Monro, Inc. reported a decrease in sales for the fiscal year ending March 28, 2026, with total revenues of $1.16 billion, down 3.2% from $1.20 billion in the previous year. The decline was attributed to the closure of 145 underperforming stores, which negatively impacted overall sales, although comparable store sales increased by 1.4%. The company recorded a net income of $2.2 million, a significant recovery from a net loss of $5.2 million in the prior year. Diluted earnings per share improved to $0.03, compared to a loss of $0.22 per share in fiscal 2025.
In terms of operational changes, Monro executed a Store Closure Plan that resulted in the closure of 145 stores, which was part of a strategic evaluation of market conditions. The closures incurred $14.8 million in costs, but the company also realized gains from the sale of 26 owned stores, totaling $19.7 million, and recorded a net gain of $7.3 million from lease assignments and early terminations. As of March 28, 2026, Monro operated 1,115 retail locations, a reduction from 1,260 the previous year.
The company has focused on enhancing its operational efficiency and customer engagement through various initiatives, including the implementation of a new cloud-based human resources system and ongoing training programs for employees. Monro's workforce consisted of approximately 6,440 employees as of the end of the fiscal year. The company also emphasized its commitment to sustainability, recycling approximately 1.6 million gallons of oil and 3.1 million tires during the year.
Looking ahead, Monro's management expressed cautious optimism regarding future performance, citing ongoing economic challenges such as inflation and labor market constraints. The company has amended its credit facility to provide additional operational flexibility, reducing the minimum interest coverage ratio and allowing for potential acquisitions. Monro aims to leverage its market position and continue to adapt to changing consumer demands while maintaining a focus on profitability and growth.
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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