The Lebanon, TN-based company posted fiscal Q4 net income of $2.12 per share, narrowly missing Wall Street estimates of $2.13. Revenue rose 3.7% from last year to $745.6 million, beating analysts’ view of $741.21 million.
Comparable store restaurant sales rose 3.2% from the same quarter last year, on a 4.4% rise in average check size, albeit on a 1.2% decrease in store traffic. Comparable store retail sales rose 3.5% (CBRL’s restaurants include a general store attached to them where customers can purchase provisions).
Looking ahead, Cracker Barrel forecast fiscal Q1 EPS of $1.75-1.85, which would badly miss Wall Street’s view of $1.94. For the full year 2017, the company expects EPS of $7.95-8.10, also well below analyst estimates of $8.32.
From the press release:
Commenting on the fourth quarter and full fiscal year results, Cracker Barrel President and Chief Executive Officer Sandra B. Cochran said, “We believe the strategic programs we implemented during the fiscal year successfully drove our continued positive results. While we anticipate ongoing challenges in the industry during fiscal 2017, our management team and employees remain focused on delivering continued growth in our business and driving long-term shareholder value.”
Cracker Barrel shares fell $2.53 (-1.68%) to $148.00 amid choppy trading in premarket action on Wednesday. Prior to today’s report, CBRL had gained 18.7% year-to-date.