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Oct 28, 2022
Cracker Barrel Q1 2023 Earnings Report
Cracker Barrel reported topline performance and operating income results in line with expectations for the first quarter of fiscal year 2023.
Key Takeaways
Cracker Barrel's first quarter fiscal 2023 saw a revenue increase of 7.0% compared to the prior year, with comparable store restaurant sales up 7.1% and retail sales up 4.3%. GAAP operating income was $23.6 million, while GAAP net income was $17.1 million, a decrease of 48.7% compared to the prior year. The Board declared a quarterly dividend of $1.30 per share.
Total revenue increased by 7.0% to $839.5 million.
Comparable store restaurant sales increased 7.1%, including menu pricing of 7.8%.
Comparable store retail sales increased 4.3%.
GAAP net income decreased 48.7% to $17.1 million.
Forward Guidance
The Company anticipates the near-term consumer environment will remain challenged due to continued inflation, low consumer confidence, and macroeconomic uncertainty.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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