Cracker Barrel Old Country Store, Inc.CBRL is principally engaged in the operation and development of the Cracker Barrel Old Country Store restaurant and retail concept. It's distinctiveness in the retail-restaurant sector lies in the fact that apart from serving food, its restaurant establishments have old-country feel along with unique gift shops.
Cracker Barrel's focus on delivering a differentiated brand experience, its excellent operations execution and broadened marketing efforts has been boosting comps. Meanwhile, the company's cost saving initiatives, commodity costs favorability and the growth of its off-premise business, should further drive growth.
However, a soft consumer spending environment in the U.S. restaurant space might continue to keep traffic, and thereby comps under pressure.
Investors should note that the consensus estimate for CBRL has been moving slightly upwards over the last 60 days. Moreover, CBRL's earnings have been strong over the past few quarters. In fact, the company's earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, with an average beat of 2.96%. However, revenues posted positive surprises in just one of the trailing four quarters.
Cracker Barrel Old Country Store, Inc. Price and EPS Surprise
CBRL currently has a Zacks Rank #2 (Buy) but that could change following Cracker Barrel's earnings report which was just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings : CBRL beats on earnings. Our consensus earnings estimate called for earnings per share of $2.14, and the company reported earnings of $2.19 per share. Investors should note that these figures take out stock option expenses.
Revenues : CBRL reported revenues of $772.7 million, lagging the Zacks consensus estimate of $777 million.
Key Stats to Note : In second-quarter fiscal 2017, comparable restaurant sales increased 0.6% year over year. However, comparable retail sales decreased 2.2% in the quarter.
Stock Price Impact : At the time of writing, the stock price of Cracker Barrel was down nearly 5% during pre-market trading hours following the earnings release.
Check back for our full write up on this CBRL earnings report later!
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>
Latest Markets Videos
- The $12 Trillion "Once-in-a-Lifetime" Market Opportunity Investors Won't Want to Miss
- J.P. Morgan Says These 3 Stocks Could Surge Over 100% From Current Levels
- Forget Tesla's Battery Day, These EV Stories Are More Important
- ChargePoint, Switchback Energy Acquisition Enter Business Combination Agreement