By LEBANON, Tenn. – Cracker Barrel (NASDAQ:CBRL) Old Country Store Inc. (NASDAQ:CBRL) reported fourth quarter earnings that fell short of analyst expectations, sending shares down 0.5% Thursday.
The restaurant chain posted adjusted earnings per share of $0.98, missing the consensus estimate of $1.14. Revenue came in at $894.4 million, slightly below analysts’ projections of $898.09 million.
Comparable store restaurant sales increased 0.4% YoY, while retail sales decreased 4.2%. The company noted that total revenue for the quarter included a $62.8 million benefit from an extra week compared to last year.
“Our teams are highly engaged and intently focused on executing our strategic transformation and our day-to-day business at a high level,” said CEO Julie Masino. “We are already making great progress and are encouraged by the initial results of key initiatives such as operational excellence and the guest experience, optimized pricing, and our remodel program.”
For fiscal 2025, Cracker Barrel expects revenue between $3.4 billion and $3.5 billion, in line with the $3.45 billion consensus. The company plans to open 2 new Cracker Barrel stores and 3-4 new Maple Street Biscuit Company units.
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