Cracker Barrel (CBRL) Beats On Q4 Earnings, Misses Revenues
Zacks Investment Research | Sep 13, 2017 10:43PM ET
Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) posted mixed fourth-quarter fiscal 2017 results wherein the bottom line beat the Zacks Consensus Estimate while the top line lagged the same. Consequently, shares were up over 1% in yesterday’s trading session.
Earnings & Revenues
Cracker Barrel’s earnings of $2.23 per share for the fiscal fourth quarter surpassed the Zacks Consensus Estimate of $2.18 by 2.3%. The bottom line also increased 5.3% from the year-ago figure of $2.12 on somewhat lower expenses, given the company’s various cost cutting efforts.
The company reported revenues of $743.2 million in the quarter, missing the Zacks Consensus Estimate of $750 million by nearly 1%. Meanwhile, the top line witnessed a decline of 0.3% on a year-over-year basis.
Behind the Headline Numbers
Comparable store restaurant sales decreased 0.8% year over year compared with 0.4% decline recorded in the fiscal third quarter. A 0.9% increase in average check was more than offset by a 1.7% decrease in traffic, leading to the comps decline. Notably, the average menu price rise for the quarter was close to 1.4%.
Also, comparable store retail sales fell 4.4% in the fiscal fourth quarter, slightly better than the 4.7% decline recorded in the last quarter.
Operating Highlights
Operating margin in the reported quarter was 11.2%, up 80 basis points (bps), from 10.4% a year ago.
Cracker Barrel Old Country Store, Inc. Price, Consensus and EPS Surprise
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