Cracker Barrel Reports First Quarter Fiscal 2020 Results and Declares Quarterly Dividend

Cracker Barrel Old Country Store Logo

Comparable store restaurant sales growth and traffic outperform the casual dining industry
Board declares quarterly dividend of $1.30 per share

Cracker Barrel Old Country Store, Inc. (“Cracker Barrel” or the “Company”) (Nasdaq: CBRL) today reported its financial results for the first quarter ended November 1, 2019.

First Quarter Fiscal 2020 Highlights

  • Comparable store restaurant sales growth of 2.1% and traffic of -1.5% outperformed the casual dining industry.
  • As previously announced, the Company acquired Maple Street Biscuit Company in an all-cash transaction for $36 million.
  • The Company repurchased $14.2 million in shares in the first quarter.
  • GAAP earnings per diluted share were $1.79 compared to prior year first quarter earnings per diluted share of $1.96. This figure includes unfavorable impacts to earnings per diluted share for the quarter of ($0.11) related to transactional and integration expenses associated with the acquisition of Maple Street Biscuit Company and ($0.25) from the Company’s equity method investment in its unconsolidated subsidiary Punch Bowl Social.
  • The Company’s Board of Directors declared a quarterly dividend of $1.30 per share on the Company’s common stock, payable on February 5, 2020 to shareholders of record on January 17, 2020.

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