Cracker Barrel Old Country Store Earnings: Here’s Why Shares are Down Now
Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.8%.
Cracker Barrel Old Country Store, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 2.72% to $1.43 in the quarter versus EPS of $1.47 in the year-earlier quarter.
Revenue: Decreased 3.7% to $674.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cracker Barrel Old Country Store, Inc. reported adjusted EPS income of $1.43 per share. By that measure, the company beat the mean analyst estimate of $1.35. It beat the average revenue estimate of $668.68 million.
Quoting Management: Cracker Barrel President and Chief Executive Officer Sandra B. Cochran said, “The fourth quarter of fiscal 2013 represents the seventh consecutive quarter of year-over-year improvement in comparable store traffic, restaurant sales, and retail sales. The financial results of the fourth quarter and full year reflect the effective execution of our strategic plan. As we begin our 2014 fiscal year, we are poised to capitalize on the achievements of fiscal 2013. I am proud of our team’s hard work and dedication, especially those in the field who are committed to serving our Cracker Barrel guests every day.”
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