Cracker Barrel Old Country Store Inc. (CBRL) shares rose 1.1% in Tuesday premarket trading after the restaurant chain reported fiscal second-quarter earnings and revenue that beat expectations. Net income totaled $61.2 million, or $2.55 per share, up from $60.8 million, or $2.52 per share, last year. Revenue totaled $846.1 million, up from $811.7 million the previous year. The FactSet consensus was for EPS of $2.49 and revenue of $837.0 million. Same-restaurant sales grew 3.8% while same-store sales were up 1.3%. The FactSet outlook was for same-restaurant sales growth of 2.2% and same-store sales growth of 0.6%. Traffic fell 0.2%. Holiday dining, both eat-in and off-premise, was a strength during the quarter, with Chief Executive Sandra Cochran highlighting the country fried turkey menu promotion in a statement. For fiscal 2020, Cracker Barrel expects EPS between $8.55 and $8.65. FactSet is guiding for EPS of $9.06. Cracker Barrel stock is up 5.4% over the last three months, but down 2.1% for the last year. The S&P 500 index has gained 15.4% over the past 12 months.
-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 25, 2020 08:22 ET (13:22 GMT)
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