During their Q2 financial report, Cracker Barrel Old Country Store, Inc. (CBRL) announced a revision of its total revenue projections for the entire year of 2023. The new projection estimates the total revenue to be in the range of $3.5 billion to $3.6 billion, an increase from the previous projection of $3.4 billion to $3.5 billion.
A poll conducted by Thomson Reuters, involving nine analysts, matched the company's expectations, predicting annual revenues of around $3.5 billion.
Moreover, Cracker Barrel further announced that its Board of Directors has approved a quarterly dividend payment of $1.30 per share on the company's common stock. This dividend will be payable on May 7, 2024, to all shareholders who are on record as of April 12, 2024.
On the topic of their Q2 performance, the company reported a 1.2 percent increase in comparable store restaurant sales. However, there was a downturn in the retail sector, with comparable store sales experiencing a 5.3 percent decline.
