 2024, respectively, and are included within operating selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).
Direct response advertising consists primarily of coupons for Monro’s services. The capitalized costs of this advertising are amortized over the period of the coupon’s validity, which is typically two months.
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| Vendor Rebates | Vendor rebates
We receive vendor support in the form of allowances through a variety of vendor-sponsored programs, such as volume rebates, promotions, and advertising allowances, referred to as “vendor rebates”. Vendor rebates are primarily recorded as a reduction of cost of sales. We establish a receivable for vendor rebates that are earned but not yet received. Based on purchase data and the terms of the applicable vendor-sponsored programs, we estimate the amount earned. Most of the year-end vendor rebates receivable is collected within the following first quarter. See Note 3 for additional information on vendor rebates. |
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| Working Capital Management | Working capital management
As part of our ongoing efforts to manage our working capital and improve our cash flow, certain financial institutions offer to certain of our suppliers a voluntary supply chain finance program to provide our suppliers with the opportunity to sell receivables due from us (our accounts payable) to a participating financial institution subject to the independent discretion of both the supplier and the participating financial institution. Should a supplier choose to participate in the program, it may receive payment from the financial institution in advance of agreed contractual payment terms; our responsibility is limited to making payments to the respective financial institution on the terms originally negotiated with our supplier and no other guarantees are provided by us under the supply chain finance program. We have no economic interest in a supplier’s decision to participate and we have no direct financial relationship with the financial institutions, as it relates to the supply chain finance program. We have concluded that the program is a trade payable program and not indicative of a borrowing arrangement. See Note 15 for additional information. |
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Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Tables) |
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Description of Business, Basis of Presentation and Summary of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Error Corrections and Prior Period Adjustments |
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| Schedule of Estimated Useful Lives |
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| Schedule of Changes in Our Closed Stores Reserves by Activity |
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| Schedule of Share-Based Compensation Valuation Assumptions |
(a)Risk-free interest rates are yields for zero coupon U.S. Treasury notes maturing approximately at the end of the expected option term. (b)Expected term is based on historical exercise behavior and on the terms and conditions of the stock option award. (c)Expected volatility is based on a combination of historical volatility, using Monro stock prices over a period equal to the expected term, and implied market volatility. (d)Dividend yield is based on historical dividend experience and expected future changes, if any. (e)There were no non-qualified stock options issued in fiscal 2026.
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Other Current Assets (Tables) |
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Current Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of Other Current Assets |
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Property and Equipment (Tables) |
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Major Classifications of Property, Plant and Equipment |
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Goodwill and Intangible Assets (Tables) |
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Composition of Other Intangible Assets |
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| Estimated Future Amortization of Intangible Assets |
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Revenue (Tables) |
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Disaggregated Revenue by Product Group | .
(a) Includes the sale of tire road hazard warranty agreements and tire delivery commissions. |
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| Schedule of Changes in Deferred Revenue |
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Income Taxes (Tables) |
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation Between Federal Statutory Tax Rate and Effective Tax Rate Reflected in Accompanying Financial Statements |
(a)State and local taxes in make up the majority (greater than 50%) of the tax effect of the state and local income tax category. (b)Tax expense of $661 related to nondeductible share-based compensation is classified within nontaxable or non-deductible items in the effective tax rate reconciliation for 2026.
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| Components of (Benefit from) Provision for Income Taxes |
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| Schedule of Income Taxes Paid Net of Refunds |
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| Deferred Tax (Liabilities) Assets |
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| Income Taxes Associated with Unrecognized Tax Benefits |
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Share-Based Compensation (Tables) |
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Mar. 28, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Compensation [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Changes in Outstanding Stock Options |
(a)Total shares valued at the market price of the underlying stock as of March 28, 2026, less the exercise price. |
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| Summary of Non-Vested Restricted Stock Activity |
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Earnings (Loss) Per Common Share (Tables) |
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings (Loss) Per Common Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of Basic and Diluted Earnings per Share |
(a)The computation of diluted earnings per common share for fiscal 2026 excludes the effect of approximately 97 shares related to restricted stock and 1,204 preferred stock conversions, as these had an anti-dilutive effect upon the calculation of net income available to the Company’s common shareholders per share during the year ended March 28, 2026. (b)The computation of diluted loss per common share for fiscal 2025 excludes the effect of approximately 86 shares related to restricted stock and 1,204 preferred stock conversions, as the impact of these items is generally anti-dilutive during periods of net loss. Because of this, there is no difference between basic and diluted loss per common share for periods with net losses. |
Leases (Tables) |
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Operating and Finance Lease Costs |
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| Schedule of Future Maturities of Lease Liabilities |
(a)Operating lease obligations include approximately $28.7 million related to options to extend operating leases that are reasonably certain of being exercised. (b)Finance lease payments include approximately $44.7 million related to options to extend finance leases that are reasonably certain of being exercised. |
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| Schedule of Weighted Average Remaining Lease Terms and Discount Rates |
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| Schedule of Supplemental Cash Flow Information Related to Leases |
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Defined Benefit and Defined Contribution Plans (Tables) |
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Mar. 28, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Defined Benefit and Defined Contribution Plans [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Funded Status |
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| Estimated Future Pension Benefit Payments |
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| Components of Net Pension Benefits Expense |
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| Weighted Average Assumptions Used to Determine Benefit Obligations |
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| Weighted Average Assumptions Used to Determine Net Periodic Pension Costs |
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| Changes in Projected Benefit Obligations and Plan Assets | Benefit Obligation
(a) Accumulated benefit obligation-the present value of benefits earned to date assuming no future salary growth-is materially consistent with the projected benefit obligation in each period presented.
