CBRL changes '09 outlook after 1st-Q profit drop

LEBANON Tenn. CBRL Group Inc., parent of the 581-unit Cracker Barrel Old Country Store chain, reported a nearly 8-percent drop in first-quarter profit against rising costs and falling sales, a trend the company said it expects to continue through its fiscal 2009.

CBRL expanded downward its earnings forecast for the year, which ends in July, and reversed earlier projections for increased same-store sales. CBRL said it now expects per-share earnings of between

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