Cracker Barrel Reports on Q4 and FY 2018

09/20/2018

In a press release dated September 18th Cracker Barrel Old Country Store Inc. announced results for the 4th Quarter and Fiscal 2018 ending August 3rd 2018.

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS)

4th Quarter Ending.

Aug. 3rd 2018

July 28th 2017

Difference (%)

Sales: (82 percent food)

$810,893

$743,226

+9.1

Gross profit:

$564,916

$525,844

+7.4

Operating income:

$82,771

$83,240

-0.6

Net Income

$61,354

$53,893

+13.8

Diluted earnings per share:

$2.55

$2.33

+9.4

Gross Margin (%)

69.6

70.8

+1.7

Operating Margin (%)

10.2

11.2

+8.9

Profit Margin (%)

7.6

7.5

+1.3

Long-term Debt:

$400,000

$400,00

nil

12 Months Trailing:

     

Return on Assets (%)

11.8

   

Return on Equity (%)

38.7

   

Operating Margin (%)

9.9

   

Profit Margin (%)

8.1

   

Total Assets

$1,527,355

$1,521,942

+0.4

Market Capitalization

$3,450,000

   

52-Week Range in Share Price: $141.63 to $179.12

Market Close Tuesday 18th $143.80 (-4.6 percent)

Forward P/E: 15.4 Beta 0.2

For FY 2018 Cracker Barrel generated net earnings of $247.6 million (up 3.5 percent over Q4 FY 2017) on sales of 3.03 billion (up 3.5 percent). EPS increased by 22.9 percent from $8.37 in FY2017 to $10.29 in FY 2018. CBRL is down 9.5 percent YTD.

Cracker Barrel missed revenue expectations of $825 million and EPS of $2.66 resulting in a sell-off. The short of float amounted to 20.4 percent on September 20th.

Cracker Barrel operates 660 locations which generated a 0.4 percent decline in same-store sales. The 3.5 percent lower same store traffic was partly offset by a 3.1 percent increase in transaction partly due to a 2.7 percent average increase in menu prices.

Commenting on the fourth quarter and full fiscal year results, Cracker Barrel President and CEO, Sandra B. Cochran said, "The softer sales trend we saw in May persisted throughout the quarter, leading to fourth quarter results that fell below expectations. Our traffic was challenged, particularly with lighter users and during the dinner daypart, some of which was attributable to our menu and marketing promotion not delivering the anticipated topline traffic and sales. While our results did not meet our expectations, I am confident that our initiatives and plans for fiscal 2019 will drive improved performance."














































































































































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