Plan Assets
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| Company's Asset Allocations by Asset Category |
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| Fair Value Measurement Information for the Company's Major Categories of Defined Benefit Plan Assets |
(a) Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). The fair value amounts presented in this table are intended to permit reconciliation of the assets in the fair value hierarchy to total plan assets at end of year. (b) Certain investments measured at net asset value as a practical expedient have not been classified in the fair value hierarchy. The fair values presented are intended to permit reconciliation of the total assets in the fair value hierarchy to the total plan assets. |
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| Amounts Recognized in Accumulated Other Comprehensive Loss |
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| Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Loss) Income |
(a) $506, $30 and $664, net of tax, during 2026, 2025 and 2024, respectively. |
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Commitments and Contingencies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Payments Due by Period |
(a) Finance and operating lease commitments represent future undiscounted lease payments and include $44.7 million and $28.7 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised. |
Supplier Finance Program (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 28, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplier Finance Program [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Confirmed Obligations to Suppliers |
|
Segment Reporting (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 28, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Segment Reporting Information, by Segment |
(a)Other segment items consist of other income, net, included in the accompanying Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). |
Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Schedule of Estimated Useful Lives) (Details) |
Mar. 28, 2026 |
|---|---|
| Buildings and Improvements [Member] | Minimum [Member] | |
| Property, Plant and Equipment [Line Items] | |
| Useful lives | 5 years |
| Buildings and Improvements [Member] | Maximum [Member] | |
| Property, Plant and Equipment [Line Items] | |
| Useful lives | 39 years |
| Equipment, Signage and Fixtures [Member] | Minimum [Member] | |
| Property, Plant and Equipment [Line Items] | |
| Useful lives | 3 years |
| Equipment, Signage and Fixtures [Member] | Maximum [Member] | |
| Property, Plant and Equipment [Line Items] | |
| Useful lives | 15 years |
| Vehicles [Member] | Minimum [Member] | |
| Property, Plant and Equipment [Line Items] | |
| Useful lives | 5 years |
| Vehicles [Member] | Maximum [Member] | |
| Property, Plant and Equipment [Line Items] | |
| Useful lives | 10 years |
Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Schedule of Changes in Our Closed Stores Reserves by Activity) (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Mar. 28, 2026
USD ($)
| |
| Description of Business, Basis of Presentation and Summary of Significant Accounting Policies [Abstract] | |
| Reserve balance at the beginning of the year | $ 0 |
| Expenses recorded | $ 10,652 |
| Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] | Operating, selling, general and administrative expenses |
| Payments made | $ (6,388) |
| Other adjustments | (543) |
| Reserve balance at the end of the year | $ 3,721 |
Description of Business, Basis of Presentation and Summary of Significant Accounting Policies (Schedule of Share-Based Compensation Valuation Assumptions) (Details) |
12 Months Ended | |
|---|---|---|
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Weighted average fair value of options granted | ||
| Risk-free interest rate | 5.04% | 4.22% |
| Expected term (years) | 4 years | 4 years |
| Expected volatility | 35.28% | 40.60% |
| Dividend yield | 4.16% | 3.07% |
Other Current Assets (Composition of Other Current Assets) (Details) - USD ($) $ in Thousands |
Mar. 28, 2026 |
Mar. 29, 2025 |
|---|---|---|
| Other current assets | ||
| Insurance receivable | $ 19,771 | $ 11,950 |
| Vendor rebates receivable | 10,397 | 16,029 |
| Prepaid assets | 9,349 | 8,663 |
| Divestiture deferred proceeds receivable | 3,474 | |
| Other | 12,009 | 19,310 |
| Total | $ 51,526 | $ 59,426 |
Property and Equipment (Narrative) (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Property and Equipment [Abstract] | |||
| Depreciation expense | $ 31.3 | $ 36.5 | $ 38.8 |
Property and Equipment (Major Classifications of Property, Plant and Equipment) (Details) - USD ($) $ in Thousands |
Mar. 28, 2026 |
Mar. 29, 2025 |
|---|---|---|
| Major classifications of property, plant and equipment | ||
| Property and equipment | $ 641,660 | $ 693,201 |
| Less - Accumulated depreciation | 399,803 | 434,252 |
| Property and equipment, net | 241,857 | 258,949 |
| Land [Member] | ||
| Major classifications of property, plant and equipment | ||
| Property and equipment | 75,451 | 83,752 |
| Buildings and Improvements [Member] | ||
| Major classifications of property, plant and equipment | ||
| Property and equipment | 298,224 | 298,063 |
| Equipment, Signage and Fixtures [Member] | ||
| Major classifications of property, plant and equipment | ||
