Cracker Barrel Sales Nipped

Shares of CBRL fall after the company says weather hurt March results.
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Shares of

CBRL Group

(CBRL) - Get Report

slid Tuesday after the restaurant and retail store operator said March same-store sales dropped due to bad weather.

Shares recently were down $2.25, or 4.5%, to $48.09.

The Lebanon, Tenn.-based owner of the Cracker Barrel chain said same-store sales slipped 1% at its restaurants for the four-week period ended March 23. Same-store sales, or comps, represent sales at restaurants open at least a year.

The average check at the restaurants increased about 1.4% amid 1.5% higher average menu pricing.

Comps at CBRL's retail stores, meanwhile, fell 0.3%.

The company said winter weather in March hurt store restaurant comps by about 0.5% to 1%, while retail store comps suffered a 1% to 1.5% decrease due to foul weather.

CBRL operates 556 Cracker Barrel Old Country Store restaurants and gift shops in 41 states.