Published on 1 Jun 2016
Just
in time for the summer road-trip season, shares of Cracker Barrel
jumped Wednesday after the company reported earnings and announced a
special dividend of $3.25 a share, payable on July 29. Adjusted earnings
of $1.82 a share beat analyst estimates of $1.80 a share. The company
was helped in its fiscal third quarter by in increases in same store
restaurant and retail sales which were up 2.3 percent and 2.2 percent
respectively. The company also increased its full-year earnings
guidance, which has not been something commonly heard this earnings
season. Cracker Barrel now projects full-year earnings to be between
$7.75 and 7.85 a share. Same store sale increases are expected in the
range of 2 to 2.5 percent, coming in line with the most recent quarter's
result. Cracker Barrel CEO Sandra Cochran also hinted that diners will
be excited by the chain's summer menu offerings. Something to think
about when planning your next weekend road-trip!
http://www.4-traders.com/CRACKER-BARREL-OLD-COUNTR-8692/
http://www.4-traders.com/CRACKER-BARREL-OLD-COUNTR-8692/
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