| Property and equipment | 246,951 | 289,167 |
| Vehicles [Member] | ||
| Major classifications of property, plant and equipment | ||
| Property and equipment | 10,287 | 11,266 |
| Construction-in-Progress [Member] | ||
| Major classifications of property, plant and equipment | ||
| Property and equipment | $ 10,747 | $ 10,953 |
Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Goodwill and Intangible Assets [Abstract] | |||
| Goodwill | $ 736,435 | $ 736,435 | |
| Amortization of intangible assets | $ 2,700 | $ 2,900 | $ 3,300 |
| Percentage of fair value of reporting unit in excess of carrying value | 20.00% | 25.00% | |
Goodwill and Intangible Assets (Changes in Goodwill) (Details) $ in Thousands |
Mar. 28, 2026
USD ($)
|
|---|---|
| Changes in goodwill | |
| Balance at beginning of period | $ 736,435 |
| Balance at end of period | $ 736,435 |
Goodwill and Intangible Assets (Estimated Future Amortization of Intangible Assets) (Details) - Customer Lists, Trade Names, Franchise Agreements and Other Intangible Assets [Member] $ in Thousands |
Mar. 28, 2026
USD ($)
|
|---|---|
| Estimated future amortization of intangible assets | |
| 2027 | $ 2,322 |
| 2028 | 2,177 |
| 2029 | 1,398 |
| 2030 | 967 |
| 2031 | $ 444 |
Revenue (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||
| Payment term | 30 days | ||
| Deferred revenue | $ 18,753 | $ 21,048 | $ 21,687 |
| Deferred revenue, current | 13,194 | 14,696 | |
| Deferred revenue, noncurrent | $ 5,600 | $ 6,300 | |
| 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 |
Revenue (Schedule of Disaggregated Revenue by Product Group) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Disaggregation of Revenue [Line Items] | |||
| Revenues | $ 1,157,176 | $ 1,195,334 | $ 1,276,789 |
| Tires [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenues | 550,450 | 565,102 | 594,465 |
| Maintenance Service [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenues | 312,994 | 329,284 | 357,197 |
| Brakes [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenues | 154,765 | 157,484 | 175,421 |
| Steering [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenues | 101,637 | 101,410 | 104,235 |
| Batteries [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenues | 20,789 | 23,862 | 21,610 |
| Exhaust [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenues | 15,015 | 16,703 | 19,068 |
| Franchise Royalties [Member] | |||
| Disaggregation of Revenue [Line Items] | |||
| Revenues | $ 1,526 | $ 1,489 | $ 4,793 |
Revenue (Schedule of Changes in Deferred Revenue) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
|
| Revenue [Abstract] | ||
| Balance at beginning of period | $ 21,048 | $ 21,687 |
| Deferral of revenue | 18,226 | 21,085 |
| Recognition of revenue | (20,521) | (21,724) |
| Balance at end of period | $ 18,753 | $ 21,048 |
Income Taxes (Narrative) (Details) - USD ($) |
12 Months Ended | |||
|---|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
Mar. 25, 2023 |
|
| Income Taxes [Abstract] | ||||
| Income (loss) before income taxes | $ 3,100,000 | $ (5,913,000) | $ 51,880,000 | |
| Income taxes paid, net | 241,000 | 4,000,000.0 | 5,300,000 | |
| State net operating loss carryforwards available | 12,300,000 | |||
| Federal net operating loss carrybacks | 13,180,000 | 1,675,000 | ||
| Unrecognized tax benefits | 0 | 1,399,000 | $ 2,385,000 | $ 3,709,000 |
| Interest and penalties accrued related to unrecognized tax benefits | $ 0 | $ 0 | ||
Income Taxes (Components of (Benefit from) Provision for Income Taxes) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Current: | |||
| Federal | $ (731) | $ 4,910 | |
| State | $ 51 | (139) | 368 |
| Total current | 51 | (870) | 5,278 |
| Deferred: | |||
| Federal | 990 | (9) | 5,649 |
| State | (114) | 148 | 3,382 |
| Total deferred | 876 | 139 | 9,031 |
| Total provision for (benefit from) income taxes | $ 927 | $ (731) | $ 14,309 |
Income Taxes (Schedule Of Income Taxes Paid Net Of Refunds) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||
| Income Taxes Paid, Net | $ 241 | $ 4,000 | $ 5,300 |
| Federal Taxes [Member] | |||
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||
| Income Taxes Paid, Net | 0 | ||
| New Jersey [Member] | |||
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||
| Income Taxes Paid, Net | 108 | ||
| New York [Member] | |||
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||
| Income Taxes Paid, Net | 99 | ||
| Other [Member] | |||
| Income Tax Paid, by Individual Jurisdiction [Line Items] | |||
| Income Taxes Paid, Net | $ 34 | ||
Income Taxes (Deferred Tax (Liabilities) Assets) (Details) - USD ($) $ in Thousands |
Mar. 28, 2026 |
Mar. 29, 2025 |
|---|---|---|
| Deferred tax (liabilities) assets | ||
| Lease liabilities | $ 130,273 | $ 143,627 |
| Federal loss carryforward | 13,180 | 1,675 |
| Insurance Accrual | 9,950 | 10,590 |
| Other | 28,169 | 21,195 |
| Total gross deferred tax assets | 181,572 | 177,087 |
| Valuation allowance | (587) | (595) |
| Total deferred tax assets | 180,985 | 176,492 |
| Leased assets | (102,942) | (109,156) |
| Goodwill | (99,042) | (89,572) |
| Other | (17,166) | (14,875) |
| Total deferred tax liabilities | (219,150) | (213,603) |
| Total net deferred tax liability | $ (38,165) | $ (37,111) |
Income Taxes (Income Taxes Associated with Unrecognized Tax Benefits) (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Income taxes associated with unrecognized tax benefits | |||
