Cracker Barrel beats, raises

Investor's Business Daily

The restaurant chain's fiscal Q2 net income rose 19% to $1.43, beating analyst estimates by 18 cents. Sales stayed strong despite bad weather that kept traffic down in some locations, allowing the company to raise menu prices. Revenue grew 4.4% to $702.7 mil, ahead of Wall Street's target of $694.1 mil. Cracker Barrel (CBRL), which operates 621 of its namesake restaurants nationally, raised its full-year EPS estimate to $4.60-$4.80 from $4.50-$4.70. Analysts expected $4.65. Shares rose 8.7% to 72.75.

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