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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