| Unrecognized Tax Benefits, Beginning Balance | $ 1,399,000 | $ 2,385,000 | $ 3,709,000 |
| Additions for tax positions of prior years | 404,000 | 67,000 | |
| Reductions for tax positions of prior years | (391,000) | ||
| Settlements for tax positions of prior years | (675,000) | ||
| Lapse in statutes of limitation | (1,008,000) | (715,000) | (1,391,000) |
| Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 1,399,000 | $ 2,385,000 |
Stock Ownership (Narrative) (Details) |
12 Months Ended | ||
|---|---|---|---|
|
Mar. 28, 2026
$ / shares
|
Mar. 29, 2025 |
Dec. 23, 2023 |
|
| Stock Ownership [Abstract] | |||
| Distribution amount per share of preferred stock on liquidation of company | $ 1.50 | ||
| Minimum percentage of preferred stock holders approval for authorization of action | 60.00% | ||
| Preferred stock, conversion ratio | 61.275 | 61.275 | 23.389 |
Share-Based Compensation (Summary of Changes in Outstanding Stock Options) (Details) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Summary of changes in outstanding stock options | |||
| Options outstanding, beginning balance | 499,403 | ||
| Options outstanding, exercised | 0 | 0 | 0 |
| Options outstanding, canceled | (173,356) | ||
| Options outstanding, ending balance | 326,047 | 499,403 | |
| Options, vested and exercisable | 215,183 | ||
| Weighted average exercise price, beginning of period | $ 43.48 | ||
| Weighted average exercise price, canceled | 44.26 | ||
| Weighted average exercise price, end of period | 43.04 | $ 43.48 | |
| Weighted average exercise price, vested and exercisable | $ 49.17 | ||
| Weighted average remaining contractual term (years), options outstanding | 3 years 2 months 1 day | ||
| Weighted average remaining contractual term (years), vested and exercisable | 2 years 10 months 17 days | ||
Share-Based Compensation (Summary of Non-Vested Restricted Stock Activity) (Details) - Restricted Stock [Member] - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Shares, Nonvested | 378,901 | ||
| Shares, Granted | 679,656 | ||
| Shares, Vested | (80,851) | ||
| Shares, Forfeited | (108,769) | ||
| Shares, Nonvested | 868,937 | 378,901 | |
| Weighted-average grant-date fair value per share, Nonvested | $ 32.22 | ||
| Weighted-average grant-date fair value per share, Granted | 15.09 | $ 25.65 | $ 37.09 |
| Weighted-average grant-date fair value per share, Vested | 30.78 | ||
| Weighted-average grant-date fair value per share, Forfeited | 33.49 | ||
| Weighted-average grant-date fair value per share, Nonvested | $ 19.48 | $ 32.22 | |
Earnings (Loss) per Common Share (Narrative) (Details) - shares |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Earnings (Loss) Per Common Share [Abstract] | |||
| Antidilutive securities excluded from computation of earnings (loss) per share | 816,000 | 767,000 | 608,000 |
Leases (Narrative) (Details) - USD ($) $ in Thousands |
Mar. 28, 2026 |
Mar. 29, 2025 |
|---|---|---|
| Sale Leaseback Transaction [Line Items] | ||
| Finance lease and financing obligation assets, net | $ 148,807 | $ 159,794 |
| Long-term finance leases and financing obligations | 193,173 | 220,783 |
| Failed Sale Leasebacks That Were Assumed Through Acquisitions [Member] | ||
| Sale Leaseback Transaction [Line Items] | ||
| Finance lease and financing obligation assets, net | 1,000 | 2,200 |
| Long-term finance leases and financing obligations | $ 2,400 | $ 4,300 |
| Minimum [Member] | ||
| Sale Leaseback Transaction [Line Items] | ||
| Remaining lease term | 1 year | |
| Option to extend, term of option | 3 years | |
| Maximum [Member] | ||
| Sale Leaseback Transaction [Line Items] | ||
| Remaining lease term | 32 years | |
| Option to extend, term of option | 30 years |
Leases (Schedule of Operating and Finance Lease Costs) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Leases [Abstract] | |||
| Operating lease cost | $ 43,547 | $ 45,518 | $ 44,454 |
| Amortization of leased assets | 27,702 | 30,075 | 30,286 |
| Interest on lease liabilities | 10,665 | 12,083 | 13,513 |
| Short term and variable lease cost | 618 | 1,200 | 1,749 |
| Sublease income | (128) | (136) | (166) |
| Total lease cost | $ 82,404 | $ 88,740 | $ 89,836 |
Leases (Schedule of Future Maturities of Lease Liabilities) (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Mar. 28, 2026
USD ($)
| |
| Operating Leases: | |
| 2027 | $ 47,571 |
| 2028 | 42,206 |
| 2029 | 34,284 |
| 2030 | 26,990 |
| 2031 | 21,287 |
| Thereafter | 57,569 |
| Total undiscounted lease obligations | 229,907 |
| Less: imputed interest | (33,952) |
| Present value of lease obligations | 195,955 |
| Finance Leases and Financing Obligations: | |
| 2027 | 46,289 |
| 2028 | 45,269 |
| 2029 | 36,039 |
| 2030 | 32,172 |
| 2031 | 26,556 |
| Thereafter | 92,251 |
| Finance lease commitments/financing obligations, Total | 278,576 |
| Less: imputed interest | (48,629) |
| Present value of lease obligations | 229,947 |
| Finance lease payments, related to options to extend, reasonable certain of being exercised | 44,700 |
| Operating lease payments, related to options to extend, reasonably certain of being exercised | $ 28,700 |
Leases (Schedule of Weighted Average Remaining Lease Terms and Discount Rates) (Details) |
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|---|---|---|---|
