Cracker Barrel Old Country Store Inc (CBRL)

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Why is Cracker Barrel Old Country Store Inc (CBRL) Stock down?

We've noticed a 7.02% decline in Cracker Barrel Old Country Store Inc (CBRL) stock during the 2024-04-17 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

30 Nov, 2023:

Cracker Barrel Old Country Store Inc Stock (CBRL) dropped by 10.62% from $75.11 to $67.13 in the trading on Thursday November 30, 2023. The reasons why CBRL stock down today include:

Missed Q1 FY24 earnings results **:The company reported quarterly **revenues of $823.8 million, down 1.9% Y/Y, missing the consensus of $826.21 million, compared with the management guidance of $800 million -$850 million. Adjusted EPS of $0.51, a 48% decrease from $0.99 a year ago, missing the consensus of $0.75.
Decreased sales: Cracker Barrel comparable store restaurant sales decreased 0.5%, including total menu pricing increases of 6.8%. Comparable store retail sales fell 8.1% from the prior-year quarter. Same-store sales were in line, though they declined in absolute terms as traffic declined
Fiscal 2024 guidance: Cracker Barrel initiated fiscal 2024 guidance below Wall Street Consensus for revenue and operating margin. Cracker Barrel expects FY24 revenue of $3.4 billion to $3.5 billion versus the consensus of $3.5 billion.