Cracker Barrel Old Country Store Inc. reported a 27.3-percent increase in net income for the second quarter ended Jan. 30, the company said Tuesday.
The Lebanon, Tenn.-based restaurant-retail operator said net income rose to $47.2 million, or $1.96 a share, from $37.1 million, or $1.55 a share, the previous year. Same-store restaurant sales rose 7.9 percent. During the quarter, Cracker Barrel saw a 3.2-percent increase in average check and a 4.7-percent rise in traffic.
Sandra B. Cochran, Cracker Barrel’s president and CEO, said in a statement that the strong quarterly results were buoyed by mild winter weather and lower gasoline prices.
Cracker Barrel owns and operates 634 locations in 42 states.
2Q NET INCOME
Result: $47.2 million, or $1.96 per share% Increase: 27.3% (from $37.1 million, or $1.55 per share)
2Q REVENUE
Result: $756 million% Increase: 8.2% (from $698.5 million)
2Q SAME-STORE SALES
% Increase restaurant: 7.9%
% Increase retail: 3.2%
Source: Company report
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