Last $139.07 USD
Change Today +0.91 / 0.66%
Volume 228.5K
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Munich
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

cracker barrel old country (CBRL) Key Developments

Cracker Barrel Old Country Store, Inc. Declares Quarterly Dividend, Payable on February 5, 2015

Cracker Barrel Old Country Store, Inc. announced that its Board of Directors has declared a regular quarterly dividend to common shareholders of $1.00 per share, payable on February 5, 2015, to shareholders of record on January 16, 2015.

Cracker Barrel Old Country Store, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended October 31, 2014; Revises Earnings Guidance for the Full Year of Fiscal 2015; Provides Earnings Guidance for the Second Quarter of Fiscal 2015; Announces Expansion Plans

Cracker Barrel Old Country Store, Inc. announced unaudited consolidated earnings results for the first quarter ended October 31, 2014. For the quarter, the company’s total revenue was $683,428,000 compared to $649,141,000 for the same period a year ago. Operating income was $55,442,000 compared to $44,237,000 for the same period a year ago. Pretax income was $51,018,000 compared to $39,830,000 for the same period a year ago. Net income was $34,024,000 or $1.42 per diluted share compared to $27,160,000 or $1.14 per diluted share for the same period a year ago. Net cash provided by operating activities was $36,729,000 compared to net cash used in operating activities of $9,231,000 for the same period a year ago. Purchase of property and equipment, net of insurance recoveries was $18,419,000 compared to $17,122,000 for the same period a year ago. On adjusted basis, the company's operating income was $55,442,000 against $47,061,000 a year ago. Pretax income was $51,018,000 against $42,654,000 a year ago. Net income was $34,024,000 or $1.42 per diluted share against $29,086,000 or $1.22 per diluted share a year ago. Operating income for the first quarter was approximately 18% higher than the prior year when adjusted for prior year proxy contest expenses. In addition, diluted earnings per share grew more than 16% versus the adjusted prior year quarter. Capital expenditures were $18.4 million compared to $17.1 million in the prior year quarter, which reflects higher spending on new store and maintenance capital, partially offset by the timing of spending on information systems upgrades. Based upon year-to-date financial performance, recent trends and current estimates, the company raised its full-year earnings guidance. For fiscal 2015, the company now expects total revenue of approximately $2.8 billion, an operating income margin of between 8.0% and 8.5%, and earnings per diluted share of between $5.95 and $6.10. The revenue projection for fiscal 2015 reflects the expected opening of six or seven new Cracker Barrel stores and projected increases in comparable store restaurant and retail sales in a range of 2.5% to 3.5%. The company's projections are based upon expected food commodity inflation of approximately 4.0% to 4.5% for the year; depreciation expense between $71 million and $73 million; and net interest expense between $17 million and $18 million. The company expects an effective tax rate of between 32% and 33%, which assumes that the Work Opportunity Tax Credit (WOTC) is not renewed. The Company expects capital expenditures during fiscal 2015 to be between $100 million and $110 million. The company expects to report earnings per diluted share for the second quarter of 2015 of between $1.50 and $1.60. The second quarter guidance anticipates continued pressure on retail gross margins. The company continue to expect to open 6 or 7 new stores this fiscal year including first fusion prototype in the fourth quarter.

Cracker Barrel Old Country Store, Inc., Q1 2015 Earnings Call, Nov 25, 2014

Cracker Barrel Old Country Store, Inc., Q1 2015 Earnings Call, Nov 25, 2014

Cracker Barrel Old Country Store, Inc. Declares Quarterly Dividend, Payable on November 5, 2014

Cracker Barrel Old Country Store, Inc. announced that its Board of Directors has declared a regular quarterly dividend to common shareholders of $1.00 per share, payable on November 5, 2014, to shareholders of record on October 17, 2014.

Reed's, Inc. Begin Reed's, Inc.'s Flying Cauldron Butterscotch Beer

Reed's, Inc. announced that Cracker Barrel Old Country Store, Inc. has begun carrying Reed's Flying Cauldron Butterscotch Beer in all 630 of its corporate-owned retail locations.

 

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