UPDATE: Cracker Barrel Posts 1.1% Drop In Q4 Earnings, Issues Downbeat Q1 Forecast

Cracker Barrel Old Country Store

reported a 1.1% drop in its fiscal fourth-quarter earnings. For the current quarter, Cracker Barrel projects earnings of $1.05 to $1.15 per share, versus analysts' estimates of $1.32 per share. Cracker Barrel's quarterly profit fell to $34.3 million, or $1.43 per share, from $34.7 million, or $1.47 per share, in the year-ago period. Its revenue declined 3.7% to $674.1 million. However, analysts were estimating earnings of $1.35 per share on revenue of $669 million. Its operating margin narrowed to 8.1% from 8.6%, while same-store restaurant sales surged 2.6%. Cracker Barrel shares fell 2.80% to $104.00 in pre-market trading.