said its earnings fell 4.7% from a year ago in the fourth quarter.
The Lebanon, Tenn.-based company earned $35.8 million, or $1.03 a share, in the quarter, compared with $37.6 million, or 74 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 78 cents a share. The company said its recent recapitalization, in which it repurchased about 35% of its outstanding shares, reduced the net income due to higher interest on additional debt, while increasing net income per share due to a reduction in the number of shares outstanding.
Fourth-quarter revenue rose 1.7% from a year-ago period to $671.1 million as against analysts' expectation of $679.9 million.
Comparable store restaurant sales for the fourth quarter were down 3% for Cracker Barrel Old Country Store, while comparable store retail sales at Cracker Barrel were down 4.9%. Comparable restaurant sales for Logan's Roadhouse were
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