Cracker Barrel Old Country Store, Inc. (CBRL)= itchin' to move big time. Earn out quite soon!
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
160.90+0.53 (+0.33%)
At close: 4:00PM EDT
162.99 +2.09 (1.30%)
CBRL will be interesting. On one hand its gonna be busy as all get out this summer as folks hit the road, but on the other hand, rising food and labor costs may force them to taper their outlook.
Personally, I look at the announcement that they will start selling alcohol as a canary in the coal mine in a way. They must need the higher margin sales. It's a family restaurant for god sake,
next to interstates! I mean come on, none of the big chain interstate plays like Pilot or Flying J sell beer. For a good reason.
"Hey lets go toss back a few over a breakfast of biscuits and gravy at the Cracker Barrel on our way down to Disney. Mom... you got the keys."
Stupid.
Verdicts out on this one. Historically it sells off on earnings, and when it doesn't there's a substantial increase in volume leading up to the report.
Where's the growth btw? How many new stores? Net margins sucked before our "transitory" inflation, how will they look going forward?
Organic comps will come in strong I suspect... but I have a feeling this one might have a few fleas somewhere that the analysts won't like. Of course digital sales will come in off the charts. That's always good for a pre-market pop, but those digital sales don't help sell all the square footage of useless junk trinkets they sell however. Wasted space and overhead in the digital world imo.
It should have run some more by now, albeit a nice (dead cat?) bounce off $150.
Options show about a 7% straddle.
Granny says... "Don't touch it... Something's rotten in Lebanon. Cracker Barrel selling booze is like Chik-Fil-A selling booze".

***** If they were smart though, they'd announce a partnership with Blink and start installing EV chargers. 