CBRL lowers expectations on soft sales

LEBANON Tenn. CBRL Group Inc., operator of the 577-unit Cracker Barrel Old Country Store chain, on Tuesday reduced its full-year profit and revenue guidance and said June same-store sales were below company expectations.

Citing “continuing negative pressures on consumers” for its softened results, CBRL lowered by about 8 percent its annual earnings per share expectations to between $2.77 and $2.87. The company's previous guidance, which was released in May,