10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 29, 2013.

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             

Commission File Number: 0-19357

MONRO MUFFLER BRAKE, INC.

(Exact name of registrant as specified in its charter)

New York	16-0838627
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification #)
200 Holleder Parkway, Rochester, New York	14615
(Address of principal executive offices)	(Zip code)

585-647-6400

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    x  Yes    ¨  No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    x  Yes    ¨  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	x	Accelerated filer	¨
Non-accelerated filer	¨  (Do not check if a smaller reporting company)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    ¨  Yes    x  No

As of July 19, 2013, 31,386,042 shares of the registrant’s common stock, par value $ .01 per share, were outstanding.

MONRO MUFFLER BRAKE, INC.

INDEX

	Page No.
Part I. Financial Information
Item 1. Financial Statements
Consolidated Balance Sheets at June 29, 2013 and March 30, 2013		3
Consolidated Statements of Comprehensive Income for the quarters ended June 29, 2013 and June 30, 2012		4
Consolidated Statement of Changes in Shareholders’ Equity for the quarter ended June 29, 2013		5
Consolidated Statements of Cash Flows for the quarters ended June 29, 2013 and June 30, 2012		6
Notes to Consolidated Financial Statements		7
Item  2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		10
Item  3. Quantitative and Qualitative Disclosures About Market Risk		12
Item  4. Controls and Procedures		13
Part II. Other Information
Item 1. Legal Proceedings		14
Item 6. Exhibits		14
Signatures		15
Exhibit Index		16

2

MONRO MUFFLER BRAKE, INC.

PART I—FINANCIAL INFORMATION

Item 1. Financial Statements

MONRO MUFFLER BRAKE, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	June 29, 2013			March 30, 2013
	(Dollars in thousands)
Assets
Current assets:
Cash and equivalents	$	1,441		$	1,463
Trade receivables		2,961			2,835
Federal and state income taxes receivable		—			2,336
Inventories		115,046			118,210
Deferred income tax asset		13,881			13,154
Other current assets		26,414			28,412
Total current assets		159,743			166,410
Property, plant and equipment		505,331			499,892
Less - Accumulated depreciation and amortization		(234,348	)		(229,034	)
Net property, plant and equipment		270,983			270,858
Goodwill		237,241			235,289
Intangible assets		26,326			28,517
Other non-current assets		9,320			10,458
Total assets	$	703,613		$	711,532
Liabilities and Shareholders’ Equity
Current liabilities:
Current portion of long-term debt, captial leases and financing obligations	$	4,847		$	4,914
Trade payables		60,739			61,006
Federal and state income taxes payable		4,000			—
Accrued payroll, payroll taxes and other payroll benefits		16,252			18,302
Accrued insurance		31,347			29,498
Warranty reserves		9,095			9,248
Other current liabilities		12,739			13,431
Total current liabilities		139,019			136,399
Long-term capital leases and financing obligations		57,163			58,899
Long-term debt		103,972			127,847
Accrued rent expense		5,869			6,057
Other long-term liabilities		11,989			11,762
Deferred income tax liability		3,416			2,096
Long-term income taxes payable		2,955			3,430
Total liabilities		324,383			346,490
Commitments
Shareholders’ equity:
Class C Convertible Preferred Stock, $1.50 par value, $.064 conversion value, 150,000 shares authorized; 32,500 shares issued and outstanding		49			49
Common Stock, $.01 par value, 65,000,000 shares authorized; 37,454,060 and 37,327,967 shares issued at June 29, 2013 and March 30, 2013, respectively		375			373
Treasury Stock, 6,073,836 shares at cost		(90,064	)		(90,064	)
Additional paid-in capital		135,605			131,460
Accumulated other comprehensive loss		(4,043	)		(4,043	)
Retained earnings		337,308			327,267
Total shareholders’ equity		379,230			365,042
Total liabilities and shareholders’ equity	$	703,613		$	711,532

The accompanying notes are an integral part of these financial statements.

3

MONRO MUFFLER BRAKE, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(UNAUDITED)

	Quarter Ended Fiscal June
	2013			2012
	(Dollars in thousands,
	except per share data)
Sales	$	206,172		$	169,175
Cost of sales, including distribution and occupancy costs		127,294			101,063
Gross profit		78,878			68,112
Operating, selling, general and administrative expenses		55,770			48,423
Operating income		23,108			19,689
Interest expense, net of interest income		1,809			1,299
Other income, net		(52	)		(53	)
Income before provision for income taxes		21,351			18,443
Provision for income taxes		7,779			6,806
Net income		13,572			11,637
Other comprehensive income:
Other comprehensive income		—			—
Comprehensive income	$	13,572		$	11,637
Earnings per share:
Basic	$	.43		$	.37
Diluted	$	.42		$	.36

The accompanying notes are an integral part of these financial statements.

4

MONRO MUFFLER BRAKE, INC.

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY

(UNAUDITED)

(Dollars in thousands)

										Accumulated
								Additional		Other
	Preferred		Common		Treasury			Paid-in		Comprehensive			Retained
	Stock		Stock		Stock			Capital		Loss (2)			Earnings			Total
Balance at March 30, 2013	$	49	$	373	$	(90,064	)	$	131,460	$	(4,043	)	$	327,267		$	365,042
Net income														13,572			13,572
Cash dividends (1): Preferred														(84	)		(84	)
Common														(3,447	)		(3,447	)
Tax benefit from exercise of stock options									946								946
Exercise of stock options				2					2,406								2,408
Stock-based compensation									793								793
Balance at June 29, 2013	$	49	$	375	$	(90,064	)	$	135,605	$	(4,043	)	$	337,308		$	379,230

(1) First quarter fiscal year 2014 dividend payment of $.11 per common share or common share equivalent paid on June 11, 2013.

(2) The balance relates to the pension liability.

The accompanying notes are an integral part of these financial statements.

