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Description Of Business And Basis Of Presentation (Policy)
 6 Months Ended
Sep. 26, 2020
Description Of Business And Basis Of Presentation [Abstract]  
Description of business Description of Business

Monro, Inc. and its wholly owned operating subsidiaries, Monro Service Corporation, Car-X, LLC, MNRO Holdings, LLC and MNRO Service Holdings, LLC (together, “Monro”, the “Company”, “we”, “us”, or “our”), are engaged principally in providing automotive undercar repair and tire sales and services in the United States.

Monro’s operations are organized and managed in one operating segment. The internal management financial reporting that is the basis for evaluation in order to assess performance and allocate resources by our chief operating decision maker consists of consolidated data that includes the results of our retail, commercial and wholesale 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.
Fiscal year Fiscal Year

We report our results on a 52/53 week fiscal year with the fiscal year ending on the last Saturday in March of each year. The following are the dates represented by each fiscal period reported in the Consolidated Financial Statements:

“Quarter Ended Fiscal September 2020”

June 28, 2020 – September 26, 2020 (13 weeks)

“Quarter Ended Fiscal September 2019”

June 30, 2019 – September 28, 2019 (13 weeks)

“Six Months Ended Fiscal September 2020”

March 29, 2020 – September 26, 2020 (26 weeks)

“Six Months Ended Fiscal September 2019”

March 31, 2019 – September 28, 2019 (26 weeks)

Fiscal 2021 is a 52 week year.
Reclassifications Reclassifications

Certain amounts in these financial statements have been reclassified to maintain comparability among the periods presented.
Recent Accounting Pronouncements Recent Accounting Pronouncements

In August 2018, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance which eliminates, adds and modifies certain disclosure requirements for fair value measurements. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2019. Early adoption was permitted. We adopted this guidance during the first quarter of fiscal 2021. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements.

In December 2019, the FASB issued new accounting guidance intended to simplify the accounting for income taxes. The new guidance removes certain exceptions to the general principles in Accounting Standards Codification Topic 740 Income Taxes and amends existing guidance to improve consistent application. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2020. Early adoption is permitted. The adoption of this guidance is not expected to have a material impact on our Consolidated Financial Statements.

Other recent authoritative guidance issued by the FASB (including technical corrections to the Accounting Standards Codification) and the Securities and Exchange Commission did not, or are not expected to, have a material effect on our Consolidated Financial Statements.