Profile: Cracker Barrel Old Country Store Inc (CBRL.OQ)
7 Mar 2014
Cracker Barrel Old Country Store, Inc. is principally engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). As of September 18, 2012, the Company operated 620 stores in 42 states. None of its stores is franchised. The Company’s restaurants, which generated approximately 80% of its total revenue during the fiscal year ended August 31, 2011 (fiscal 2012) offers home-style country cooking featuring many of its own recipes. The Company’s restaurants do not serve alcoholic beverages. Breakfast items can be ordered at any time throughout the day and include juices, eggs, pancakes, bacon, country ham, sausage, grits, and a variety of biscuit specialties, such as gravy and biscuits and country ham and biscuits. Lunch and dinner items include country ham, chicken and dumplings, chicken fried chicken, meatloaf, country fried steak, pork chops, fish, steak, roast beef, vegetable plates, salads, sandwiches, soups and specialty items, such as pinto beans and turnip greens. On December 31, 2011, Cracker Barrel Old Country Store, Inc., merged with CBOCS, Inc.
The Company, from time to time feature items as off-menu specials or in test menus at certain locations. The Company offers weekday lunch specials, which include some of its favorite entrees in lunch-sized portions. The Company’s menu also has daily dinner features that showcase a dinner entree for each day of the week. There is some variation in menu pricing and content in different regions of the country for both breakfast and lunch/dinner. The Company also offers items for sale in its gift shops that are featured on, or related to, the restaurant menu, such as pies, cornbread mix, coffee, syrups and pancake mixes. Its gift shops offers a variety of decorative and functional items, such as rocking chairs, seasonal gifts, apparel, toys, music compact discs (CD’s), cookware, old-fashioned-looking ceramics, figurines, a book-on-audio sale-and-exchange program and various other gift items, as well as various candies, preserves and other food items.
The Company’s gift shop features approximately 3,600 stock keeping units. Many of the food items are sold under the Cracker Barrel Old Country Store brand name. The Company served an average of approximately 6,700 restaurant guests per week in a typical store during fiscal 2012. The Company’s stores are located primarily along interstate highways; however, as of September 18, 2012, 99 (or approximately 16%) of its stores are located near tourist destinations or are considered off-interstate stores. Of the 620 stores open as of September 18, 2012, it owned the land and buildings for 409, while the other 211 properties are either ground leases or ground and building leases. The Company’s store prototype is approximately 8,900 square feet, including approximately 2,100 square feet of retail selling space and has dining room seating for 177 guests. Its capital investment in new stores may differ in the future due to building design specifications, site location and site characteristics.
Cracker Barrel Old Country Store Inc
305 Hartmann Drive,
PO Box 787
LEBANON TN 37088-0787