CBRL lowers outlook on consumer spending concerns

LEBANON Tenn. While reporting a 28.5-percent year-to-year drop in first-quarter profit and negative guest traffic at its 568-unit Cracker Barrel Old Country Store chain, parent company CBRL Group Inc. reduced its same-store sales and annual per-share earnings outlook, citing the “expectation of continued pressure on consumer discretionary income.”

On Wednesday, CBRL reported net income of $13.9 million for the quarter ended Nov. 2, compared with $19.4 million

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