Monro, Inc. reported a net loss of $2.1 million for the three months ended June 27, 2026, a significant improvement compared to a net loss of $8.1 million during the same period in the previous year. The company's revenue for the quarter was $287.1 million, down 4.6% from $301.0 million in the prior year, primarily due to closed stores and lower comparable store sales, which decreased by 1.7%. The gross profit also declined to $100.4 million, representing a 6.1% decrease from the previous year, with gross profit as a percentage of sales slightly down to 35.0%.
In terms of operational changes, Monro closed 145 underperforming stores as part of a strategic Store Closure Plan, which was fully executed in the first quarter of fiscal 2026. The company ended the quarter with 1,115 retail locations, unchanged from the previous year. The closure of these stores contributed to a decrease in sales, but the company reported a notable reduction in operating, selling, general, and administrative expenses, which fell by 14.4% to $96.7 million, largely due to decreased store closing costs.
Monro's financial position showed a working capital deficit of $241.1 million as of June 27, 2026, an improvement from a deficit of $281.2 million at the end of the previous fiscal year. The company had $9.5 million in cash and equivalents and $261.5 million available under its credit facility, which had an outstanding balance of $108.4 million. The company declared dividends of $0.28 per share, totaling $8.7 million, consistent with the previous year.
Looking ahead, Monro's management expressed optimism about future performance, citing expectations for positive operating cash flow and plans for capital expenditures between $25 million and $35 million in fiscal 2027. The company aims to leverage its operational improvements and strategic decisions to enhance profitability and market share. Additionally, Monro's recent amendments to its credit facility provide increased flexibility in managing its financial obligations and pursuing growth opportunities.
About MONRO, INC.
Monro, Inc. operates a nationwide network of retail tire and automotive repair stores in the U.S., offering tire sales, vehicle maintenance, and repair services for passenger cars and light trucks. The company emphasizes convenience, value, and customer service across multiple brands, leveraging scale, strategic acquisitions, and a broad supplier network to serve both retail and commercial customers in a highly competitive industry.
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