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Cracker Barrel Stock Rises as Restaurant Sales Improve

Umito November 15, 2024

Key takeaways

Cracker Barrel stock rose as the company’s preliminary first-quarter results beat analysts’ expectations.
Same-restaurant sales improved while same-store retail sales slowed.
Cracker Barrel shares have improved but are still down about a third year to date.

Cracker Barrel Country Store (CBRL) shares rose after the company’s preliminary first-quarter revenue and adjusted earnings beat analysts’ expectations on Thursday.

The iconic restaurant chain said it expects revenue of $845.1 million, up 2.6% year over year and above Visible Alpha analyst consensus. Adjusted earnings per share were 45 cents, up from 40 cents a year ago and beating analysts’ estimates.

Same-store restaurant sales improved 2.9%, while same-store retail sales declined 1.6%.

Cracker Barrel shares improved more than 8% intraday Thursday, but are down as much as 33% in 2024.