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Cracker Barrel Offers 2009 Profit, Sales Outlook

The Associated Press

LEBANON, Tenn. (AP) — Restaurant operator Cracker Barrel Old Country Store Inc. on Wednesday offered a fiscal 2009 profit outlook in line with Wall Street analysts' expectations.

Cracker Barrel said it expects its 2009 profit to be between $2.70 and $2.90 per share. Analysts polled by Thomson Reuters anticipate profit between $2.70 and $2.84 per share, or $2.76 per share on average.

The chain also said it expects total revenue to be flat to down 0.5 percent with same-store sales, or sales at locations open at least a year, dropping 1.5 percent to 2 percent at restaurants and falling 6 percent to 7 percent in retail stores.

In 2008, overall revenue was $2.38 billion and analysts expect the same for 2009.

Also on Wednesday, Cracker Barrel reported its fiscal third quarter profit rose 14 percent, helped by lower interest expenses and a dip in operating costs.