Tag Archives: Cracker Barrel

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Cracker Barrel Old Country Store® Voted #1 in 2013 Consumer Picks Survey

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By Business Wirevia The Motley Fool

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Cracker Barrel Old Country Store® Voted #1 in 2013 Consumer Picks Survey

LEBANON, Tenn.–(BUSINESS WIRE)– For the third year in a row, Cracker Barrel Old Country Store® has taken top honors in the family dining segment of the Consumer Picks survey produced by Nation’s Restaurant News and WD Partners. The study measured guest responses toward 154 restaurant brands constituting three restaurant segments: family dining, casual dining, and fine dining chains. In the family dining segment, Cracker Barrel led in nine of the survey’s ten categories, including Food Quality, Cleanliness, Service, Menu Variety, Craveability, Atmosphere, Reputation, Likely to Return, and Likely to Recommend, with a 13 point margin in Atmosphere. In addition, Cracker Barrel outscored its closest competitor by six percentage points in the overall rankings.

The article about the survey appears in the March 25, 2013 issue of Nation’s Restaurant News and notes that Cracker Barrel‘s clear leadership in the family dining category is the result of success with strategic initiatives, particularly in Marketing, Menu, and Operations. It highlights the company’s strong retail brand presence that is enhanced through the Cracker Barrel Old Country Store exclusive music program and artist tour sponsorships such as the Brad Paisley BEAT THE SUMMER TOUR presented by Cracker Barrel Old Country Store®. The varied menu and the addition of more healthful options have increased the brand’s mass appeal, while the focus on affordability was clearly noted through the 14 choices of Country Dinner Plates priced at $7.69.

“I am delighted that Cracker Barrel Old Country Store earned such high rankings because it shows that the dedication of our 70,000 employees to our mission of Pleasing People® consistently brings quality food, hospitality and service to our guests every day,” said Cracker Barrel Old Country Store, Inc. President and Chief Executive Officer Sandra B. Cochran. “We’re very proud that our guests have honored us for a third year in a row with a first place in the family dining category. They know us for our great homestyle food and shopping, rockers on the porch, authentic Americana décor and friendly service, but it is our employees who do an outstanding job of helping every guest feel welcome and relaxed.”


About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc. provides a friendly home-away-from-home in its old country stores and restaurants. Guests are cared for like family while relaxing and enjoying real home-style food and shopping that’s surprisingly unique, genuinely fun and reminiscent of …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Brad Paisley's Wheelhouse – Special Edition CD for Cracker Barrel Old Country Store® Available April

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By Business Wirevia The Motley Fool

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Brad Paisley’s Wheelhouse – Special Edition CD for Cracker Barrel Old Country Store ® Available April 9

LEBANON, Tenn.–(BUSINESS WIRE)– Cracker Barrel Old Country Store® and Arista Nashville announce the release of Brad Paisley’s Wheelhouse – Special Editionalbumwhichwill be available on April 9 at all Cracker Barrel Old Country Store® locations and online at crackerbarrel.com and select digital retailers. The release includes three additional exclusive tracks and coincides with Paisley’s Wheelhouse standard edition release on Arista Nashville.

Among the special guests joining Paisley on Wheelhouse – Special Edition are Charlie Daniels, LL COOL J, Eric Idle, Mat Kearney, Dierks Bentley, Hunter Hayes, and the late Roger Miller. Paisley produced his new album and wrote or co-wrote all 17 of the tracks.

“Three of the tracks on Wheelhouse – Special Edition are exclusive to Cracker Barrel, making an exceptional addition to Brad Paisley‘s latest, already outstanding CD,” says Cracker Barrel Marketing Manager Julie Craig. “We’re thrilled to bring our guests a Brad Paisley music experience both in our stores and throughout the country as his Beat This Summer Tour presented by Cracker Barrel Old Country Store®travels to 29 cities in the U.S. and Canada beginning in May.”