5

MONRO MUFFLER BRAKE, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	Quarter Ended
	Fiscal June
	2013			2012
	(Dollars in thousands)
	Increase (Decrease) in Cash
Cash flows from operating activities:
Net income	$	13,572		$	11,637
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation and amortization		7,587			6,243
(Gain) loss on disposal of assets		(344	)		59
Stock-based compensation expense		793			609
Excess tax benefits from share-based payment arrangements		(93	)		(226	)
Net change in deferred income taxes		472			(74	)
Change in operating assets and liabilities:
Trade receivables		(126	)		(177	)
Inventories		3,164			(4,256	)
Other current assets		1,998			(2,386	)
Other non-current assets		1,409			2,115
Trade payables		(267	)		4,233
Accrued expenses		(866	)		(5,137	)
Federal and state income taxes payable		7,282			6,403
Other long-term liabilities		(573	)		(400	)
Long-term income taxes payable		(475	)		136
Total adjustments		19,961			7,142
Net cash provided by operating activities		33,533			18,779
Cash flows from investing activities:
Capital expenditures		(7,445	)		(6,985	)
Acquisitions, net of cash acquired		—			(50,919	)
Proceeds from the disposal of assets		37			2,943
Net cash used for investing activities		(7,408	)		(54,961	)
Cash flows from financing activities:
Proceeds from borrowings		61,772			97,777
Principal payments on long-term debt, capital leases and financing obligations		(86,889	)		(61,853	)
Exercise of stock options		2,408			1,022
Excess tax benefits from share-based payment arrangements		93			226
Dividends to shareholders		(3,531	)		(3,171	)
Net cash (used for) provided by financing activities		(26,147	)		34,001
Decrease in cash		(22	)		(2,181	)
Cash at beginning of period		1,463			3,257
Cash at end of period	$	1,441		$	1,076

The accompanying notes are an integral part of these financial statements.

6

MONRO MUFFLER BRAKE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1 – Condensed Consolidated Financial Statements

The consolidated balance sheets as of June 29, 2013 and March 30, 2013, the consolidated statements of comprehensive income and cash flows for the quarters ended June 29, 2013 and June 30, 2012 and the consolidated statement of changes in shareholders’ equity for the quarter ended June 29, 2013, include financial information for Monro Muffler Brake, Inc. and its wholly-owned subsidiary, Monro Service Corporation (collectively, “Monro”, “we”, “us”, “our”). These unaudited, condensed consolidated financial statements have been prepared by Monro. We believe all known adjustments (consisting of normal recurring accruals or adjustments) have been made to fairly state the financial position, results of operations and cash flows for the unaudited periods presented.

Interim results are not necessarily indicative of results for a full year. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The information included in this Form 10-Q should be read in conjunction with the audited financial statements and notes thereto included in our annual report on Form 10-K for the year ended March 30, 2013.

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 these condensed financial statements:

“Quarter Ended Fiscal June 2013”                 March 31, 2013 – June 29, 2013 (13 weeks)

“Quarter Ended Fiscal June 2012”                 April 1, 2012 – June 30, 2012 (13 weeks)

Fiscal year 2014, ending March 29, 2014, is a 52 week year.

Note 2 – Acquisitions

Acquisitions are strategic moves in our plan to fill in and expand our presence in existing and contiguous markets, and leverage fixed operating costs such as distribution and advertising.

Subsequent Event

We signed a definitive asset purchase agreement to complete the acquisition of 10 retail automotive repair stores located in the Washington, D.C. metropolitan area from Curry’s Automotive Group on July 19, 2013. These stores produced approximately $18 million in net sales for their previous full fiscal year based on unaudited pre-acquisition historical information. This transaction is expected to close during the second quarter of fiscal 2014. These retail automotive repair stores will operate under the Curry’s/Mr. Tire name. The acquisition will be financed through our existing credit facility.

Fiscal 2013

On April 1, 2012, we acquired 20 retail tire and automotive repair stores located in Virginia from Kramer Tire Co. (“Kramer”). We finalized the purchase accounting for this acquisition in the fourth quarter of fiscal 2013.

On June 3, 2012, we acquired 18 retail tire and automotive repair stores located in North Carolina from Colony Tire Corporation (“Colony”). We finalized the purchase accounting relative to the Colony acquisition during the first quarter of fiscal 2014. The resulting adjustments were not material to the Consolidated Financial Statements.

The aggregated acquisitions are not material to the Consolidated Financial Statements. Additionally, the pro forma information for the current or prior reporting periods has not been presented due to the impracticability of obtaining detailed, accurate or reliable data for the periods the acquired entities were not owned by Monro.

We continue to refine the valuation data and estimates related to road hazard warranty, intangible assets, real estate and real property leases for all other fiscal 2013 acquisitions and expect to complete the valuations no later than the first anniversary date of the respective acquisition. We anticipate that adjustments will continue to be made to the fair values of identifiable assets acquired and liabilities assumed and those adjustments may or may not be material.

7

MONRO MUFFLER BRAKE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 3 – Earnings Per Share

Basic earnings per common share (EPS) amounts are computed by dividing income available to common shareholders, after deducting preferred stock dividends, by the average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive equivalent securities outstanding.

The following is a reconciliation of basic and diluted EPS for the respective periods:

	Quarter Ended Fiscal June
	2013			2012
	(Dollars in thousands,
	except per share data)
Numerator for earnings per common share calculation:
Net Income	$	13,572		$	11,637
Preferred stock dividends		(84	)		(76	)
Income available to common stockholders	$	13,488		$	11,561
Denominator for earnings per common share calculation:
Weighted average common shares, basic		31,302			30,922
Effect of dilutive securities:
Preferred stock		760			760
Stock options		424			482
Weighted average number of common shares, diluted		32,486			32,164
Basic Earnings per common share:	$	.43		$	.37
Diluted Earnings per common share:	$	.42		$	.36

The computation of diluted EPS excludes the effect of the assumed exercise of approximately 176,000 and 566,000 stock options for the three months ended fiscal June 29, 2013 and June 30, 2012, respectively. Such amounts were excluded as the exercise prices of these stock options were greater than the average market value of our Common Stock for those periods, resulting in an anti-dilutive effect on diluted EPS.

