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Cracker Barrel Posts Better-Than-Expected Q3 Results

Tanzeel Akhtar

Cracker Barrel Old Country Store (NASDAQ: CBRL) reported quarterly earnings of $2.09 per share, which beat the analyst consensus estimate of $2.07. This is a 2.96-percent increase over earnings of $2.03 per share from the same period last year.

Cracker Barrel reported quarterly sales of $739.603 million, which beat the analyst consensus estimate of $734.99 million. This is a 2.52-percent increase over sales of $721.413 million the same period last year

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Cracker Barrel's board increased regular quarterly dividend to $1.30 per share, declaring a special dividend of $3 per share, and also authorized share repurchases of up to $50 million.

"I am pleased that we again delivered positive comparable store restaurant sales growth and outperformed the casual dining industry. Our teams continued to make progress on key initiatives, and I am encouraged by our performance, in particular with the early results of our new Signature Fried Chicken initiative," said CEO Sandra B. Cochran.

Cracker Barrel's stock closed Monday at $161.05 per share.

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