Monro(MNRO)2025-05-28 11:33Financial Performance - Fourth quarter sales decreased 4.9% to $295.0 million compared to $310.1 million in the same quarter of fiscal 2024[2] - Total sales for the twelve months ended March 2025 were $1,195,334, a decrease of 6.4% compared to $1,276,789 in 2024[32] - Gross profit decreased by 7.6% to $417,645 from $452,103 year-over-year[32] - Operating income fell significantly by 82.4% to $12,565, down from $71,425 in the previous year[32] - Net loss for fiscal 2025 was $5.2 million, or $0.22 per diluted share, compared to net income of $37.6 million, or $1.18 per diluted share in the prior year[14] - Net loss for the twelve months was $5,182, a decline of 113.8% compared to net income of $37,571 in 2024[32] - Diluted loss per share was $(0.22), a decrease of 118.5% from earnings of $1.18 per share in 2024[32] - Adjusted net income for the twelve months was $15,624, down from $42,398 in the previous year[42] Sales and Store Performance - Comparable store sales increased 2.8% in the fourth quarter, with notable increases of 27% for front end/shocks and 25% for batteries[3] - Preliminary quarter-to-date comparable store sales for the first quarter of fiscal 2026 are up approximately 7%[12] - The company identified 145 underperforming stores for closure during the first quarter of fiscal 2026[19] Expenses and Costs - Total operating expenses for fiscal 2025 were $405.1 million, or 33.9% of sales, compared to $380.7 million, or 29.8% of sales in fiscal 2024[14] - Store impairment charges for the twelve months were $24,355, compared to $1,915 in 2024[42] - Management restructuring costs for the twelve months were $1,778, up from $1,210 in the previous year[42] - Costs incurred related to restructuring and elimination of certain management positions[43] Cash Flow and Assets - The company generated cash from operating activities of $132 million during fiscal 2025[5] - Total assets as of March 2025 were $1,641,823, a slight decrease from $1,692,814 in 2024[34] - Current liabilities increased to $524,290 from $455,156 in the previous year[34] Dividends and Guidance - The company approved a cash dividend of $0.28 per share for the first quarter of fiscal 2026[18] - The company is not providing fiscal 2026 financial guidance at this time but will share expectations during its earnings conference call[20] Tax Rates - Adjusted effective tax rates were 24.7% for the quarter ended March 2025 and 27.1% for the quarter ended March 2024[43] - For the twelve months ended March 2025, the adjusted effective tax rate was 25.0%, compared to 26.5% for the twelve months ended March 2024[43] Other Financial Adjustments - Gain on sale of the corporate headquarters building, net of associated closing and relocation costs[43] - Loss on subsequent inventory adjustments from prior year sale of wholesale tire and distribution assets[43]