LEBANON Tenn. Cracker Barrel Old Country Store, the 588-unit family-dining chain, introduced Wednesday a new menu line called Fireside Country Skillets.
The three new skillet dishes are Broccoli Cheddar Chicken, Chicken Mushroom Jack and Grilled Beef n’ Broccoli. Check averages for the items, which will be available during the lunch and dinner dayparts, range between $7.99 and $8.99.
Analyst Robert M. Derrington of Morgan Keegan & Co. expressed optimism over the launch of the skillet line, saying it had tested well with consumers, and offered a good nominal sales lift and favorable profit contributions. He added that the rollout has been supported by television and radio advertisements in 25 percent of Cracker Barrel’s markets and should help to build on the company’s already strong results.
“After a number of years with relatively little new food news, we believe the company has spooled up a steady supply of compelling reasons for consumers to visit Cracker Barrel, and more often, in coming months,” Derrington wrote in a report.
Lebanon-based Cracker Barrel Old Country Store Inc. reported net income of $18.4 million, or 81 cents per share, for the second quarter ended Jan. 30, down 9 percent from the same quarter a year earlier. The results beat analysts’ expectations, which averaged 76 cents per share, prompting them to applaud the company’s cost controls and better-than-expected restaurants sales.
Revenues for the second quarter fell 1 percent to $630.2 million, and reflected a same-store restaurant sales decline of 1.5 percent and a same-store retail sales drop of 7.0 percent.
Contact Elissa Elan at [email protected] .