CBRL - Cracker Barrel stock slips after Q3 results miss estimates Q4 guidance disappoints

Cracker Barrel Old Country Store (NASDAQ:CBRL) stock fell as much as 7.1% to $94.69 in Tuesday morning trade, after the restaurant and gift store chain reported Q3 2022 results that missed expectations.  CBRL posted Q3 non-GAAP EPS of $1.29 which missed estimates by $0.02. Revenue of $790.2M also missed by $3.76M.  "A challenging macro environment, including deteriorating consumer sentiment and high inflationary pressures, impacted both our top and bottom lines in the third quarter," said CBRL CEO Sandra Cochran. However, the company's comparable store restaurant sales increased 10.9% while its comparable store retail sales rose 9.7%. Investors were also disappointed by CBRL's Q4 guidance. The company said it expects operating margins, a key profitability metric for retailers, to be "adversely impacted by commodity, wage, and other operating expenses inflation." "(CBRL) anticipates the near-term consumer environment will remain challenged due to high inflation and lower consumer confidence especially for the age sixty-five-plus consumer group," the

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Cracker Barrel stock slips after Q3 results miss estimates, Q4 guidance disappoints