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 story : Cracker Barrel stock up 2.3% premarket after profit beat and upbeat revenue guidance #FinanceUSA #StockMarketNEWS Cracker Barrel Old Country Store Inc. stock rose 2.3% in premarket trade Tuesday,

@stockMarketNEWS Wed 28 Sep, 2022

Posted in: #FinanceUSA #StockMarketNEWS

Cracker Barrel stock up 2.3% premarket after profit beat and upbeat revenue guidance #FinanceUSA #StockMarketNEWS
Cracker Barrel Old Country Store Inc. stock rose 2.3% in premarket trade Tuesday, after the restaurant and retail store operator beat profit estimates for its fiscal fourth quarter, offsetting a revenue miss, and offered upbeat revenue guidance for fiscal 2023. The company posted net income of .4 million, or .47 a share, for the quarter to July 29, compared with .4 million, or .53 a share, in the year-earlier period. Adjusted per-share earnings came to .57, well ahead of the .38 FactSet consensus. Revenue rose to 0.4 million from 4.4 million a year ago, below the 7.0 million FactSet consensus. Same-restaurant sales rose 6.1%, while same-store sales were up 3.0%. The company is now expecting fiscal 2023 revenue growth of 7% to 8%. The FactSet consensus implies growth of 3.3%. It expects commodity inflation of about 8% and wage inflation of about 5%. Shares are down 24% in the year to date, while the S&P 500 has fallen 23%.


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