Cracker Barrel Old Country Store shares went up after the company reported fourth-quarter earnings that beat Wall Street’s expectations.
Revenue was $849.3 million, which is 2.2% lower than last year but still higher than analysts’ estimate of $845 million. Adjusted earnings were 99 cents per share, much higher than Wall Street’s forecast of 26 cents for the quarter ending July 31.
The stock price increased by 8.3% on Wednesday.
Sales at restaurants open at least a year fell 2.1% compared to last year, but retail sales in those stores went up 0.7%. Looking ahead to fiscal 2027, Cracker Barrel expects total revenue between $3.33 billion and $3.4 billion, with restaurant sales at existing locations projected to grow 3% to 5%, assuming no new stores open. Analysts surveyed by FactSet had expected revenue of $3.38 billion for 2027.
These results follow Cracker Barrel’s appointment of David Deno as its new chief executive this summer. Deno officially started the job on August 10.
