Cracker barrel eagle3/14/2023 This was driven by continued strength in off-premise sales and improving staffing levels, with a significant recovery in the breakfast and lunch dayparts. At ~16x FY2022 earnings estimates with a ~4.0% yield, Cracker Barrel is becoming a value play, but I still see better opportunities elsewhere in the market.Ĭracker Barrel released its CYQ3 (fiscal Q1 2022) results last week, reporting quarterly revenue of $784.9 million, a 21% increase year-over-year, and a mid-single-digit increase from fiscal Q1 2020. While the company did see improving sales in its fiscal Q1-22 results with positive comp sales on a 2-year basis, it did see some margin headwinds from commodity cost inflation. Cracker Barrel ( NASDAQ: CBRL) hasn't been immune from either issue. It's been a tough second half of the year for the restaurant industry, with the realization that inflation appears to be anything but transitory while staffing challenges have affected sales performance.
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