| Operating Leases | |||
| Weighted average remaining lease term (years) | 6 years 10 months 24 days | 7 years 1 month 6 days | 7 years 3 months 18 days |
| Weighted average discount rate | 4.50% | 4.14% | 3.77% |
| Finance Leases and Financing Obligations | |||
| Weighted average remaining lease term | 7 years 8 months 12 days | 7 years 10 months 24 days | 8 years 6 months |
| Weighted average discount rate | 5.23% | 5.17% | 5.41% |
Leases (Schedule of Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Leases [Abstract] | |||
| Operating cash flows from operating leases | $ 48,226 | $ 47,954 | $ 46,355 |
| Operating cash flows from finance leases and financing obligations | 10,729 | 12,177 | 13,712 |
| Financing cash flows from finance leases and financing obligations | $ 38,689 | $ 39,758 | $ 39,031 |
Defined Benefit and Defined Contribution Plans (Narrative) (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Defined Benefit and Defined Contribution Plans [Abstract] | |||
| Charges to expense for the company's matching contributions | $ 1,700,000 | $ 1,600,000 | $ 1,900,000 |
| Total liability, deferred compensation plan | 1,900,000 | $ 2,000,000.0 | |
| Expected contributions for fiscal 2026 | $ 0 | ||
| Defined contribution plan, employer matching contribution, percent of employees' gross pay | 6.00% | ||
| Defined contribution plan, employer matching contribution, percent of match | 50.00% | ||
Defined Benefit and Defined Contribution Plans (Funded Status) (Details) - USD ($) $ in Thousands |
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|---|---|---|---|
| Defined Benefit and Defined Contribution Plans [Abstract] | |||
| Projected benefit obligations | $ 15,395 | $ 15,859 | $ 16,489 |
| Fair value of plan assets | 16,777 | 16,640 | $ 17,272 |
| Overfunded status | $ 1,382 | $ 781 |
Defined Benefit and Defined Contribution Plans (Estimated Future Pension Benefit Payments) (Details) $ in Thousands |
Mar. 28, 2026
USD ($)
|
|---|---|
| Defined Benefit and Defined Contribution Plans [Abstract] | |
| 2027 | $ 1,204 |
| 2028 | 1,213 |
| 2029 | 1,241 |
| 2030 | 1,256 |
| 2031 | 1,258 |
| 2032-2036 | $ 6,045 |
Defined Benefit and Defined Contribution Plans (Components of Net Pension Benefits Expense) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Defined Benefit and Defined Contribution Plans [Abstract] | |||
| Interest cost on projected benefit obligation | $ 808 | $ 815 | $ 812 |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] | Other income, net | ||
| Expected return on plan assets | $ (873) | (910) | (818) |
| Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Other income, net | ||
| Amortization of unrecognized actuarial loss | $ 146 | 138 | 192 |
| Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Other income, net | ||
| Net pension income | $ 81 | $ 43 | $ 186 |
Defined Benefit and Defined Contribution Plans (Weighted Average Assumptions Used to Determine Benefit Obligations) (Details) |
Mar. 28, 2026 |
Mar. 29, 2025 |
|---|---|---|
| Defined Benefit and Defined Contribution Plans [Abstract] | ||
| Discount rate | 5.46% | 5.39% |
Defined Benefit and Defined Contribution Plans (Weighted Average Assumptions Used to Determine Net Periodic Pension Costs) (Details) |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Defined Benefit and Defined Contribution Plans [Abstract] | |||
| Discount rate | 5.39% | 5.22% | 4.94% |
| Expected long-term rate of return on plan assets | 5.50% | 5.50% | 5.00% |
Defined Benefit and Defined Contribution Plans (Changes in Projected Benefit Obligations and Plan Assets) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Change in Plan Assets: | |||
| Fair value of plan assets at beginning of year | $ 16,640 | $ 17,272 | |
| Actual gain on plan assets | 1,231 | 442 | |
| Benefits paid | (1,094) | (1,074) | |
| Fair value of plan assets at end of year | 16,777 | 16,640 | $ 17,272 |
| Change in Projected Benefit Obligation: | |||
| Benefit obligation at beginning of year | 15,859 | 16,489 | |
| Interest cost | 808 | 815 | 812 |
| Actuarial loss | (178) | (371) | |
| Benefits paid | (1,094) | (1,074) | |
| Benefit obligation at end of year | $ 15,395 | $ 15,859 | $ 16,489 |
Defined Benefit and Defined Contribution Plans (Company's Asset Allocations by Asset Category) (Details) |
Mar. 28, 2026 |
Mar. 29, 2025 |
|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Defined Benefit Plan, Current Targeted Plan Asset Allocations | 100.00% | |
| Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
| Cash and Cash Equivalents [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 1.00% |
| Fixed Income [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Defined Benefit Plan, Current Targeted Plan Asset Allocations | 70.00% | |
| Defined Benefit Plan, Actual Plan Asset Allocations | 73.00% | 70.30% |
| Equity Securities [Member] | ||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Defined Benefit Plan, Current Targeted Plan Asset Allocations | 30.00% | |
| Defined Benefit Plan, Actual Plan Asset Allocations | 26.00% | 28.70% |
Defined Benefit and Defined Contribution Plans (Amounts Recognized in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands |
Mar. 28, 2026 |
Mar. 29, 2025 |
|---|---|---|
| Defined Benefit and Defined Contribution Plans [Abstract] | ||
| Unamortized net actuarial loss | $ 3,847 | $ 4,530 |
