— Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) reported its first-quarter 2020 earnings of $1.79 per share versus $2.06 per share expected.
— Total revenue increased by 2.1% year-over-year to $749 million versus $755.09 million expected.
— Cracker Barrel comparable store restaurant sales increased by 2.1%, as a 3.6% increase in average check offset a 1.5% decrease in comparable store restaurant traffic. The average menu price increase was about 2.3%.
— Comparable store retail sales decreased 0.9% from the prior-year quarter.
— Looking ahead into fiscal 2020, the company expects earnings in the range of $8.50-8.65 per share compared to the consensus estimates of $9.50 per share.
— Total revenue is expected to be in the range of $3.15-3.20 billion compared to the consensus estimates of $3.18 billion for the full year.
— Cracker Barrel comparable store restaurant sales growth is predicted to be about 2% and Cracker Barrel comparable store retail sales growth is projected to be about 1% for the full year.
— Capital expenditures are anticipated to be in the range of $115 million to $125 million for fiscal 2020.
— The company’s board of directors declared a quarterly dividend of $1.30 per share on its common stock. The dividend is payable on February 5, 2020, to shareholders of record on January 17, 2020.
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