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Jan 27, 2023
Cracker Barrel Q2 2023 Earnings Report
Cracker Barrel's Q2 2023 financial results were reported, with sales and operating income margin exceeding expectations, driven by strong off-premise and retail performance.
Key Takeaways
Cracker Barrel reported an 8.3% increase in total revenue to $933.9 million for the second quarter of fiscal 2023. Comparable store restaurant sales increased by 8.4%, and retail sales increased by 4.1%. GAAP earnings per diluted share were $1.37, while adjusted earnings per diluted share were $1.48.
Total revenue increased by 8.3% compared to the prior year quarter.
Comparable store restaurant sales increased by 8.4%, driven by menu pricing.
Comparable store retail sales increased by 4.1% from the prior year quarter.
GAAP earnings per diluted share decreased by 14.4% to $1.37.
Cracker Barrel
Cracker Barrel
Forward Guidance
The Company provided an update to its fiscal 2023 outlook, reminding readers that uncertainties created by current macroeconomic conditions may cause actual results to differ materially from those expected.