| Amounts in Accumulated Other Comprehensive Loss | 3,847 | 4,530 |
| Amounts in Accumulated Other Comprehensive Loss, net of tax | $ 2,915 | $ 3,421 |
Defined Benefit and Defined Contribution Plans (Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|
| Defined Benefit and Defined Contribution Plans [Abstract] | |||
| Net actuarial Income | $ 683 | $ 41 | $ 897 |
| Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Immediate Recognition of Actuarial Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent |
| Amounts in Other Comprehensive Income | $ 683 | $ 41 | $ 897 |
| Amounts in Other Comprehensive Income, net of tax | $ 506 | $ 30 | $ 664 |
Supplier Finance Program (Narrative) (Details) - USD ($) $ in Thousands |
Mar. 28, 2026 |
Mar. 29, 2025 |
Mar. 30, 2024 |
|---|---|---|---|
| Supplier Finance Program [Abstract] | |||
| Payment terms, period | 360 days | ||
| Outstanding supplier obligations | $ 226,800 | $ 245,500 | $ 167,200 |
| Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] | Accounts payable | Accounts payable |
Supplier Finance Program (Schedule of Confirmed Obligations to Suppliers) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
|
| Supplier Finance Program [Abstract] | ||
| Confirmed obligations outstanding at the beginning of the year | $ 245,500 | $ 167,200 |
| Invoices confirmed during the year | 270,300 | 323,700 |
| Confirmed invoices paid during the year | (289,000) | (245,400) |
| Confirmed obligations outstanding at the end of the year | $ 226,800 | $ 245,500 |
| Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] | Accounts payable | Accounts payable |
Related Parties and Transactions (Narrative) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Mar. 28, 2026 |
Mar. 29, 2025 |
|
| Related Party Transaction [Line Items] | ||
| Other current liabilities | $ 34,234 | $ 30,731 |
| AlixPartners and APS [Member] | ||
| Related Party Transaction [Line Items] | ||
| Incurred expenses | 22,300 | |
| Other current liabilities | $ 1,100 |
Segment Reporting (Narrative) (Details) |
12 Months Ended |
|---|---|
|
Mar. 28, 2026
segment
| |
| Segment Reporting Information [Line Items] | |
| Number of reportable segments | 1 |
| Number of operating segments | 1 |
| Geographic Concentration Risk [Member] | Assets, Total [Member] | |
| Segment Reporting Information [Line Items] | |
| Concentration risk, percentage | 100.00% |
Subsequent Events (Narrative) (Details) - Subsequent Event [Member] |
May 21, 2026
$ / shares
|
|---|---|
| Subsequent Event [Line Items] | |
| Common stock cash dividends per share declared | $ 0.28 |
| O2025Q4 Dividends [Member] | |
| Subsequent Event [Line Items] | |
| Dividends payable, date of record | Jun. 02, 2026 |
| Cash dividend date to be paid | Jun. 16, 2026 |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Mar. 28, 2026 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | Risk Management and Strategy
We execute a comprehensive cybersecurity program designed to provide structured and thorough cybersecurity risk management and governance. Our cybersecurity program is aligned with industry-wide recognized standards, such as the National Institute of Standards and Technology (NIST) Cybersecurity Framework. Our program prioritizes, among other things, prevention of unauthorized access; protection of sensitive information; detection, assessment, and response to cybersecurity threats; and continuous improvement of our cybersecurity measures. The Company has established comprehensive incident response and recovery plans, regularly tests and evaluates the effectiveness of those plans, and maintains cybersecurity risk insurance.
Our cybersecurity program has a set of controls and priorities with a multi-pronged approach that includes:
●quarterly cybersecurity awareness training for teammates, weekly phishing simulation testing and other cybersecurity awareness campaigns (e.g., articles, flyers, cybersecurity awareness month);
●a dedicated security operations team to monitor, analyze, and respond to security threats 24/7;
●security governance to manage and maintain security processes;
●intrusion, detection, and prevention systems;
●a vulnerability management program to identify and remediate security liabilities;
●a configuration management program to harden systems based on industry standards;
●industry-leading email security, endpoint detection, and response platforms;
●threat intelligence from multiple resources to identify and anticipate emerging threats;
●network and web application firewalls;
●multi-factor authentication;
●network segmentation to isolate and safeguard critical systems and sensitive data; and
●an Artificial Intelligence (“AI”) Implementation and Risk Management policy, guided by the NIST AI Risk Management Framework, to promote responsible, secure and compliant use of AI technology at the Company.
The Company assesses cybersecurity risks on an ongoing basis, including assessing and deploying technical safeguards designed to protect its information systems from cybersecurity threats. We regularly evaluate new and emerging risks and ever-changing legal and compliance requirements and examine the effectiveness and maturity of our cyber defenses through various means, including internal audits, targeted testing, incident response exercises, maturity assessments, and industry benchmarking.
