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Red Flags Detected

  • Sixth Credit Amendment Within One Year Of Fifth Amendment (new) — Company required further covenant relief beyond the original window, lowering minimum interest coverage ratio to 1.25x and reducing facility size by another $100M, indicating ongoing financial pressure.
  • Negative Comparable Store Sales (worsened) — Comps swung from +5.7% growth to -1.7% decline year-over-year, signaling demand weakness or competitive headwinds.
  • Operating Cash Flow Deterioration (worsened) — Q1 operating cash use increased from $1.9M to $30.4M, driven by a $44.6M working-capital outflow, straining liquidity.
NASDAQ: MNRO MONRO, INC. 10-Q

Q1 sales fall 4.6% on store closures and negative comps; sixth credit amendment cuts facility to $400M

Filed July 29, 2026 · Period ending June 27, 2026 · Compared to 10-Q Jul 30, 2025 · ~2 min read

Key Changes

  • high

    Credit Facility reduced from $500M to $400M under sixth amendment; borrowings rose to $108.4M from $71.5M while availability fell to $261.5M from $398.4M, reflecting increased reliance on the revolver.

    Notes: Credit Facility amendment verify on EDGAR →
  • high

    Q1 FY27 sales fell 4.6% on closed stores and a 1.7% comparable store sales decline (vs. +5.7% comp growth in prior year), signaling weakening demand or competitive pressure.

    MD&A: Sales and comparable store sales verify on EDGAR →
  • high

    Adjusted diluted EPS swung from +$0.22 to -$0.09; GAAP operating income turned positive at $3.7M (vs. -$6.1M loss) but adjusted operating income fell to $2.2M from $14.0M, indicating weaker underlying profitability.

    MD&A: Operating income and adjusted EPS verify on EDGAR →

2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.

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View original filing on SEC.gov View full financials on EDGAR ↗

Source-verified from EDGAR · Narrative written by AI · Jul 30, 2026 · How we verify