Cracker Barrel Posts Higher Q4 Profit - Quick Facts

(RTTNews) - Cracker Barrel Old Country Store, Inc. (CBRL), the operator of Cracker Barrel Old Country Store restaurant and retail concept, reported Wednesday a 14% growth in fourth-quarter net profit to $39.185 million, or $1.63 a share, from $34.3 million, or $1.43 a share, last year. On average, 7 analysts polled by Thomson Reuters expected the company to report profit of $1.56 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly total revenue of $692.75 million, was 2.8% higher than the prior year's $674.1 million. Analysts expected revenue of $685.91 million for the quarter. Comparable-store restaurant sales grew by 1.2%, including a 3.1% increase in average check offset by a 1.9% decrease in store traffic. Comparable-store retail sales were up 2.6% for the three-month period.

Operating income for the fourth quarter reached $60.3 million, or 8.7% of total revenue.

For fiscal 2015, the firm sees total revenue of between $2.75 billion and $2.80 billion, and earnings per share of $5.80 - $5.95. Analysts project annual earnings per share of $6.08 on $2.77 billion in revenue. The increased 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 2.0% - 3.0%. Further, Cracker Barrel expects an effective tax rate for fiscal 2015 between 32% and 33%.