The Company engages with a range of external professionals, including cybersecurity experts, consultants, auditors, and legal counsel to leverage specialized knowledge, experience and insights, to help ensure our cybersecurity strategies and processes remain current. This includes:
●engaging third-party experts to periodically advise and train our Board and management regarding the structure and oversight of our cybersecurity program, Incident Response Plan (“IRP”) and various cybersecurity-related matters;
●retaining data security and data privacy legal counsel whose practice focuses on data breach response, information security compliance, and compliance with the data privacy laws in the various jurisdictions in which the Company operates; and
●utilizing specialized consultants and third-party managed service providers to assist us with projects that will improve the Company’s IT infrastructure, strengthen our security posture and cybersecurity incident investigations, and improve our cyber readiness.
The Company has implemented processes to identify, prioritize, assess, mitigate and remediate risks associated with third-party service providers. As part of these processes, we conduct security assessments of critical third-party providers before engagement and contractually require third parties we engage to implement security programs commensurate with their risk.
In the event of a cybersecurity incident, a cross-functional team - led by the Senior Vice President - Chief Information Officer (our “CISO”) and Chief Legal Officer (“CLO”) - is equipped with a well-defined IRP. The IRP includes immediate actions intended to mitigate the impact of the incident, and long-term strategies for remediation and prevention of future incidents. Among other things, the IRP sets forth roles and responsibilities in connection with detecting, assessing, and mitigating cybersecurity incidents and outlines applicable communication and escalation protocols. The IRP includes controls and procedures that are designed to ensure prompt escalation of certain cybersecurity incidents to our Chief Executive Officer and Chief Financial Officer and to the Audit Committee so that, among other things, decisions regarding public disclosure and reporting of such incidents can be made in a timely manner. The Company regularly tests and evaluates the effectiveness of the IRP and the Company’s recovery plan. Our cybersecurity program is designed to prevent unauthorized access and protect sensitive information, with a focus on continuous improvement of our cybersecurity measures. While we have not experienced any material cybersecurity threats or incidents to date, we can give no assurance that we will be able to prevent, identify, respond to, or mitigate the impact of all cybersecurity threats or incidents. To the extent future cybersecurity threats or incidents result in significant disruptions and costs to our operations, reduce the effectiveness of our internal control over financial reporting, or otherwise substantially impact our business, it could have a material adverse effect on our business, liquidity, financial condition, and/or results of operations. For additional discussion on our cybersecurity risks, refer to Item 1A. “Risk Factors” of this Form 10-K. |
| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | We execute a comprehensive cybersecurity program designed to provide structured and thorough cybersecurity risk management and governance. Our cybersecurity program is aligned with industry-wide recognized standards, such as the National Institute of Standards and Technology (NIST) Cybersecurity Framework. Our program prioritizes, among other things, prevention of unauthorized access; protection of sensitive information; detection, assessment, and response to cybersecurity threats; and continuous improvement of our cybersecurity measures. The Company has established comprehensive incident response and recovery plans, regularly tests and evaluates the effectiveness of those plans, and maintains cybersecurity risk insurance. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] | The Company has implemented processes to identify, prioritize, assess, mitigate and remediate risks associated with third-party service providers. As part of these processes, we conduct security assessments of critical third-party providers before engagement and contractually require third parties we engage to implement security programs commensurate with their risk. In the event of a cybersecurity incident, a cross-functional team - led by the Senior Vice President - Chief Information Officer (our “CISO”) and Chief Legal Officer (“CLO”) - is equipped with a well-defined IRP. The IRP includes immediate actions intended to mitigate the impact of the incident, and long-term strategies for remediation and prevention of future incidents. Among other things, the IRP sets forth roles and responsibilities in connection with detecting, assessing, and mitigating cybersecurity incidents and outlines applicable communication and escalation protocols. The IRP includes controls and procedures that are designed to ensure prompt escalation of certain cybersecurity incidents to our Chief Executive Officer and Chief Financial Officer and to the Audit Committee so that, among other things, decisions regarding public disclosure and reporting of such incidents can be made in a timely manner. The Company regularly tests and evaluates the effectiveness of the IRP and the Company’s recovery plan. |
| Cybersecurity Risk Board of Directors Oversight [Text Block] |
Governance
Board Oversight
The Board of Directors oversees the management of risks inherent in the operation of our business, with a focus on the most significant risks that we face, including those related to cybersecurity. The Board of Directors has delegated oversight of cybersecurity, including privacy and information security, to the Audit Committee. As such, the Audit Committee is central to the Board of Directors oversight of cybersecurity risks and bears primary responsibility for this area.
The Audit Committee is composed of independent directors with diverse expertise including risk management, strategic planning, finance, and accounting and controls, in addition to relevant experience of board practices of other public companies. Audit Committee members also attend both in-house and external training on cybersecurity matters which we believe equips them to oversee cybersecurity risks effectively.
Management’s Role
Our CISO has primary operational responsibility for the Company’s cybersecurity function. The CISO has served in various roles in information technology and information security for over 36 years, with ten years’ experience in cybersecurity. The CISO, together with the Senior Director - Infrastructure & Security - who has 31 years’ experience in various information technology and information security roles and 12 years of cybersecurity experience - and the CLO have primary responsibility for assessing and managing material cybersecurity risks. This group, and their supporting teams, meet regularly to review security performance metrics, identify security risks, and assess the status of approved security enhancements. This group also considers and makes recommendations on security policies and procedures, security service requirements, and risk mitigation strategies.
