By Denny Jacob
Cracker Barrel Old Country Store is off to a good start in its current fiscal year as preliminary first quarter results showed higher sales from a year earlier.
The Lebanon, Tenn., restaurant operator reported $4.8 million in net income, or 22 cents a share, for the first quarter ended Nov. 1, down from $5.5 million, or 25 cents a share, a year earlier.
Stripping out one-time items, earnings were 45 cents a share. Analysts polled by FactSet expected 34 cents a share.
Revenue rose to $845.1 million from $823.8 million. Analysts polled by FactSet expected $826.4 million.
Cracker Barrel maintained its outlook for the fiscal year 2025, with expected total revenue of $3.4 billion to $3.5 billion.
"We are building momentum across our operations, and while we have more work to do, we are encouraged and energized by the early favorable results of our strategic initiatives," said Chief Executive Julie Masino.
Cracker Barrel said it plans to report final first-quarter results on Dec. 4.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
November 14, 2024 08:38 ET (13:38 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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