Note 4 – Income Taxes

In the normal course of business, we provide for uncertain tax positions and the related interest and penalties, and adjust our unrecognized tax benefits and accrued interest and penalties accordingly. The total amounts of unrecognized tax benefits were $5.4 million and $5.7 million, respectively, at June 29, 2013 and March 30, 2013, the majority of which, if recognized, would affect the effective tax rate. As of June 29, 2013, we had approximately $.6 million of interest and penalties accrued related to unrecognized tax benefits.

We are currently under audit by certain state tax jurisdictions for the fiscal 2007 through 2010 tax years. It is possible that the examination phase of the audits for these years may conclude in the next 12 months, and that the related unrecognized tax benefits for tax positions taken regarding previously filed tax returns may change from those recorded as liabilities for uncertain tax positions in our financial statements as of June 29, 2013. However, based on the status of the examinations, it is not possible to estimate the effect of any amount of such change to previously recorded uncertain tax positions.

We file U.S. federal income tax returns and income tax returns in various state jurisdictions. Our fiscal 2011 and fiscal 2012 U.S. federal tax year and various state tax years remain subject to income tax examinations by tax authorities.

Note 5 – Fair Value

Long-term debt had a carrying amount and a fair value of $104.0 million as of June 29, 2013, as compared to a carrying amount and a fair value of $127.8 million as of March 30, 2013. The fair value of long-term debt was estimated based on discounted cash flow analyses using either quoted market prices for the same or similar issues, or the current interest rates offered to Monro for debt with similar maturities.

8

MONRO MUFFLER BRAKE, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 6 – Supplemental Disclosure of Cash Flow Information

The following represents non-cash investing and financing activities during the three months ended June 30, 2012.

In connection with the fiscal 2013 acquisitions, liabilities were assumed as follows:

Fair value of assets acquired	$	26,662,000
Goodwill acquired		42,252,000
Cash paid, net of cash acquired		(51,002,000	)
Liabilities assumed	$	17,912,000

Note 7 – Cash Dividend

In May 2013, our Board of Directors declared its intention to pay a regular quarterly cash dividend during fiscal 2014 of $.11 per common share or common share equivalent to be paid beginning with the first quarter of fiscal 2014. However, the declaration of and any determination as to the payment of future dividends will be at the discretion of the Board of Directors and will depend on our financial condition, results of operations, capital requirements, compliance with charter and credit facility restrictions, and such other factors as the Board of Directors deems relevant.

Note 8 – Subsequent Events

See Note 2 for a discussion of an acquisition subsequent to June 29, 2013.

9

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The statements contained in this Quarterly Report on Form 10-Q that are not historical facts, including (without limitation) statements made in the Management’s Discussion and Analysis of Financial Condition and Results of Operations, may contain statements of future expectations and other forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. When used in this Quarterly Report on Form 10-Q, the words “anticipates”, “believes”, “contemplates”, “see”, “could”, “estimate”, “intend”, “plans” and variations thereof and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed. These factors include, but are not necessarily limited to, product demand, dependence on and competition within the primary markets in which Monro’s stores are located, the need for and costs associated with store renovations and other capital expenditures, the effect of economic conditions, the impact of competitive services and pricing, parts supply restraints or difficulties, advances in automotive technologies, industry regulation, risks relating to leverage and debt service (including sensitivity to fluctuations in interest rates), continued availability of capital resources and financing, disruption or unauthorized access to our computer systems, risks relating to protection of customer and employee personal data, risks relating to litigation, risks relating to integration of acquired businesses, including goodwill impairment and the risks set forth in our Annual Report on Form 10-K for the fiscal year ended March 30, 2013. Except as required by law, we do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Results of Operations

The following table sets forth income statement data of Monro Muffler Brake, Inc. expressed as a percentage of sales for the fiscal periods indicated:

	Quarter Ended Fiscal June
	2013			2012
Sales		100.0	%		100.0	%
Cost of sales, including distribution and occupancy costs		61.7			59.7
Gross profit		38.3			40.3
Operating, selling, general and administrative expenses		27.1			28.6
Operating income		11.2			11.6
Interest expense - net		.9			.8
Other income - net		—			—
Income before provision for income taxes		10.4			10.9
Provision for income taxes		3.8			4.0
Net income		6.6	%		6.9	%

First Quarter Ended June 29, 2013 Compared to First Quarter Ended June 30, 2012

Sales were $206.2 million for the quarter ended June 29, 2013 as compared with $169.2 million in the quarter ended June 30, 2012. The sales increase of $37.0 million or 21.9%, was partially due to a comparable store sales increase of 1.2%. Additionally, there was an increase of $36.0 million related to new stores, of which $34.4 million came from the fiscal 2013 acquisitions excluding Kramer. (The Kramer stores are considered comparable stores in fiscal 2014 as they were acquired on April 1, 2012 and in operation for a full fiscal year.) Partially offsetting this was a decrease in sales from closed stores amounting to $1.0 million. There were 90 selling days in the quarter ended June 29, 2013 and in the quarter ended June 30, 2012.

At June 29, 2013, we had 935 company-operated stores and three franchised locations as compared with 836 company-operated stores and three franchised locations at June 30, 2012. (At March 30, 2013, we had 937 company-operated stores.) During the quarter ended June 29, 2013, we added one store and closed three stores.

10

We believe that the 1.2% improvement in comparable store sales resulted from several factors, including an increase in sales across several product categories; specifically, maintenance services, tire and alignment sales. It is our belief that solid in-store sales execution, effective advertising campaigns and price increases in several product categories contributed to the sales improvement. Traffic also increased over the prior year first quarter. However, we believe the continued weak economic conditions resulted in lower comparable store sales than anticipated as consumers continued to defer repairs to their vehicles.

Gross profit for the quarter ended June 29, 2013 was $78.9 million or 38.3% of sales as compared with $68.1 million or 40.3% of sales for the quarter ended June 30, 2012. The decrease in gross profit for the quarter ended June 29, 2013, as a percentage of sales, is primarily due to material costs, including outside purchases, which increased as a percentage of sales as compared to the prior year. This was largely due to a shift in mix to the lower margin tire category, which had comparable store sales increases in the quarter, as well as the result of the acquisition of more tire stores in fiscal 2013. In fact, excluding the results of the fiscal 2013 acquisition stores, gross profit as a percent of sales in total was essentially flat with the prior year quarter.

The increase in total material costs was partially offset by decreases in labor and distribution and occupancy costs as a percentage of sales. Labor productivity, as measured by sales per man hour, improved over the prior year quarter. Additionally, we achieved some leverage in distribution and occupancy costs as a result of positive comparable store sales in the quarter, as well as the increased sales from last year’s acquisitions.

Operating expenses for the quarter ended June 29, 2013 were $55.8 million or 27.1% of sales as compared with $48.4 million or 28.6% of sales for the quarter ended June 30, 2012.

Within operating expenses, over $7.7 million in operating expenses were directly attributable to increased expenses such as manager pay, advertising and supplies related to a full quarter of expenses for the fiscal 2013 acquisition stores. Offsetting the dollar increases in SG&A expenses were a decrease of approximately $.6 million in costs related to acquisitions and due diligence expenses in the first quarter of the prior year. Due to increased sales from the fiscal 2013 acquisitions and continued cost control, we gained leverage on these largely fixed administrative costs.

Operating income for the quarter ended June 29, 2013 of approximately $23.1 million increased by 17.4% as compared to operating income of approximately $19.7 million for the quarter ended June 30, 2012, and decreased as a percentage of sales from 11.6% to 11.2% for the reasons described above.

Net interest expense for the quarter ended June 29, 2013 increased by approximately $.5 million as compared to the same period in the prior year, and increased from .8% to .9% as a percentage of sales for the same periods. The weighted average debt outstanding for the quarter ended June 29, 2013 increased by approximately $97 million as compared to the quarter ended June 30, 2012. This increase is primarily related to an increase in debt outstanding under our revolving Credit Facility agreement for the purchase of our fiscal 2013 acquisitions, as well as an increase in capital leases recorded in connection with these acquisitions. Largely offsetting this increase was a decrease in the weighted average interest rate of approximately 250 basis points from the prior year due to a shift to a larger percentage of debt (revolver vs. capital leases) outstanding at a lower rate. Additionally, amortization of financing fees over the higher outstanding revolving credit balance for the quarter caused a decrease in the weighted average interest rate.

The effective tax rate for the quarter ended June 29, 2013 and June 30, 2012 was 36.4% and 36.9%, respectively, of pre-tax income.

Net income for the quarter ended June 29, 2013 of $13.6 million increased 16.6% from net income for the quarter ended June 30, 2012. Earnings per share on a diluted basis for the quarter ended June 29, 2013 of $.42 increased 16.7%.

Capital Resources and Liquidity

Capital Resources

Our primary capital requirements in fiscal 2014 are the upgrading of facilities and systems and the funding of our store expansion program, including potential acquisitions of existing store chains. For the three months ended June 29, 2013, we spent approximately $7.4 million on these items. Capital requirements were met primarily by cash flow from operations and from our revolving credit facility.

11

In May 2013, our Board of Directors declared its intention to pay a regular quarterly cash dividend of $.11 per common share or common share equivalent beginning with the first quarter of fiscal 2014. We paid dividends of $3.5 million during the three months ended June 29, 2013. However, the declaration of and any determination as to the payment of future dividends will be at the discretion of the Board of Directors and will depend on Monro’s financial condition, results of operations, capital requirements, compliance with charter and credit facility restrictions, and such other factors as the Board of Directors deems relevant.

Additionally, we have signed a definitive asset purchase agreement to acquire ten retail automotive repair stores from Curry’s Automotive Group. This transaction is expected to close prior to the end of the second quarter of fiscal 2014. The acquisition will be financed through our existing bank facility.

We also plan to continue to seek suitable acquisition candidates. We believe we have sufficient resources available (including cash flow from operations and bank financing) to expand our business as currently planned for the next twelve months.

Liquidity

In June 2011, we entered into a five-year, $175 million Revolving Credit Facility agreement with seven banks (the “Credit Facility”). The Credit Facility amended and restated, in its entirety, the Credit Facility previously entered into by Monro as of July 2005 and amended from time to time. The Credit Facility also provided an accordion feature permitting us to request an increase in availability of up to an additional $75 million.

In December 2012, the Credit Facility was amended to include the following: the committed sum was increased by $75 million to $250 million; the term was extended for another one and a half years, such that the Facility now expires in December 2017; and the $75 million accordion feature was maintained. There were no other changes in terms including those related to covenants or interest rates. There are now six banks participating in the syndication. There was $103 million outstanding under the Credit Facility at June 29, 2013.

Within the Credit Facility, we have a sub-facility of $40 million available for the purpose of issuing standby letters of credit. There was an outstanding letter of credit for $23 million at June 29, 2013.

The net availability under the Credit Facility at June 29, 2013 was $124 million.

Specific terms of the Credit Facility permit the payment of cash dividends not to exceed 50% of the prior year’s net income, and permit mortgages and specific lease financing arrangements with other parties with certain limitations. Additionally, the Credit Facility is not secured by our real property, although we have agreed not to encumber our real property, with certain permissible exceptions. The agreement also requires the maintenance of specified interest and rent coverage ratios. We were in compliance with all debt covenants at June 29, 2013.

We have financed certain store properties and equipment with capital leases/financing obligations, which amounted to $62 million at June 29, 2013 and are due in installments through 2042.

Recent Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board issued new accounting guidance for the reporting of amounts reclassified out of accumulated other comprehensive income. This guidance requires companies to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income when applicable, or to cross-reference the reclassifications with other disclosures that provide additional detail about the reclassification made when the reclassifications are not made to net income. This guidance is effective for fiscal years and interim periods beginning after December 15, 2012. The adoption of this guidance in the first quarter of fiscal 2014 did not have an impact on Monro’s 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 Monro’s Consolidated Financial Statements.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

We are exposed to market risk from potential changes in interest rates. At June 29, 2013 and March 30, 2013, approximately .6% and .5%, respectively, of our debt financing, excluding capital leases and financing obligations, was at fixed interest rates and therefore, the fair value is affected by changes in market interest rates. Our cash flow exposure on floating rate debt would result in annual interest expense fluctuations of approximately $1.0 million based upon our debt position at June 29, 2013 and $1.3 million for the fiscal year ended March 30, 2013, given a 1% change in LIBOR.

12

Long-term debt had a carrying amount and a fair value of $104.0 million as of June 29, 2013, as compared to a carrying amount and a fair value of $127.8 million as of March 30, 2013.

Item 4. Controls and Procedures

Disclosure controls and procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in reports that we file or submit to the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

In conjunction with the close of each fiscal quarter and under the supervision of our Chief Executive Officer and Chief Financial Officer, we conduct an update, a review and an evaluation of the effectiveness of our disclosure controls and procedures. It is the conclusion of our Chief Executive Officer and Chief Financial Officer, based upon an evaluation completed as of the end of the most recent fiscal quarter reported on herein, that our disclosure controls and procedures were effective.

Changes in internal controls over financial reporting

There were no changes in our internal control over financial reporting during the quarter ended June 29, 2013 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

13

MONRO MUFFLER BRAKE, INC.

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

We are not a party or subject to any legal proceedings other than certain claims and lawsuits that arise in the normal course of our business. We do not believe that such claims or lawsuits, individually or in the aggregate, will have a material adverse effect on our financial condition or results of operations.

Item 6. Exhibits

Exhibits

31.1 – Certification of John W. Van Heel pursuant to Section 302 of the Sarbanes – Oxley Act of 2002
31.2 – Certification of Catherine D’Amico pursuant to Section 302 of the Sarbanes – Oxley Act of 2002
32.1 – Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes – Oxley Act of 2002

101.CAL**—XBRL Taxonomy Extension Calculation Linkbase

101.INS**—XBRL Instance Document

101.LAB**—XBRL Taxonomy Extension Label Linkbase

101.PRE**—XBRL Taxonomy Extension Presentation Linkbase

101.SCH**—XBRL Taxonomy Extension Schema Linkbase

101.DEF**—XBRL Taxonomy Extension Definition Linkbase

** Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement of prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or deemed filed for purpose of Section 18 of the Securities Exchange Act of 1934 and otherwise are not subject to liability under those sections.

14

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	MONRO MUFFLER BRAKE, INC.
DATE: July 30, 2013	By:	/s/ John W. Van Heel
		John W. Van Heel
		Chief Executive Officer and President
DATE: July 30, 2013
	By:	/s/ Catherine D’Amico
		Catherine D’Amico
		Executive Vice President-Finance, Treasurer
		and Chief Financial Officer (Principal Financial Officer)

15

EXHIBIT INDEX

Exhibit No.	Description	Page No.
31.1	Certification of John W. Van Heel pursuant to Section 302 of the Sarbanes-Oxley Act of 2002		17
31.2	Certification of Catherine D’Amico pursuant to Section 302 of the Sarbanes-Oxley Act of 2002		18
32.1	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002		19
101.CAL**	XBRL Taxonomy Extension Calculation Linkbase
101.INS**	XBRL Instance Document
101.LAB**	XBRL Taxonomy Extension Label Linkbase
101.PRE**	XBRL Taxonomy Extension Presentation Linkbase
101.SCH**	XBRL Taxonomy Extension Schema Linkbase
101.DEF**	XBRL Taxonomy Extension Definition Linkbase

** Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed not filed or part of a registration statement of prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933 or deemed filed for purpose of Section 18 of the Securities Exchange Act of 1934 and otherwise are not subject to liability under those sections.

16

EX-31.1

Exhibit 31.1

CERTIFICATION

I, John W. Van Heel, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Monro Muffler Brake, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 30, 2013

/s/ John W. Van Heel

John W. Van Heel

Chief Executive Officer and President

17

EX-31.2

Exhibit 31.2

CERTIFICATION

I, Catherine D’Amico, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Monro Muffler Brake, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15(d)-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: July 30, 2013

/s/ Catherine D’Amico

Catherine D’Amico

Executive Vice President – Finance and Chief Financial Officer

18

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

(SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002)

Pursuant to, and solely for purposes of, 18 U.S.C. Section 1350 (Section 906 of the Sarbanes-Oxley Act of 2002), each of the undersigned hereby certifies in the capacity and on the date indicated below that:

1. The Quarterly Report of Monro Muffler Brake, Inc. (“Monro”) on Form 10-Q for the period ended June 29, 2013 as filed with the Securities and Exchange Commission on the date hereof (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Monro.

/s/ John W. Van Heel	Dated: July 30, 2013
John W. Van Heel
Chief Executive Officer and President
/s/ Catherine D’Amico	Dated: July 30, 2013
Catherine D’Amico
Executive Vice President – Finance and Chief Financial Officer

19

XML

Supplemental Disclosure of Cash Flow Information (Tables)

3 Months Ended

Jun. 29, 2013

Supplemental Cash Flow Information Abstract

Schedule Of Purchase Price Allocation [Table Text Block]

Fair value of assets acquired	$	26,662,000
Goodwill acquired		42,252,000
Cash paid, net of cash acquired		(51,002,000)
Liabilities assumed	$	17,912,000

