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Fly News Breaks for December 3, 2019
Dec 3, 2019 | 07:45 EDT
Argus analyst John Staszak downgraded Cracker Barrel to Hold from Buy after its Q1 earnings miss and a cut in FY20 guidance reported last week. The analyst expects the company's margins and earnings to come under pressure as comps and new store adds slow. Staszak also warns that rising wages and higher input prices should make it difficult for Cracker Barrel to reduce costs in the near term. The analyst cuts his FY20 and FY21 EPS views by $1.13 and $1.20 to $8.75 and $9.50 respectively.
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