Cracker Barrel Old Country Store Inc (CBRL)

[jimmybob]

Cracker Barrel sees three year operating income/EPS CAGR 7%-8%
Expects to realize $50M of annual cost reductions by FY17. Sees three-year operating income/EPS CAGR of 7%-8%. Targeting 100bps margin improvement by FY17. Says "committed" to shareholder return. Says YTD results are strong, with comparable store traffic increased 1.8%, comparable store restaurant sales increased 5.2% and comparable store retail sales increased 4.5% compared to the prior-year Q3. Says adjusted YTD EPS increased 21% over prior year period. Sees about 4% annual top line growth from FY14-FY17, with annual SSS traffic flat to up 0.5%, retail SSS up 2%-3%, new unit growth about 1.5%. Expects total price increases over the next three years of 2%-3% annually. Comments from slides that will be presented at the Oppenheimer 15th Annual Consumer Conference