Cracker Barrel Updates Fiscal Year Guidance - Quick Facts

(RTTNews) - Cracker Barrel Old Country Store, Inc. (CBRL) announced, for fiscal 2018, the company now expects earnings per share of between $8.75 and $8.90 reflecting the approximately $0.10 negative impact from hurricanes Harvey and Irma. Previously, the company projected full year EPS in the range of $8.85 and $9.00. The company continues to expect fiscal 2018 total revenue of approximately $3.1 billion, reflecting the expected opening of eight or nine new Cracker Barrel stores and three new Holler & Dash stores, as well as projected increases in comparable store restaurant sales in the range of 2.0% to 3.0% and comparable store retail sales to be approximately flat.

The company expects to report earnings per share for the second quarter of 2018 of between $2.15 and $2.25. First-quarter earnings per share were $1.92 compared to $2.01 in the prior year quarter. The company estimates that hurricanes Harvey and Irma reduced first-quarter EPS by approximately $0.07 and will reduce second-quarter EPS by approximately $0.03.

The company reported total revenue of $710.4 million for the first quarter of fiscal 2018, representing an increase of 0.1% over the first quarter of the prior year. Comparable store restaurant sales increased 0.2%, including a 2.0% increase in average check partially offset by a 1.8% decrease in store traffic. Comparable store retail sales decreased 3.6% from the prior year quarter.

The company's Board declared a quarterly dividend of $1.20 per share on common stock, payable on February 5, 2018 to shareholders of record on January 12, 2018.