Monro closes 145 stores, posts $7.3M net gain; comps turn positive but liquidity tightens

Filed May 27, 2026 · Period ending March 28, 2026 · Compared to 10-K May 28, 2025 · ~2 min read

Key Changes

• high

  Executed 145-store closure plan in Q1 FY2026, reducing footprint from 1,260 to 1,115 locations. Realized $7.3M net gain after selling 26 owned stores and exiting 68 leases, offsetting $14.8M in closing costs.

  Business: Store count and closures verify on EDGAR →
• high

  Comparable store sales turned positive (+1.4%) after prior-year decline of 5.3%, but total sales fell 3.2% due to closed stores. Operating income rose 59.4% to $20.0M, driven by lower impairment charges ($0.3M vs. $24.4M) and store-closure gains, offset by $20.3M in AlixPartners consulting costs.

  MD&A: Sales and operating income verify on EDGAR →
• high

  Sixth consecutive credit facility amendment (May 2026) reduced facility size to $400M (from $500M), lowered minimum interest coverage to 1.25x, and cut liquidity requirement for dividends to $200M. Total liquidity fell to $384.4M from $505.1M year-over-year.

  MD&A: Credit facility and liquidity verify on EDGAR →