<SEC-DOCUMENT>0001193125-16-492687.txt : 20160407
<SEC-HEADER>0001193125-16-492687.hdr.sgml : 20160407
<ACCEPTANCE-DATETIME>20160304105000
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ACCESSION NUMBER:		0001193125-16-492687
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160304

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MONRO MUFFLER BRAKE INC
		CENTRAL INDEX KEY:			0000876427
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING [7500]
		IRS NUMBER:				160838627
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		200 HOLLEDER PKWY
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14615-3808
		BUSINESS PHONE:		5856476400

	MAIL ADDRESS:	
		STREET 1:		200 HOLLEDER PKWY
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14615-3808
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March 3, 2016 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">VIA
EDGAR AND OVERNIGHT MAIL </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms. Melissa Raminpour </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Branch
Chief </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Transportation and Leisure </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States
Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Judiciary Plaza </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC&nbsp;20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">RE:</TD>
<TD ALIGN="left" VALIGN="top">Monro Muffler Brake, Inc. (the &#147;Company&#148;) </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Form 10-K for the Fiscal Year Ended March
28, 2015 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Filed May 27, 2015 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">File No. 000-19357 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms. Raminpour: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Monro Muffler Brake, Inc., a New York Corporation, please find below the Company&#146;s response to your comment letter dated February 22, 2016.
In this letter, references to &#147;we,&#148; &#147;ours,&#148; &#147;us&#148; and the &#147;Company&#148; refer to Monro Muffler Brake, Inc. Unless otherwise indicated, capitalized terms used herein have the meanings assigned to them in the Form
10-K. In responding to these comments, the Company acknowledges that: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">the Company is responsible for the adequacy and accuracy of the disclosure in our filing; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top">the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under the federal securities laws of the United States. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The numbered paragraphs below set forth the staff&#146;s comments together with our response. For your convenience, we have repeated each of the staff&#146;s
comments in italics immediately above our responses to each corresponding comment. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form 10-K for the Fiscal Year Ended March 28, 2015</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item 5. Market for the Company&#146;s Common Equity and Related Stockholder Matters, page 16</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>1. Please tell us your consideration for including the performance graph as required by Item 201(e) of Regulation S-K. </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response:</B> It is our understanding that the performance graph is required to be included in the Company&#146;s annual report to stockholders, but not in
its Form 10-K. This understanding is based on Instruction 7 to Item 201(e) of Regulation S-K, which states that &#147;the information required by paragraph (e) of Item 201 need not be provided in any filings other than an annual report to security
holders required by Exchange Act Rule 14a-3 or Exchange Act Rule 14c-3 that precedes or accompanies a registrant&#146;s proxy or information statement relating to an annual meeting of security holders at which directors are to be elected (or special
meeting or written consents in lieu of such meeting).&#148; Further the staff of the Division of Corporation Finance has indicated in Regulation S-K Compliance and Disclosure Interpretations Question 106.10 that the performance graph is not required
to be included under Item 5 of Form 10-K and need only be provided in the issuer&#146;s annual report to stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The performance graph as required
by Item 201(e) of Regulation S-K is included in the Company&#146;s 2015 Annual Report under the Financial Highlights section on page 5. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Critical Accounting Policies </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Carrying Values
of Goodwill and Long-Lived Assets, page 19 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>2. We note from your disclosure that you compare the fair value of your invested
capital to the book value of your invested capital for purposes of the first step in a goodwill impairment analysis. As &#147;invested capital&#148; is not a term defined in ASC 350-20, please tell us your definition of &#147;invested capital&#148;.
To the extent your definition of invested capital differs from the reporting unit or enterprise value, please explain. </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response:</B> The term
&#147;invested capital&#148;, as used in the Company&#146;s disclosure, is intended to have the same meaning as the term &#147;reporting unit&#148;, as defined in ASC 350-20. In response to the Staff&#146;s comment, in future filings on Form 10-K
and Form 10-Q, the Company will replace the term &#147;invested capital&#148; with the term &#147;reporting unit&#148;. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please feel free to call the undersigned at 585-784-3335 should you have any questions or require additional
information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Catherine D&#146;Amico</P></TD></TR>
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<TD VALIGN="bottom">Catherine D&#146;Amico</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Executive Vice President &#150; Finance,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Treasurer and Chief Financial Officer</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CD: kar </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">CC:</TD>
<TD ALIGN="left" VALIGN="top">Ms. Heather Clark &#150; Securities and Exchange Commission </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Ms. Claire Erlanger &#150;
Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mr. Robert G. Gross &#150; Chairman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mr. John W. Van Heel &#150; Chief Executive Officer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Ms. Maureen E. Mulholland, Esq. &#150; General Counsel </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Monro Muffler Brake, Inc. Audit Committee Members </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mr. Alexander McClean, Esq. &#150; Harter Secrest &amp; Emery LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mr. Keith Stolzenburg &#150; PricewaterhouseCoopers LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mr. Brian J. D&#146;Ambrosia &#150; Monro Muffler Brake, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Ms. Eileen M. Tometsko &#150; Monro Muffler Brake, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Mr. Christian M. Snyder &#150; Monro Muffler Brake, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Ms. Michelle A. Cohen &#150; Monro Muffler Brake, Inc. </P>
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