{"id":19024,"date":"2023-06-06T16:03:22","date_gmt":"2023-06-06T20:03:22","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/cracker-barrel-hit-by-dining-decline-the-stock-falls-as-it-misses-on-earnings\/"},"modified":"2023-06-06T16:03:23","modified_gmt":"2023-06-06T20:03:23","slug":"cracker-barrel-hit-by-dining-decline-the-stock-falls-as-it-misses-on-earnings","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=19024","title":{"rendered":"Cracker Barrel Hit by Dining Decline. The Stock Falls as It Misses on Earnings."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000663848\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Cracker Barrel Old Country Store<br \/>\n       stock was falling Tuesday after the restaurant chain missed revenue and earnings expectations for its fiscal third quarter as traffic declined.<\/p>\n<p>Cracker Barrel (ticker: CBRL) reported earnings of $1.21 a share on revenue of $832.7 million. Analysts surveyed by FactSet were expecting earnings of $1.34 a share on revenue of $845.7 million.<\/p>\n<div class=\"paywall\">\n<p>\u201cOur third-quarter results included solid comparable-store restaurant sales growth of 7.4% compared with the prior year,\u201d Chief Executive Sandra Cochran said in the earnings release. She added that this was below expectations \u201cas a result of the casual dining traffic declines that occurred toward the end of the quarter.\u201d<\/p>\n<p>The company also said operating income for the quarter was $16.8 million, which was a major decline from the same quarter the prior year when it posted $30.5 million. Cracker Barrel said the decrease in operating income was mostly due to impairment charges, store-closure expenses, higher general and administrative expenses, and the higher cost of retail goods.<\/p>\n<p>Cracker Barrel also provided an outlook for the fourth quarter that disappointed investors\u2014the company expects total revenue growth of between 1% and 3% compared with the prior year. That would imply fourth-quarter revenue below analysts\u2019 estimates of $886.8 million.<\/p>\n<p>Shares of Cracker Barrel fell 4.1% Tuesday to $93.33. The stock has declined 1.5% so far this year.<\/p>\n<p>Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/cracker-barrel-stock-falls-earnings-revenue-guidance-miss-157011a7?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cracker Barrel Old Country Store stock was falling Tuesday after the restaurant chain missed revenue and earnings expectations for its fiscal third quarter as traffic declined. Cracker Barrel (ticker: CBRL) reported earnings of $1.21 a share on revenue of $832.7 million. Analysts surveyed by FactSet were expecting earnings of $1.34 a share on revenue of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-19024","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cracker Barrel Hit by Dining Decline. 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