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Cracker Barrel Stock Rolls Higher as Restaurant Sales Improve
Key Takeaways
Cracker Barrel Old Country Store ( CBRL ) shares rose after the company’s preliminary first-quarter revenue and adjusted earnings beat analysts’ expectations Thursday.
The iconic restaurant chain said it expects revenue of $845.1 million, up 2.6% year-over-year and above the analyst consensus from Visible Alpha. Adjusted earnings per share were 45 cents, compared to 40 cents a year ago and beating analyst estimates.
Same-store restaurant sales improved 2.9%, while same-store retail sales declined 1.6%.
Shares of Cracker Barrel improved more than 8% intraday Thursday but are down as much as 33% in 2024.