The CISO plays a pivotal role in informing the Audit Committee on cybersecurity risks. She provides comprehensive presentations to the Audit Committee on a quarterly basis, or as needed. These presentations encompass a broad range of cybersecurity topics, which may include our cybersecurity program and governance processes; cyber risk monitoring and management; the status of projects to strengthen our cybersecurity and privacy capabilities; recent significant incidents or threats impacting our operations, industry, or third-party suppliers; and the emerging threat landscape. The Audit Committee actively participates and offers guidance in strategic decisions related to cybersecurity. This involvement helps ensure that cybersecurity considerations are integrated into our broader strategic and risk management objectives. Our CISO also meets with other senior leadership team members on a weekly basis. In addition, she meets with the Board of Directors on an annual basis, and as needed, where she reports on significant cybersecurity matters and strategic risk management decisions. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Board of Directors oversees the management of risks inherent in the operation of our business, with a focus on the most significant risks that we face, including those related to cybersecurity. The Board of Directors has delegated oversight of cybersecurity, including privacy and information security, to the Audit Committee. As such, the Audit Committee is central to the Board of Directors oversight of cybersecurity risks and bears primary responsibility for this area.
The Audit Committee is composed of independent directors with diverse expertise including risk management, strategic planning, finance, and accounting and controls, in addition to relevant experience of board practices of other public companies. Audit Committee members also attend both in-house and external training on cybersecurity matters which we believe equips them to oversee cybersecurity risks effectively. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | Our CISO has primary operational responsibility for the Company’s cybersecurity function. The CISO has served in various roles in information technology and information security for over 36 years, with ten years’ experience in cybersecurity. The CISO, together with the Senior Director - Infrastructure & Security - who has 31 years’ experience in various information technology and information security roles and 12 years of cybersecurity experience - and the CLO have primary responsibility for assessing and managing material cybersecurity risks. This group, and their supporting teams, meet regularly to review security performance metrics, identify security risks, and assess the status of approved security enhancements. This group also considers and makes recommendations on security policies and procedures, security service requirements, and risk mitigation strategies.
The CISO plays a pivotal role in informing the Audit Committee on cybersecurity risks. She provides comprehensive presentations to the Audit Committee on a quarterly basis, or as needed. These presentations encompass a broad range of cybersecurity topics, which may include our cybersecurity program and governance processes; cyber risk monitoring and management; the status of projects to strengthen our cybersecurity and privacy capabilities; recent significant incidents or threats impacting our operations, industry, or third-party suppliers; and the emerging threat landscape. The Audit Committee actively participates and offers guidance in strategic decisions related to cybersecurity. This involvement helps ensure that cybersecurity considerations are integrated into our broader strategic and risk management objectives. Our CISO also meets with other senior leadership team members on a weekly basis. In addition, she meets with the Board of Directors on an annual basis, and as needed, where she reports on significant cybersecurity matters and strategic risk management decisions. |
| Cybersecurity Risk Role of Management [Text Block] | In the event of a cybersecurity incident, a cross-functional team - led by the Senior Vice President - Chief Information Officer (our “CISO”) and Chief Legal Officer (“CLO”) - is equipped with a well-defined IRP. The IRP includes immediate actions intended to mitigate the impact of the incident, and long-term strategies for remediation and prevention of future incidents. Among other things, the IRP sets forth roles and responsibilities in connection with detecting, assessing, and mitigating cybersecurity incidents and outlines applicable communication and escalation protocols. The IRP includes controls and procedures that are designed to ensure prompt escalation of certain cybersecurity incidents to our Chief Executive Officer and Chief Financial Officer and to the Audit Committee so that, among other things, decisions regarding public disclosure and reporting of such incidents can be made in a timely manner. The Company regularly tests and evaluates the effectiveness of the IRP and the Company’s recovery plan. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | In the event of a cybersecurity incident, a cross-functional team - led by the Senior Vice President - Chief Information Officer (our “CISO”) and Chief Legal Officer (“CLO”) - is equipped with a well-defined IRP. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | Our CISO has primary operational responsibility for the Company’s cybersecurity function. The CISO has served in various roles in information technology and information security for over 36 years, with ten years’ experience in cybersecurity. The CISO, together with the Senior Director - Infrastructure & Security - who has 31 years’ experience in various information technology and information security roles and 12 years of cybersecurity experience - and the CLO have primary responsibility for assessing and managing material cybersecurity risks. This group, and their supporting teams, meet regularly to review security performance metrics, identify security risks, and assess the status of approved security enhancements. This group also considers and makes recommendations on security policies and procedures, security service requirements, and risk mitigation strategies. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | The CISO plays a pivotal role in informing the Audit Committee on cybersecurity risks. She provides comprehensive presentations to the Audit Committee on a quarterly basis, or as needed. These presentations encompass a broad range of cybersecurity topics, which may include our cybersecurity program and governance processes; cyber risk monitoring and management; the status of projects to strengthen our cybersecurity and privacy capabilities; recent significant incidents or threats impacting our operations, industry, or third-party suppliers; and the emerging threat landscape. The Audit Committee actively participates and offers guidance in strategic decisions related to cybersecurity. This involvement helps ensure that cybersecurity considerations are integrated into our broader strategic and risk management objectives. Our CISO also meets with other senior leadership team members on a weekly basis. In addition, she meets with the Board of Directors on an annual basis, and as needed, where she reports on significant cybersecurity matters and strategic risk management decisions. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |