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Cracker Barrel’s Q1 Outlook Disappoints Investors

Restaurant operator, Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) said on Wednesday that fiscal fourth quarter income fell 1.1% as revenue dipped due to one less week for sales compared to same period of last year, offsetting better-than-expected growth in comparable-store-sales. Both earnings and revenue edged past analysts’ expectation; however, shares fell sharply as the outlook for the current quarter disappointed investors. The Company expects earnings of $1.05 to $1.15 a share while analysts’ surveyed by Thomson Reuters had forecasted $1.32 a share. The Company said that higher food prices, costs associated to staff-training and some other expenses linked to the introduction of low-calorie items will put pressure on margins.

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