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Cracker Barrel Updates FY20 Outlook - Quick Facts

While reporting its financial results for the second quarter on Tuesday, Cracker Barrel Old Country Store, Inc. (CBRL) updated its financial outlook for fiscal 2020.

For fiscal 2020, the company now forecasts reported earnings between $8.55 and $8.65 per share, comparable store restaurant sales growth of 2.0 percent to 2.5 percent, and approximately flat comparable store retail sales growth.

The reported earnings outlook includes expected loss from the company's equity method investment in its unconsolidated subsidiary, Punch Bowl Social, resulting in an unfavorable reported earnings per share impact of about $0.80.

It also includes transactional and integration expenses related to the company's acquisition of Maple Street Biscuit Company, which are expected to result in an unfavorable impact to reported earnings per share of about $0.15.

Earlier, the company projected reported earnings for the year between $8.50 and $8.65 per share, and total revenue in a range of $3.15 billion to $3.20 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.41 per share for the year on revenues of $3.18 billion. Analysts' estimates typically exclude special items.

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