UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
(Mark One)
☒ | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended March 31, 2017
OR
☐ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission File Number 0-19357
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
(Full title of the plan)
MONRO, INC.
200 HOLLEDER PARKWAY
ROCHESTER, NY 14615
(Name of issuer of the securities held pursuant to the
plan and address of its principal executive office)
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
INDEX TO FINANCIAL STATEMENTS AND SCHEDULE
Page No. | ||||
3 | ||||
Financial Statements |
||||
Statements of Net Assets Available for Benefits as of March 31, 2017 and 2016 |
4 | |||
Statement of Changes in Net Assets Available for Benefits for the year ended March 31, 2017 |
5 | |||
6 | ||||
Supplemental Schedule |
||||
Schedule H, Line 4i - Schedule of Assets (Held at End of Year) March 31, 2017 |
13 | |||
All other schedules required by Section 2520.103-10 of the Department of Labor Rules and Regulations for Reporting and Disclosure under ERISA have been omitted because they are not applicable. |
||||
14 | ||||
15 | ||||
Exhibit 23.1 Consent of Independent Registered Public Accounting Firm |
16 |
2
Report of Independent Registered Public Accounting Firm
To the Participants and Administrator of
Monro Muffler Brake, Inc. Profit Sharing Plan
We have audited the accompanying statements of net assets available for benefits of Monro Muffler Brake, Inc. Profit Sharing Plan as of March 31, 2017 and 2016, and the related statement of changes in net assets available for benefits for the year ended March 31, 2017. These financial statements are the responsibility of the Plans management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of Monro Muffler Brake, Inc. Profit Sharing Plan as of March 31, 2017 and 2016, and the changes in net assets available for benefits for the year ended March 31, 2017, in conformity with accounting principles generally accepted in the United States of America.
The supplemental information in the accompanying schedule, Schedule H, Line 4i Schedule of Assets (Held at End of Year) as of March 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plans financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but includes supplemental information required by the Department of Labors Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plans management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labors Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated in all material respects in relation to the financial statements as a whole.
/s/ Freed Maxick, CPAs, PC |
Buffalo, New York |
September 27, 2017 |
3
PROFIT SHARING PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
March 31, | ||||||||
2017 | 2016 | |||||||
Assets |
||||||||
Investments at fair value: |
||||||||
Cash and cash equivalents |
$ | | $ | 136 | ||||
Common collective trusts |
6,713,435 | 5,847,161 | ||||||
Shares of registered investment companies |
38,118,533 | 33,501,171 | ||||||
Employer securities |
2,194,605 | 3,150,063 | ||||||
|
|
|
|
|||||
Total investments at fair value |
47,026,573 | 42,498,531 | ||||||
|
|
|
|
|||||
Receivables: |
||||||||
Employers contributions |
839,705 | 713,702 | ||||||
Participants contributions |
113,855 | | ||||||
Notes receivable from participants |
1,357,456 | 1,347,177 | ||||||
|
|
|
|
|||||
Total receivables |
2,311,016 | 2,060,879 | ||||||
|
|
|
|
|||||
Total assets |
49,337,589 | 44,559,410 | ||||||
Liabilities |
||||||||
Accrued expenses |
412,719 | 388,639 | ||||||
|
|
|
|
|||||
Net assets available for benefits |
$ | 48,924,870 | $ | 44,170,771 | ||||
|
|
|
|
The accompanying notes are an integral part of the financial statements.
4
PROFIT SHARING PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year
ended March 31, 2017 |
||||
Additions to net assets attributed to: |
||||
Contributions: |
||||
Employer |
$ | 836,390 | ||
Participant |
3,052,149 | |||
Rollover |
1,158,334 | |||
|
|
|||
Total contributions |
5,046,873 | |||
|
|
|||
Investment income: |
||||
Net appreciation in fair value of investments |
3,856,792 | |||
Dividend income |
410,422 | |||
Interest and other income |
65,304 | |||
|
|
|||
Total investment income |
4,332,518 | |||
|
|
|||
Total additions |
9,379,391 | |||
|
|
|||
Deductions from net assets attributed to: |
||||
Benefits paid to participants |
4,502,603 | |||
Administrative expenses |
122,689 | |||
|
|
|||
Total deductions |
4,625,292 | |||
|
|
|||
Increase in net assets available for benefits |
4,754,099 | |||
Net assets available for benefits: |
||||
Beginning of year |
$ | 44,170,771 | ||
|
|
|||
End of year |
$ | 48,924,870 | ||
|
|
The accompanying notes are an integral part of the financial statements.
5
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 1 - DESCRIPTION OF THE PLAN:
The following brief description of the Monro Muffler Brake, Inc. Profit Sharing Plan (the Plan) is provided for general information purposes only. Participants should refer to the Plan documents for more complete information.
General
Monro, Inc. (formerly Monro Muffler Brake, Inc.) (the employer and Plan sponsor) (the Company or Monro) voluntarily contributes funds to provide for retirement, termination, disability and death benefits of plan participants.
On November 18, 1999, the Board of Directors approved amending the Plan to add a 401(k) salary deferral option. Prior to this amendment, participant fund balances consisted solely of employer-contributed Profit Sharing amounts adjusted for related gains/losses. In connection with this amendment, a new trustee (the Trustee) and custodian were appointed by the Board of Directors. Plan assets are invested in funds designated by each participant. Participant contributions under the 401(k) salary deferral option began in March 2000. The legal effective date of the Plan amendment was March 1, 2000.
The Plan has been restated in order to comply with various legislative amendments. The legal effective date of the most recent restatement is December 8, 2014. This restatement modified the eligibility age and contribution percentage limit, as well as various other provisions of the Plan. In connection with this restatement, a new trustee and custodian were appointed by the Board of Directors.
Participation
Permanent employees of Monro are eligible to become participants of the Plan upon hire. To participate, an employee must be 18 years of age. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
Contributions
Participants may contribute from 1% to 50% of their annual pre-tax compensation. Participants may also contribute amounts representing rollovers from other qualified plans. Contributions are subject to certain limitations as required under the Internal Revenue Code. Participants who have attained age 50 or older during the plan year are eligible to make catch-up contributions.
Participants contributions may be matched (401(k) Matching Contributions) by the Company in an amount determined by the Board of Directors of the Company. The Board has decided to match the amount of $.50 for every dollar contributed up to 4% of the participants pre-tax compensation for the years ended March 31, 2017 and 2016.
Participants must be scheduled to work 1,000 hours of service and be employed at the end of the Plan year in which they have made contributions in order to be eligible to receive the employer match.
Additionally, the Company may contribute to the Plan an additional amount, either in the form of a Profit Sharing Contribution, or in the form of an additional match on 401(k) participant contributions, based on the sole discretion of the Board of Directors. For the years ended March 31, 2017 and 2016, the Company did not make a Profit Sharing Contribution.
Profit Sharing Contributions are allocated by the custodian based on the proportionate share of wages earned by each participant in relation to the total qualified wages for all participants in the Plan.
6
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
Participants Accounts
Each participants account is credited with the participants contribution and (a) the Companys matching contribution, (b) an allocation of the Companys profit sharing contribution, (c) Plan earnings and (d) charged with an allocation of administrative expenses. Plan earnings and administrative expense allocations are based on account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participants vested account.
Vesting
Participants are immediately vested in their own salary reduction contributions plus actual earnings thereon. Vesting in the Company 401(k) Matching Contribution portion of their accounts, plus actual earnings thereon, is based on years of service as defined in the Plan. A participant vests 25% at the end of his/her second year of service, and an additional 25% each year thereafter.
Participants become 100% vested in the Companys Profit Sharing Contributions at the end of five years of service with 25%, 50% and 75% vesting in years two, three and four, respectively.
Forfeited balances of terminated participants nonvested accounts are used to reduce future Company contributions and to pay administrative expenses of the Plan. Forfeited accounts used to reduce company contributions and to pay administrative expenses amounted to approximately $31,000 and $117,000 for the years ended March 31, 2017 and 2016, respectively. At March 31, 2017 and 2016, remaining forfeitures available to offset future contributions were approximately $105,000 and $97,000, respectively.
Notes Receivable from Participants
Participants may borrow from their 401(k) account in various amounts as specified by the Plan. Notes receivable must be a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balances. The terms for notes receivable range from one to five years, or up to ten years for the purchase of a primary residence. The notes receivable are secured by the balance in the participants account and bear interest at a rate commensurate with local prevailing rates as determined by the Benefits Committee. Principal and interest are paid ratably through payroll deductions. Notes receivable of approximately $784,000 and $749,000 were granted during the years ended March 31, 2017 and 2016, respectively. Interest income is recorded on the accrual basis. Related fees are recorded as administrative expenses and are charged directly to the participants accounts when they are incurred. No allowance for credit losses has been recorded as of March 31, 2017 or 2016. Delinquent notes receivable are reclassified as distributions based upon the terms of the plan document.
Payment of Benefits
A participant may commence payment of benefits upon termination of employment, attainment of age 59 1/2, or becoming disabled. A participant may elect to receive benefits in the form of a lump-sum distribution or installment payments over time.
Administration
The Monro Benefits Committee is solely responsible for the general administration of the Plan and carrying out the Plan provisions. The Benefits Committee determines the appropriateness of the Plans investment offerings, monitors investment performance and reports to the Companys Board of Directors. The Company reserves the right, by action of the Board of Directors, to discontinue contributions and terminate the Plan at any time. In the event of a termination of the Plan, each participant shall immediately become fully vested. Since December 2014, the trustee, custodian and recordkeeper of the Plan is Wells Fargo Bank, N.A. (Wells Fargo).
7
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
Administrative Expenses
Plan expenses are primarily paid by the Plan. Expenses related to the administration of notes receivable from participants are charged directly to the participants account and are included in administrative expenses. Investment related expenses are included in net appreciation or depreciation in fair value of investments.
NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES:
Basis of Accounting
The financial statements of the Plan have been prepared using the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America.
Investment Valuation and Income Recognition
Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plans Benefit Committee determines the Plans valuation policies utilizing information provided by the investment advisors and trustees. See Note 5 for discussion of fair value measurements.
The Plan presents, in the Statement of Changes in Net Assets, the net appreciation or depreciation in the fair value of its investments, which consists of the realized gains or losses and the unrealized appreciation or depreciation of those investments.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets available for benefits and changes therein. Actual results could differ from those estimates.
Risks and Uncertainties
Investment securities are exposed to various risks, such as interest rate and market risks. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is at least reasonably possible that changes in risk in the near term would materially affect participants account balances and the amount reported in the Statement of Net Assets Available for Benefits and the Statement of Changes in Net Assets Available for Benefits.
Benefit Payments
Benefits are recorded when paid.
Recently Issued Accounting Pronouncements
Recent accounting pronouncements issued by the FASB (including technical corrections to the FASBs Accounting Standards Codification), and the American Institute of Certified Public Accountants did not, or are not, expected to have a material effect on the Plans financial statements.
8
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 3 - PARTY-IN-INTEREST TRANSACTIONS:
Plan investments are shares of registered investment companies and common collective trusts managed by Wells Fargo. Wells Fargo is also the third party administrator. Therefore, these transactions qualify as party-in-interest. Fees paid by the Plan for professional expenses amounted to $122,689 and $187,234 for the years ended March 31, 2017 and 2016, respectively. The Plan also invests in Monro Muffler Brake, Inc. Stock Fund. Monro is the plan sponsor, and therefore, these transactions qualify as party-in-interest. Investment (loss) income from investments sponsored by Monro amounted to ($780,415) and $291,832 for the years ended March 31, 2017 and 2016, respectively. Investment gain from investments sponsored by our third party administrators and notes receivable amounted to $792,523 and $165,120 for the years ended March 31, 2017 and 2016, respectively.
NOTE 4 - FEDERAL INCOME TAX STATUS:
The Plan uses a volume submitter plan document of Wells Fargo Bank, N.A. Defined Contribution Volume Submitter Plan and Trust. The volume submitter plan document has obtained an opinion letter from the Internal Revenue Service (IRS), which states that the volume submitter document satisfies the applicable provisions of the Internal Revenue Code. The Plan has not received a determination letter from the IRS; however the Plan administrator and the Plans counsel believe that the Plan is designed, and is currently being operated, in compliance with the applicable requirements of the Internal Revenue Code and, therefore, believe that the Plan is qualified and the related trust is tax-exempt.
Additionally, Generally Accepted Accounting Principles requires Plan management to evaluate the tax positions taken by the Plan and recognize a tax liability if the organization has taken an uncertain tax position that is more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of March 31, 2017 and 2016, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements.
9
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
NOTE 5 - FAIR VALUE OF FINANCIAL INSTRUMENTS:
The accounting standards related to fair value measurements include a hierarchy for information and valuations used in measuring fair value that is broken down into three levels based on reliability, as follows:
| Level 1 valuations are based on quoted prices in active markets for identical instruments that the Plan has the ability to access. |
| Level 2 valuations are based on quoted prices for similar, but not identical, instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; or other significant observable inputs besides quoted prices. |
| Level 3 valuations are based on information that is unobservable and significant to the overall fair value measurement. |
A financial instruments categorization within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs.
Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at March 31, 2017 and 2016.
Cash and Cash Equivalents: Cash and cash equivalents are valued at cost, which approximates fair value.
Employer Securities: These investments consist of common stock valued at the closing price reported on the active market on which the individual securities are traded.
Shares of Registered Investment Companies: Valued at the daily closing price as reported by the fund. Shares of registered investment options held by the Plan are open-end mutual funds that are registered with the U.S. Securities and Exchange Commission. These funds are required to publish daily net asset value (NAV) and to transact at that price. The shares of registered investment companies held by the Plan are deemed to be actively traded.
Common Collective Trust: Comprised of fully benefit-responsive investment contracts issued by insurance companies, banks and other financial institutions. The net asset value is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the fund will sell the investment for an amount different from the reported NAV. Participant transactions (purchases and sales) may occur daily.
10
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
The following tables set forth the Plans financial instruments measured at fair value as of March 31, 2017 and 2016.
Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Description |
Total as of March 31, 2017 |
Quoted Prices in Active Markets for Identical Assets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Unobservable Inputs (Level 3) |
||||||||||||
Financial Assets |
| |||||||||||||||
Cash and cash equivalents |
$ | | $ | | | | ||||||||||
Shares of registered investment companies |
38,118,533 | 38,118,533 | | | ||||||||||||
Employer securities |
2,194,605 | 2,194,605 | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets in the fair value hierarchy |
40,313,138 | $ | 40,313,138 | | | |||||||||||
|
|
|
|
|
|
|||||||||||
Common collective trusts (a) |
6,713,435 | |||||||||||||||
|
|
|||||||||||||||
Investments at fair value |
$ | 47,026,573 | ||||||||||||||
|
|
Fair Value Measurements at Reporting Date Using | ||||||||||||||||
Description |
Total as of March 31, 2016 |
Quoted Prices in Active Markets for Identical Assets (Level 1) |
Significant Other Observable Inputs (Level 2) |
Unobservable Inputs (Level 3) |
||||||||||||
Financial Assets |
||||||||||||||||
Cash and cash equivalents |
$ | 136 | $ | 136 | | | ||||||||||
Shares of registered investment companies |
33,501,171 | 33,501,171 | | | ||||||||||||
Employer securities |
3,150,063 | 3,150,063 | | | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total assets in the fair value hierarchy |
36,651,370 | $ | 36,651,370 | | | |||||||||||
|
|
|
|
|
|
|||||||||||
Common collective trusts (a) |
5,847,161 | |||||||||||||||
|
|
|||||||||||||||
Investments at fair value |
$ | 42,498,531 | ||||||||||||||
|
|
(a) | In accordance with Subtopic 820-10, certain investments that were measured at net asset value per share (or its equivalent) have not been classified in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the line items presented in the statement of net assets available for benefits. |
11
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
NOTES TO FINANCIAL STATEMENTS
The following table summarizes investments measured at fair value utilizing NAV as the practical expedient as of March 31, 2017 and 2016.
Investment |
March 31, 2017 Fair Value |
Unfunded Commitment |
Redemption Frequency |
Redemption Notice Period |
||||||||||||
Common Collective Trusts: |
||||||||||||||||
Wells Fargo Stable Value Fund |
$ | 2,001,017 | N/A | Daily | 12 months | |||||||||||
Wells Fargo/Blackrock Common Collective Trusts |
4,712,418 | N/A | Daily | N/A |
Investment |
March 31, 2016 Fair Value |
Unfunded Commitment |
Redemption Frequency |
Redemption Notice Period |
||||||||||||
Common Collective Trusts: |
||||||||||||||||
Wells Fargo Stable Value Fund |
$ | 1,727,087 | N/A | Daily | 12 months | |||||||||||
Wells Fargo/Blackrock Common Collective Trusts |
4,120,074 | N/A | Daily | N/A |
NOTE 6 - RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500:
March 31, | ||||||||
2017 | 2016 | |||||||
Net assets available for benefits per the financial statements |
$ | 48,924,870 | $ | 44,170,771 | ||||
Differences in: |
||||||||
Investments |
1,357,456 | 1,347,177 | ||||||
Notes receivable from participants |
(1,357,456 | ) | (1,347,177 | ) | ||||
|
|
|
|
|||||
Net assets available for benefits per the Form 5500 |
$ | 48,924,870 | $ | 44,170,771 | ||||
|
|
|
|
12
MONRO MUFFLER BRAKE, INC.
PROFIT SHARING PLAN
Form 5500, Schedule H, Line 4i Schedule of Assets (Held at End of Year)
EIN # 16-0838627, Plan #001
March 31, 2017
(a) |
(b) Identity of Issuer, Borrower, Lessor or Similar Party |
(c) Description of Investment |
(d) Current Value |
|||||
American Century Investments | Equity Growth Fund | $ | 2,246,468 | |||||
American Funds | 2030 Target Date Retirement Fund | 4,998,111 | ||||||
American Funds | 2025 Target Date Retirement Fund | 4,459,723 | ||||||
American Funds | 2020 Target Date Retirement Fund | 3,057,995 | ||||||
American Funds | 2035 Target Date Retirement Fund | 3,338,327 | ||||||
American Funds | Europacific Growth Fund | 2,215,504 | ||||||
American Funds | 2040 Target Date Retirement Fund | 1,829,323 | ||||||
American Funds | 2045 Target Date Retirement Fund | 1,792,491 | ||||||
American Funds | 2010 Target Date Retirement Fund | 240,567 | ||||||
American Funds | 2050 Target Date Retirement Fund | 782,796 | ||||||
American Funds | 2055 Target Date Retirement Fund | 283,646 | ||||||
American Funds | 2015 Target Date Retirement Fund | 1,043,331 | ||||||
Calamos Investments | Evolving World Growth Fund | 28,292 | ||||||
Clearbridge Investments | Aggressive Growth FI Fund | 2,407,699 | ||||||
J.P. Morgan Asset Management | Core Bond Fund | 3,238,403 | ||||||
J.P. Morgan Asset Management | U.S. Small Company Fund | 3,279,383 | ||||||
John Hancock | Disciplined Value Fund | 2,632,738 | ||||||
MFS Investment Management | Mid Cap Value Fund | 110,280 | ||||||
* | Monro, Inc. | Monro Stock Fund | 2,194,605 | |||||
* | Monro Muffler Brake, Inc. Profit Sharing Plan |
Notes Receivable from Participants (Interest rates of 4.25 - 6.00%) |
1,357,456 | |||||
PIMCO Funds | Foreign Bond Fund (USD-Hedged) | 88,304 | ||||||
PIMCO Funds | Total Return Fund | 45,152 | ||||||
* | Wells Fargo | Stable Value Fund | 2,001,017 | |||||
* | Wells Fargo/ Blackrock | S&P 500 Index CIT | 4,319,180 | |||||
* | Wells Fargo/ Blackrock | S&P Midcap Index CIT | 158,036 | |||||
* | Wells Fargo/ Blackrock | Russell 2000 Index CIT | 161,187 | |||||
* | Wells Fargo/ Blackrock | International Equity Index CIT | 74,015 | |||||
|
|
|||||||
$ | 48,384,029 | |||||||
|
|
* | Denotes a party-in-interest |
13
Pursuant to the requirements of the Securities Exchange Act of 1934, Monro, Inc., as Administrator, has duly caused this Annual Report to be signed on its behalf by the undersigned hereunto duly authorized.
Monro, Inc.
AS ADMINISTRATOR OF
Monro Muffler Brake, Inc.
Profit Sharing Plan
DATE: September 27, 2017 | By | /s/ Brian DAmbrosia | ||||
Brian DAmbrosia | ||||||
Senior Vice President, Chief Financial Officer, and Treasurer |
14
Exhibit | ||
23.1 | Consent of Freed Maxick, CPAs, PC, dated September 27, 2017. |
15
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in the Registration Statement (No. 333-63880) on Form S-8 of Monro, Inc. of our report dated September 27, 2017 relating to our audit of the financial statements and supplemental schedule of Monro Muffler Brake, Inc. Profit Sharing Plan, which appears in this Annual Report on the Form 11-K of the Monro Muffler Brake, Inc. Profit Sharing Plan for the year ended March 31, 2017.
/s/ Freed Maxick, CPAs, PC |
Buffalo, New York |
September 27, 2017 |
16