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Fly News Breaks for March 21, 2017
CBRL
Mar 21, 2017 | 07:21 EDT
Argus analyst John Staszak downgraded Cracker Barrel to Hold to reflect slowing comp growth and limited upside near-term. Staszak expects customer traffic to remain weak and same-store sales growth to decelerate over the next several quarters. The analyst also said the company maintained FY17 earnings outlook of $8.10-$8.25 on the Q2 report, implying slower earnings growth in 2H 2017, as weak comps and higher labor costs outweigh other cost reductions.
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