Why Cracker Barrel Old Country Store Shares Are Falling Today
Portfolio Pulse from Shivani Kumaresan
Cracker Barrel Old Country Store Inc (NASDAQ:CBRL) reported Q3 FY23 sales growth of 5.4% YoY to $832.69 million, missing analyst consensus of $846 million. Comparable store retail sales decreased 4.6%, and restaurant sales grew 7.4%. Adjusted EPS of $1.21 missed the consensus of $1.34. The company expects Q4 revenue growth of 1% - 3% and anticipates a challenging near-term environment.
June 06, 2023 | 1:39 pm
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Cracker Barrel's Q3 FY23 sales and adjusted EPS missed analyst expectations, with a challenging near-term environment anticipated. Shares are trading lower by 4.25%.
Cracker Barrel's Q3 FY23 sales and adjusted EPS missed analyst expectations, which is a negative signal for investors. The company also anticipates a challenging near-term environment due to heightened economic uncertainty, lower discretionary spending, and weaker consumer confidence. This outlook is likely to negatively impact the stock price in the short term.
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RELEVANCE 100