CBRL's 3-Q net drops 49%

LEBANON Tenn. CBRL Group Inc., operator of 559 Cracker Barrel Old Country Store restaurants and gift shops, reported a 49 percent decline in its net income for the fiscal 2007 third quarter. The company blamed the drop primarily on higher interest expense related to recapitalization efforts begun last year.

For the quarter ended April 27, CBRL earned $12.3 million, or 45 cents per share, compared with $24 million, or 47 cents per share, in the prior-year third

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