This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Cracker Barrel Gains on Forecast

Stocks in this article: CBRL BOBE MCD BKC YUM PEJ

(Updated with additional information and stock prices.)

LEBANON, Tenn. ( TheStreet) -- Cracker Barrel Old Country Store (CBRL) shares pared early gains but still closed several points higher after the family-style restaurant operator beat fourth-quarter earnings expectations and forecast 2011 profits in line with Wall Street's expectations.

Cracker Barrel grew fiscal fourth quarter profits by 20.2% to $27.4 million, or $1.14 per share, compared with year-earlier earnings of $22.8 million, or 99 cents per share.

Cracker Barrel Old Country Store

Revenue increased by 2.8% to $612.5 million, from $595.6 million.

Cracker Barrel forecast fiscal 2011 profits per share in a range between $3.95 and $4.10, in line with analysts' consensus call for full-year earnings of $4 per share. The Lebanon, Tenn.-based restaurant operator expects full year revenue to grow between 3% and 4.5%, to a range between $2.47 billion and $2.51 billion, in line with expectations for $2.48 billion.

"We continue to face the uncertainty from low economic growth and a slow job recovery," said CEO Michael A. Woodhouse, commenting on Cracker Barrel's 2011 forecast. "What we do know is that families dining out remain focused on value."

Comparable same-store sales, or sales at stores open at least one year, a key metric in the restaurant industry, pushed up 2% in the recent fourth quarter. Comps growth of 3.2% in June and 2.9% in July helped to offset same-store sales declines of 0.3% in May.

>>Bankruptcy Watch: 20 Riskiest Restaurant Stocks

Comparable sales for Cracker Barrel's retail operations, where it sells everything from country-style rocking chairs and seasonal gifts to cookware and old-fashioned candies, grew 2.6% in the recent quarter, led by strength in June.

Average checks improved 1.9% year-over-year in the recent quarter, with traffic up 0.1%.

Performance metrics -- comp sales, restaurant sales and retail sales -- were strongest in June, which Cracker Barrel attributed to the Memorial Day holiday weekend results being shifted to the later month, negatively impacting May's data. Even so, average check amounts were strongest in July.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,082.52 +52.31 0.29%
S&P 500 2,091.43 +9.55 0.46%
NASDAQ 4,813.4860 +40.0140 0.84%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs