Cracker Barrel Increases 2016 Earnings Guidance - Quick Facts

(RTTNews) - Cracker Barrel Old Country Store, Inc. (CBRL) raised its fiscal 2016 earnings guidance to reflect expected moderation in food commodity prices and the anticipated tax benefit of WOTC. The company now expects to report adjusted earnings per share for the 2016 fiscal year of between $7.40 and $7.50. Analysts polled by Thomson Reuters expect the company to report profit per share of $7.39. Analysts' estimates typically exclude special items.

The company expects to report increases in comparable store restaurant sales and comparable store retail sales in the range of 1.5% to 2.5%. The company expects total revenue of between $2.90 billion and $2.95 billion, reflecting the expected opening of five or six new Cracker Barrel stores during the fiscal year.

Cracker Barrel expects to report earnings per share for the third quarter of fiscal 2016 of between $1.70 and $1.80.