Paisley is a critically acclaimed singer, songwriter, guitarist and entertainer, which has earned him three GRAMMY® awards, 14 Academy of Country Music Awards, 14 Country Music Association, three ASCAP Country Music Songwriter/Artists awards and numerous other awards, as well as being a proud member of the Grand Ole Opry. Since his first #1 single in 1999, he has placed 21 singles at the top of the country charts. Paisley’s upcoming album, Wheelhouse – Special Edition, will be released on April 9 and includes the #1 hit, “Southern Comfort Zone,” and his current single, “Beat This Summer.” His 2012 Virtual Reality World Tour played to over one million fans in the U.S. and Europe. His 2013 tour will kick off on May 9 in St. Louis – Beat This Summer Tour presented by Cracker Barrel Old Country Store®.

www.BradPaisley.com, www.Facebook.com/BradPaisley, on Twitter @BradPaisley

www.crackerbarrel.com, www.Facebook.com/CrackerBarrel, on Twitter @crackerbarrel


About Cracker Barrel Old Country Store

Cracker Barrel Old Country Store, Inc. provides a friendly home-away-from-home in its old country …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

How to Invest in Cracker Barrel … the Smart Way

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By Michael Lewis, The Motley Fool

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Despite its stock flying at multi-year highs and impressive earnings figures, Cracker Barrel Old Country Store  remains under attack by activist and takeover specialist Sardar Biglari of Biglari Holdings . The company has resisted the investor’s efforts every step of the way, recently swallowing a poison pill to prevent his firm from obtaining more than 20% ownership. With the recent earnings release, minority shareholders may not be likely to vote in favor of change– ie. giving Biglari seats on the board. Still, some believe the investor holds solid suggestions for further enhancing shareholder value. With the most recent earnings in mind, and Biglari’s annual meeting on the horizon, is Cracker Barrel a smart pick?

Brief history
Biglari owns $358 million worth of Cracker Barrel. That makes up all but $122 million on Biglari Holdings‘ market cap. Why such a concentrated portfolio for a holdings company Biglari has a history of doing well with quick-service restaurant chains. The investor owns Steak n Shake, as well as Western Sizzlin’. Both were in deep trouble before Biglari began his activist stake, and since then, both have recovered — and even prospered.

The battle for Cracker Barrel seems to be a bit different though, as the stock has gained 60% in two years, and more than 23% in the last three months. Using the typical measure of what is a successful investment, Biglari has already far passed the satisfactory mark for his company’s position in the roadside restaurant chain. So why are the two at such odds?

For one thing, Biglari believed, as recently as the third quarter of last year, that the company was misrepresenting its ROC for stores open less than one year — by a fat margin. While Cracker Barrel boasts more than 16% returns, Biglari thinks its closer to 3%. This would dictate a vast difference on key performance indicators for management. In a letter to shareholders from last October, Biglari writes,

The Board has spent nearly $700 million in capital over the past eight years, while over the same time span operating income has grown by an insufficient $12.4 million. New stores have been opened, but they shroud the decrease in unit profit.

It’s certainly an interesting point, given the stock‘s performance in recent years, and shareholders’ adversity to Biglari’s quest.

Recent earnings
For the recent quarter ended February 1, Cracker Barrel posted a 0.2% increase in comparable store traffic, with a 3.3% increase in same-restaurant sales. This is the fifth consecutive quarter of increased traffic and sales. On an adjusted basis, operating income margin grew by nearly one point, to 8.4%. Adjusted EPS for the quarter came in at $1.43, versus $1.20 in the year-ago quarter. Revenue grew nearly 4.5% to nearly $702.7 million.

The company adjusted its full year 2013 guidance downward to reflect a tepid environment. Annual EPS is now expected to come in the $4.60 to $4.80 range. Last year’s full year EPS was $4.61. Analyst estimates remain at the high end at $4.77 per …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Steven Curtis Chapman's Roots Run Deep at Cracker Barrel Old Country Store®

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By Business Wirevia The Motley Fool

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Steven Curtis Chapman’s Roots Run Deep at Cracker Barrel Old Country Store ®

Brand New Exclusive Album Release, Deep Roots, Now Available

LEBANON, Tenn.–(BUSINESS WIRE)– Five-time GRAMMY® Award-winning singer/songwriter Steven Curtis Chapman shows his roots in faith and family run deep on the latest exclusive CD release from Cracker Barrel Old Country Store®. Deep Roots, a 12-track collection of newly recorded hymns and Chapman’s fan-favorite hits, was recorded in Chapman’s hometown of Lexington, Ky., and features guest vocal appearances from his father, Herb Chapman Sr., brother Herb Chapman Jr., son Caleb Chapman and daughter-in-law, Jillian Edwards Chapman. Bluegrass legend Ricky Skaggs also contributed his stand-out talent on the song “What A Friend We Have In Jesus.” Deep Roots can be purchased now in all Cracker Barrel Old Country Store® locations, as well as crackerbarrel.com, iTunes and Amazon.

