Cracker Barrel 2006 Annual Report Download - page 10

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8
few years and, like our restaurant operations, the solu-
tion is complex. We have named a new Vice President
of Innovation, who will lead cross-functional teams
to address our operational initiatives. Speed-of-
service will be addressed in a broad initiative that
includes table configuration, kitchen layout and
systems, delivery and service systems. We will also
have projects that focus on margin improvement.
Our retail store is an integral part of the Cracker
Barrel experience. Retail sales are a very critical
factor in our success, providing a major competitive
advantage and a clear point of differentiation. We
recognize that retail allows us to operate in a truly
unique space within the industry. We are committed
to our goal of increasing the frequency of having our
restaurant guests make a retail purchase and to
growing revenue.
The change in our retail shops is perceptible. Our
retail team has vastly improved our retail assortment
and upgraded the quality of the products. We con-
tinue to introduce products unique to Cracker Barrel,
including our collegiate rockers and a new line of
designer quilts. We have added a Vice President,
General Merchandise Manager and a Vice President of
Retail Planning and Allocation, to ensure that we
have the right merchandise, in the right quantity,
at the right stores, at the right time. We rolled
out a new visual merchandising system to all of the
stores to ensure that we are maximizing visual
appeal and sales per square foot. Our stores once more
feel like the holiday seasons, re-establishing the
emotional attachment of the guest to Cracker Barrel.
We have added products that appeal to the sensory
perceptions of our guests – lots of scents, motion
CBRL Group, Inc. Cash Flow From Operations
$300
$200
$100
$0
$ Millions
2003 2004 2005 2006
Cash Provided by Operations
Cash Used to Purchase Property and Equipment
and Capital Expenditures
2002
Fiscal Year
CBRL Group, Inc. Cumlative Share Repurchases
Share Repurchases (in millions)
$800
$700
$600
$500
$400
$300
$200
$100
$0
Fiscal Year
1999 2000 2001 2002 2003 2004 2005 2006
Cumulative Shares Repurchased (in millions)
50
40
30
20
10
0
Share Repurchases
Cumulative Shares Repurchased