XML

Consolidated Statements of Comprehensive Income (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Jun. 29, 2013	Jun. 30, 2012
Statement of Comprehensive Income
Sales	$ 206,172	$ 169,175
Cost of sales, including distribution and occupancy costs	127,294	101,063
Gross profit	78,878	68,112
Operating, selling, general and administrative expenses	55,770	48,423
Operating income	23,108	19,689
Interest expense, net of interest income	1,809	1,299
Other income, net	(52)	(53)
Income before provision for income taxes	21,351	18,443
Provision for income taxes	7,779	6,806
Net income	13,572	11,637
Other Comprehensive Income (Loss), Net of Tax	0	0
Comprehensive income	$ 13,572	$ 11,637
Earnings per share
Basic	$ 0.43	$ 0.37
Diluted	$ 0.42	$ 0.36

XML

Earnings Per Share

3 Months Ended

Jun. 29, 2013

Earnings Per Share Basic And Diluted [Abstract]

Earnings Per Share Text Block

Note 3 – Earnings Per Share

       Basic earnings per common share (EPS) amounts are computed by dividing income available to common shareholders, after deducting preferred stock dividends, by the average number of common shares outstanding. Diluted EPS amounts assume the issuance of common stock for all potentially dilutive equivalent securities outstanding.

The following is a reconciliation of basic and diluted EPS for the respective periods:

		Quarter Ended
		Fiscal June
			2013		2012
		(Dollars in thousands,
		except per share data)
Numerator for earnings per common share calculation:
Net Income		$	13,572	$	11,637
Preferred stock dividends			(84)		(76)
Income available to common stockholders		$	13,488	$	11,561
Denominator for earnings per common share calculation:
Weighted average common shares, basic			31,302		30,922
Effect of dilutive securities:
	Preferred stock		760		760
	Stock options		424		482
Weighted average number of common shares, diluted			32,486		32,164
Basic Earnings per common share:		$	.43	$	.37
Diluted Earnings per common share:		$	.42	$	.36

The computation of diluted EPS excludes the effect of the assumed exercise of approximately 176,000 and 566,000 stock options for thethreemonths ended fiscal June 29, 2013 and June 30, 2012, respectively. Such amounts were excluded as the exercise prices of these stock options were greater than the average market value of ourCommon Stock for those periods, resulting in an anti-dilutive effect on diluted EPS.

XML

Cash Dividends (Details) (USD $)	3 Months Ended
	Mar. 29, 2014	Dec. 28, 2013	Sep. 28, 2013	Jun. 29, 2013
Cash dividends
Common stock cash dividends per share declared	$ 0.11	$ 0.11	$ 0.11	$ 0.11

XML

Condensed Consolidated Financial Statements (Details)	3 Months Ended
	Jun. 29, 2013
Organization Consolidation And Presentation Of Financial Statements Disclosure [Abstract]
Company reported results maximum	53 weeks
Company reported results minimum	52 weeks
Company reported results current year fiscal quarter	13 weeks
Company reported results prior year fiscal quarter	13 weeks
Company reported results current fiscal year	52 weeks

XML

Consolidated Statement of Changes in Shareholders' Equity (Parentheticals) (USD $)	3 Months Ended
	Jun. 29, 2013
Cash dividends
Preferred stock cash dividends per common stock equivalent	$ 0.11
Common stock cash dividends per share	$ 0.11

XML

Condensed Consolidated Financial Statements

3 Months Ended

Jun. 29, 2013

Organization Consolidation And Presentation Of Financial Statements Disclosure [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Note 1 – Condensed Consolidated Financial Statements

The consolidated balance sheets as of June 29, 2013 and March 30, 2013, the consolidated statements of comprehensive income and cash flows for the quarters ended June 29, 2013 and June 30, 2012and the consolidated statement of changes in shareholders' equity for thequarter ended June 29, 2013, include financial information for Monro Muffler Brake, Inc. and its wholly-owned subsidiary, Monro Service Corporation (collectively, “Monro”, “we”, “us”, “our”). These unaudited, condensed consolidated financial statements have been prepared by Monro. We believe all known adjustments (consisting of normal recurring accruals or adjustments) have been made to fairly state the financial position, results of operations and cash flows for the unaudited periods presented.

Interim results are not necessarily indicative of results for a full year. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. The information included in this Form 10-Q should be read in conjunction with the audited financial statements and notes thereto included in our annual report on Form 10-K for the year ended March 30, 2013.

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 these condensed financial statements:

       “Quarter Ended Fiscal June 2013”March 31, 2013 – June 29, 2013 (13 weeks)
“Quarter Ended Fiscal June 2012”April 1, 2012 – June 30, 2012 (13 weeks)

       Fiscal year 2014, ending March 29, 2014, is a 52 week year.

XML

Income Taxes

3 Months Ended

Jun. 29, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure Text Block

Note 4 – Income Taxes

       In the normal course of business, we provide for uncertain tax positions and the related interest and penalties, and adjustour unrecognized tax benefits and accrued interest and penalties accordingly. The total amounts of unrecognized tax benefits were $5.4 million and $5.7million, respectively, at June 29, 2013and March 30, 2013, the majority of which, if recognized, would affect the effective tax rate. As of June 29, 2013, we had approximately $.6 million of interest and penalties accrued related to unrecognized tax benefits.

We are currently under audit by certain state tax jurisdictions for the fiscal 2007 through 2010 tax years. It is possible that the examination phase of the audits for these years may conclude in the next 12 months, and that the related unrecognized tax benefits for tax positions taken regarding previously filed tax returns may change from those recorded as liabilities for uncertain tax positions in our financial statements as of June 29, 2013. However, based on the status of the examinations, it is not possible to estimate the effect of any amount of such change to previously recorded uncertain tax positions.

We file U.S. federal income tax returns and income tax returns in various state jurisdictions. Our fiscal 2011 and fiscal 2012U.S. federal tax year and various state tax years remain subject to income tax examinations by tax authorities.

XML

Acquisitions

3 Months Ended

Jun. 29, 2013

Business Combinations [Abstract]

Mergers Acquisitions And Dispositions Disclosures [Text Block]

Note 2 – Acquisitions

Acquisitions are strategic moves in our plan to fill in and expand our presence in existing and contiguous markets, and leverage fixed operating costs such as distribution and advertising.