Having won 57 Dove Awards and achieved 47 No. 1 hits on Christian radio, Chapman remains one of the most respected and relevant inspirational artists of his time. On Deep Roots, fans have the chance get newly-recorded versions of some of his most renowned music. “Not only does Chapman’s highly-recognized talent and devotion to making a positive impact make for a wonderful partnership with Cracker Barrel, but the music he’s been able to produce sounds outstanding and makes for a fantastic collection of songs we hope folks will enjoy,” says Cracker Barrel Marketing Manager Julie Craig.

“I’m so honored to have three generations of Chapmans and my ‘bluegrass big brother’ Rick Skaggs sing along with me on this recording,” says Chapman. “I had the privilege of playing music with some of the best ‘pickers’ in the world while making the record I’ve always wanted to make, thanks to a collaboration with my friends at Cracker Barrel and plenty of biscuits on hand. As folks listen, I hope they will be inspired by the messages in each song.”

Deep Roots is the latest release from Cracker Barrel Old Country Store®. Since 2005, Cracker Barrel has released albums with a wide variety of artists, some of which have debuted in the top three spots on a range of Billboard magazine’s charts including Top DVD Music Videos, Top Country Albums, Top Christian Albums and Top Bluegrass Albums. In addition, An Evening With … Dolly earned a Recording Industry Association of America (RIAA) Gold award, Dailey & Vincent Sing The Statler Brothers won Album of the Year from the International Bluegrass Music Association (IBMA) – off of which the track “Elizabeth” was …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Tuesday's Top Upgrades (and Downgrades)

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By Rich Smith, The Motley Fool

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This series, brought to you by Yahoo! Finance, looks at which upgrades and downgrades make sense, and which ones investors should act on. Today, our headlines feature downgrades for Texas Roadhouse and Aurizon Mines . But it’s not all bad news, so read on, and find out why one analyst thinks you should…

Fill up on Cracker Barrel
Another day, another higher price target for Cracker Barrel . Last week, we were talking about how the country store-cum-country cookin’ restaurant parlayed an $0.18-per-share “earnings beat” into a new $81 price target at analyst Miller Tabak. Today, analysts at Argus Research are going even further than that — reiterating their buy rating on the stock and predicting that before a year is out, Cracker Barrel shares will be fetching $88 apiece.

Now here’s the problem: I was a bit ambivalent when Miller Tabak endorsed Cracker Barrel last week, because at 15.7 times earnings, but only 10% projected long-term earnings growth, the stock looked overvalued to me. Today, Argus is both arguing for a higher price target ($88 versus $81) and saying Cracker Barrel will get there from a higher starting point (16.3 times earnings versus 15.7).

Needless to say, Argus is setting itself a higher hurdle on this one, and one more difficult to clear. (Worth saying, though, is that investors seem to recognize this, and are currently selling off Cracker Barrel shares despite Argus’s endorsement — a pretty clear case of “sell the news” if I ever saw one.)

My hunch: Cracker Barrel is fairly valued today. Maybe even a bit overvalued. That said, if you’re dead set on owning it, the workaround I described last week is still there for the taking. Biglari Holdings , which owns a 20% stake in Cracker Barrel and sells for a cheaper price-to-free cash flow ratio, with a faster growth rate, offers a compelling way to buy a piece of Cracker Barrel‘s growth without paying the sticker price on Cracker Barrel stock. I like it so much, I own it myself.

Don’t stop at Texas Roadhouse
Continuing today’s comfort-food theme, our second analyst recommendation today concerns Texas Roadhouse. Once again, it’s Miller Tabak stepping up to lend some advice. This time, however, Miller is feeling more cautious, downgrading TR to hold, and recommending investors be more cautious about the stock.

Make no mistake: Miller still likes Texas Roadhouse quite a lot, praising the company for producing above-peer-group same-store sales while also expanding its profit margin. It’s also got a faster growth rate.

On the other hand, though, at 20 times trailing earnings, Texas Roadhouse looks even more expensive than Cracker Barrel. Its dividend is slightly smaller, too — 2.5% versus 2.6%. And most important of all, Texas Roadhouse is currently generating less free cash flow ($61 million) than it reports as net income under GAAP ($71 million). That’s as contrasted with Cracker Barrel, which actually produces slightly more …read more
Source: FULL ARTICLE at DailyFinance