Cracker Barrel Old Country Store Inc. reported Wednesday a 16.8-percent increase in profit for the May 2-ended third quarter, despite challenging same-store sales.
The Lebanon, Tenn.-based family-dining operator’s same-store sales fell slightly, 0.6 percent, with a 2.9-percent decrease in traffic and a 2.3-percent increase in average check.
Sandra B. Cochran, Cracker Barrel’s president and chief executive, said that despite a challenging consumer environment, the company’s “field teams focused on controlling costs and preserving our operating margins.”
Cracker Barrel owns and operates 627 restaurant-retail stores in 42 states.
3Q NET INCOME
Result: $28.7 million, or $1.20 per share% Increase: 16.8% (from $24.6 million, or $1.02 per share)
3Q REVENUE
Result: $643.3 million% Increase: 0.5% (from $640.4 million)
3Q SAME-STORE SALES
% Decrease restaurant sales: 0.6%
% Increase retail sales: 0.9%
Source: Company report
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