Subsequent Event

We signed a definitive asset purchase agreement to complete the acquisition of 10 retail automotive repair stores located in the Washington, D.C. metropolitan area from Curry's Automotive Group on July 19, 2013. These stores produced approximately $18 million in net sales for their previous full fiscal year based on unaudited pre-acquisition historical information. This transaction is expected to close during the second quarter of fiscal 2014. These retail automotive repair stores will operate under the Curry's/Mr. Tire name. The acquisition will be financed through our existing credit facility.

Fiscal 2013

On April 1, 2012, we acquired 20 retail tire and automotive repair stores located in Virginia from Kramer Tire Co. (“Kramer”). We finalized the purchase accounting for this acquisition in the fourth quarter of fiscal 2013.

On June 3, 2012, we acquired 18 retail tire and automotive repair stores located in North Carolina from Colony Tire Corporation (“Colony”). We finalized the purchase accounting relative to the Colony acquisition during the first quarter of fiscal 2014. The resulting adjustments were not material to the Consolidated Financial Statements.

       The aggregated acquisitions are not material to the Consolidated Financial Statements. Additionally, the pro forma information for the current or prior reporting periods has not been presented due to the impracticability of obtaining detailed, accurate or reliable data for the periods the acquired entities were not owned by Monro.

XML

Consolidated Balance Sheets (Parentheticals) (Unaudited) (USD $)	Jun. 29, 2013	Mar. 30, 2013
Common stock par value	$ 0.01	$ 0.01
Common stock authorized	65,000,000	65,000,000
Common shares issued	37,454,060	37,327,967
Treasury stock	6,073,836	6,073,836
Preferred Class C [Member]
Preferred stock par value	$ 1.50	$ 1.50
Preferred stock conversion value	$ 0.064	$ 0.064
Preferred stock shares authorized	150,000	150,000
Preferred stock shares issued	32,500	32,500
Preferred stock shares outstanding	32,500	32,500

XML

Cash Dividend

3 Months Ended

Jun. 29, 2013

Cash dividends

Cash Dividends [Text Block]

Note 7 – Cash Dividend

       In May 2013, our Board of Directors declared its intention to pay a regular quarterly cash dividend during fiscal 2014 of $.11 per common share or common share equivalent to be paid beginning with the first quarter of fiscal 2014. However, the declaration of and any determination as to the payment of future dividends will be at the discretion of the Board of Directors and will depend on our financial condition, results of operations, capital requirements, compliance with charter and credit facility restrictions, and such other factors as the Board of Directors deems relevant.

XML

Consolidated Statement of Changes in Shareholders' Equity (Unaudited) (USD $) In Thousands	Total	Preferred Stock	Common Stock [Member]	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings
Balance beginning at Mar. 30, 2013	$ 365,042	$ 49	$ 373	$ (90,064)	$ 131,460	$ (4,043)	$ 327,267
Net income	13,572						13,572
Preferred stock cash dividends	(84)						(84)
Common stock cash dividends	(3,447)						(3,447)
Tax benefit from exercise of stock options					946
Exercise of stock options	2,408		2		2,406
Stock-based compensation	793				793
Balance ending at Jun. 29, 2013	$ 379,230	$ 49	$ 375	$ (90,064)	$ 135,605	$ (4,043)	$ 337,308

XML

Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 29, 2013	Mar. 30, 2013
Current assets
Cash and equivalents	$ 1,441	$ 1,463
Trade receivables	2,961	2,835
Federal and state income taxes receivable		2,336
Inventories	115,046	118,210
Deferred income tax asset	13,881	13,154
Other current assets	26,414	28,412
Total current assets	159,743	166,410
Property, plant and equipment	505,331	499,892
Less - Accumulated depreciation and amortization	(234,348)	(229,034)
Net property, plant and equipment	270,983	270,858
Goodwill	237,241	235,289
Intangible assets	26,326	28,517
Other non-current assets	9,320	10,458
Total assets	703,613	711,532
Current liabilities
Current portion of long-term debt, capital leases and financing obligations	4,847	4,914
Trade payables	60,739	61,006
Federal and state income taxes payable	4,000
Accrued payroll, payroll taxes and other payroll benefits	16,252	18,302
Accrued insurance	31,347	29,498
Warranty reserves	9,095	9,248
Other current liabilities	12,739	13,431
Total current liabilities	139,019	136,399
Long-term capital leases and financing obligations	57,163	58,899
Long-term debt	103,972	127,847
Accrued rent expense	5,869	6,057
Other long-term liabilities	11,989	11,762
Deferred income tax liability	3,416	2,096
Long-term income taxes payable	2,955	3,430
Total liabilities	324,383	346,490
Commitments
Shareholders' equity
Class C Convertible Preferred Stock, $1.50 par value, $.064 conversion value, 150,000 shares authorized; 32,500 shares issued and outstanding	49	49
Common Stock, $.01 par value, 65,000,000 shares authorized; 37,454,060 and 37,327, 967 shares issued at June 29, 2013 and March 30, 2013, respectively	375	373
Treasury Stock, 6,073,836 at cost	(90,064)	(90,064)
Additional paid-in capital	135,605	131,460
Accumulated other comprehensive loss	(4,043)	(4,043)
Retained earnings	337,308	327,267
Total shareholders' equity	379,230	365,042
Total liabilities and shareholders' equity	$ 703,613	$ 711,532

XML

Supplemental Disclosure of Cash Flow Information (Details) (USD $)	3 Months Ended
	Jun. 29, 2013	Jun. 30, 2012
Supplemental Cash Flow [Line Items]
Cash paid, net of cash acquired	$ 0	$ (50,919,000)
Fiscal Year 2013 Acquisitions
Supplemental Cash Flow [Line Items]
Fair value of assets acquired		26,662,000
Goodwill acquired		42,252,000
Cash paid, net of cash acquired		(51,002,000)
Liabilities assumed		$ 17,912,000

XML

Supplemental Disclosure of Cash Flow Information

3 Months Ended

Jun. 29, 2013

Supplemental Cash Flow Information Abstract

Cash Flow Supplemental Disclosures Text Block

Note 6 – Supplemental Disclosure of Cash Flow Information

The following represents non-cash investing and financing activities during the three months ended June 30, 2012.

