Costs related to new menu rollout contribute to decline in net income
Cracker Barrel Old Country Store Inc. reported on Wednesday a decline in revenue and income for the 13-week fourth quarter ended Aug. 2 due to one less week in the reporting period than last year. The 624-unit Lebanon, Tenn.-based family-dining and retail chain also said it incurred higher commodity costs, training costs and other expenses related to a new, lower-calorie menu.
Result: $34.3 million, or $1.43 per share
% Decrease: 1.1% (from $34.7 million, or $1.47 per share)
Result: $674.1 million
% Decrease: 3.7% (from $700 million)
% Increase: 2.6%
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