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Cracker Barrel Annual Results Improve

|Includes:Cracker Barrel Old Country Store, Inc. (CBRL)

Originally published at www.seclive.com

Filing in Focus: Cracker Barrel 8-K, September 18, 2013

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) announced its fourth quarter and full-year financial results for fiscal year 2013, missing some analyst expectations but making positive progress in its earnings. The fourth quarter was the seventh straight quarter with improvements in restaurant sales, retail sales, and comparable store traffic. Quarterly earnings were down 1.1% but the decrease was explained due to one less week of sales a year ago. Annual revenues increased 4.6% while comparable store sales increased 3.0%. Company earnings were $117.3M, or $4.90 per share, compared to last year's $103.1M, or $4.40 per share. For the fiscal year 2014, Cracker Barrel is projecting revenues between $2.70B and $2.75B with earnings per share between $5.60 and $5.80. This past year the company reduced its debt by $125.1M and paid $45.4M in dividends.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: CBRL