In connection with the fiscal 2013 acquisitions, liabilities were assumed as follows:

Fair value of assets acquired	$	26,662,000
Goodwill acquired		42,252,000
Cash paid, net of cash acquired		(51,002,000)
Liabilities assumed	$	17,912,000

XML

Earnings Per Share (Tables)

3 Months Ended

Jun. 29, 2013

Earnings Per Share Basic And Diluted [Abstract]

Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share Table [Text Block]

		Quarter Ended
		Fiscal June
			2013		2012
		(Dollars in thousands,
		except per share data)
Numerator for earnings per common share calculation:
Net Income		$	13,572	$	11,637
Preferred stock dividends			(84)		(76)
Income available to common stockholders		$	13,488	$	11,561
Denominator for earnings per common share calculation:
Weighted average common shares, basic			31,302		30,922
Effect of dilutive securities:
	Preferred stock		760		760
	Stock options		424		482
Weighted average number of common shares, diluted			32,486		32,164
Basic Earnings per common share:		$	.43	$	.37
Diluted Earnings per common share:		$	.42	$	.36

XML

Fair Value

3 Months Ended

Jun. 29, 2013

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

Note 5 – Fair Value

Long-term debt had a carrying amount and a fair value of $104.0 million as of June 29, 2013, as compared to a carrying amount and a fair value of $127.8 million as of March 30, 2013. The fair value of long-term debt was estimated based on discounted cash flow analyses using either quoted market prices for the same or similar issues, or the current interest rates offered to Monro for debt with similar maturities.

XML

Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Jun. 29, 2013	Jun. 30, 2012
Cash flows from operating activities
Net income	$ 13,572	$ 11,637
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation and amortization	7,587	6,243
(Gain) loss on disposal of assets	(344)	59
Stock-based compensation expense	793	609
Excess tax benefits from share-based payment arrangements	(93)	(226)
Net change in deferred income taxes	472	(74)
Change in operating assets and liabilities:
Trade receivables	(126)	(177)
Inventories	3,164	(4,256)
Other current assets	1,998	(2,386)
Other non-current assets	1,409	2,115
Trade payables	(267)	4,233
Accrued expenses	(866)	(5,137)
Federal and state income taxes payable	7,282	6,403
Other long-term liabilities	(573)	(400)
Long-term income taxes payable	(475)	136
Total adjustments	19,961	7,142
Net cash provided by operating activities	33,533	18,779
Cash flows from investing activiites:
Capital expenditures	(7,445)	(6,985)
Cash paid, net of cash acquired	0	(50,919)
Proceeds from the disposal of assets	37	2,943
Net cash used for investing activities	(7,408)	(54,961)
Cash flows from financing activities:
Proceeds from borrowings	61,772	97,777
Principal payments on long-term debt, capital leases and financing obligations	(86,889)	(61,853)
Exercise of stock options	2,408	1,022
Excess tax benefits from share-based payment arrangements	93	226
Dividends to shareholders	(3,531)	(3,171)
Net cash (used for) provided by financing activities	(26,147)	34,001
Decrease in cash	(22)	(2,181)
Cash at beginning of period	1,463	3,257
Cash at end of period	$ 1,441	$ 1,076

XML

Acquisitions (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Jun. 30, 2012 Kramer Acquisition numberofstores	Jun. 30, 2012 Colony Acquisition numberofstores	Jun. 29, 2013 Curry Acquisition numberofstores
Business Acquisition [Line Items]
Annual sales based on unaudited pre-acquisition historical information			$ 18
Number of stores acquired	20	18	10

XML

Subsequent Events

3 Months Ended

Jun. 29, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Note 8 – Subsequent Events

       See Note 2 for a discussion of an acquisition subsequent to June 29, 2013.

XML

Fair Value (Details) (USD $) In Millions, unless otherwise specified	Jun. 29, 2013	Mar. 30, 2013
Fair Value Disclosures [Abstract]
Carrying amount of long-term debt ( including current portion)	$ 104.0	$ 127.8
Fair value of long-term debt (including current portion)	$ 104.0	$ 127.8

XML

Earnings Per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Jun. 29, 2013	Jun. 30, 2012
Numerator For Earnings Per Share Calculation [Abstract]
Net income	$ 13,572	$ 11,637
Preferred stock dividends	(84)	(76)
Income available to common shareholders	$ 13,488	$ 11,561
Denominator for earnings per common share calculation:
Weighted average common shares, basic	31,302,000	30,922,000
Effect of dilutive securities:
Preferred stock	760,000	760,000
Stock options	424,000	482,000
Weighted average number of common shares, diluted	32,486,000	32,164,000
Basic Earnings per common share:	$ 0.43	$ 0.37
Diluted Earnings per common share:	$ 0.42	$ 0.36
Antidilutive securities excluded from computation of earnings per share	176,000	566,000

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Document and Entity Information (USD $)	3 Months Ended
	Jun. 29, 2013	Jul. 19, 2013	Sep. 29, 2012
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 29, 2013
Amendment Flag	false
Entity Registrant Name	MONRO MUFFLER BRAKE INC
Entity Central Index Key	0000876427
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--03-29
Entity Filer Category	Large Accelerated Filer
Entity Well Known Seasoned Issuer	Yes
Entity Common Stock Shares Outstanding		31,386,042
Entity Public Float			$ 1,021,500,000
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1

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Income Taxes (Details) (USD $) In Millions, unless otherwise specified	Jun. 29, 2013	Mar. 30, 2013
Income Tax Uncertainties
Unrecognized tax benefits	$ 5.4	$ 5.7
Interest and penalties accrued related to unrecognized tax benefits	$ 0.6