Shares of restaurant and gift shop operator Cracker Barrel Old Country Store (NASDAQ:CBRL) are tanking today after its first-quarter numbers failed to cheer investors.
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Revenue rose 7% year-over-year to $839.5 million and was largely in line with estimates. EPS at $0.77, on the other hand, missed the cut by a margin of $0.55.
Further, the company saw a 7.1% year-over-year increase in comparable store sales. For fiscal 2023, CBRL now sees revenue increasing in the range of 6% to 8%. Adjusted operating margin is anticipated in the high 4% range.
Meanwhile, the Street has a Moderate Sell rating on the stock alongside an average price target of $98.75.
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