Cracker Barrel Old Country Store, Inc. (NYSE: CBRL), a renowned chain of restaurants and retail stores, announced on Thursday its projections for the first quarter, forecasting an adjusted income of $10.17 million, or $0.45 per share. This reflects an increase from the $8.84 million, or $0.40 per share, reported during the same period last year. In response, Cracker Barrel's shares experienced an over 8 percent surge in pre-market trading.
For the first quarter, the company anticipates a net income of approximately $4.84 million, or $0.22 per share, a decrease when compared to last year's $5.46 million, or $0.25 per share. Revenue for the quarter is projected to reach $845.09 million, up from $823.84 million the previous year.
Looking ahead to the full fiscal year, Cracker Barrel is projecting its revenue to range between $3.4 billion and $3.5 billion. On Wednesday, Cracker Barrel’s stock concluded the trading day at $45.27, up 0.47 percent. Over the past 52 weeks, the stock has fluctuated between $34.88 and $83.52.
