Cracker Barrel 2010 Annual Report Download - page 23

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COMPABLE STORE SALESl:
Period to period increase
(decrease) in comparable store sales:
Cracker Barrel restaurant 0.8% (1.7)% 0.5% 0.7% (1.1)%
Cracker Barrel retail (0.9) (5.9) (0.3) 3.2 (8.1)
Memo: Number of Cracker Barrel stores
in comparable base 569 550 531 507 482
(a) Includes charges of $2,800 before taxes for impairment and store closing charges om continuing operations.
(b) Includes impairment charges of $2,088 before taxes. We completed sale-leaseback transactions involving 15 of our stores and our retail distribution center
in the fourth quarter of scal 2009 (see Note 10 to the Consolidated Financial Statements). Net proceeds om the sale-leaseback transactions together with
excess cash ow om operations were used to pay down $142,759 of long-term debt.
(c) Logan’s Roadhouse, Inc. was divested in scal 2007 and is presented as a discontinued operation.
(d) Includes charges of $877 before taxes for impairment and store closing charges om continuing operations.
(e) Fiscal 2007 consisted of 53 weeks while all other periods presented consisted of 52 weeks. e estimated impact of the additional week was to increase
consolidated scal 2007 results as follows: total revenue, $46,283; store operating income, 0.1% of total revenue; operating income, 0.2% of total revenue;
income om continuing operations, 0.1% of total revenue; and diluted income om continuing operations per share, $0.14.
(f) We repurchased 8,774,430 common shares and redeemed our zero-coupon convertible notes.
(g) Includes charges of $5,369 before taxes for impairment and store closing charges om continuing operations. We repurchased 16,750,000 common shares.
(h) On September 23, 2010, our Board of Directors declared a dividend of $0.22 per share payable on November 5, 2010 to shareholders of record on
October 15, 2010.
(i) Working capital (decit) excludes discontinued operations.
(j) e increase in other long-term obligations in scal 2008 as compared to prior years is primarily due to the adoption of accounting guidance for uncertain
tax positions. e liability for uncertain tax positions is included in other long-term obligations beginning in scal 2008; in prior years, the liability was
included in income taxes payable as a current liability.
(k) Average unit volumes include sales of all stores. Fiscal 2007 includes a 53rd week while all other periods presented consist of 52 weeks.
(l) Comparable store sales consist of sales of stores open at least six full quarters at the beginning of the year; and are measured on comparable calendar weeks.
MARKET PRICE AND DIVIDEND INFORMATION
e following table indicates the high and low sales prices of our common stock, as reported by e Nasdaq Global Market, and
dividends paid for the quarters indicated.
Fiscal Year 2010 Fiscal Year 2009
Prices Dividends Prices Dividends
High Low Paid High Low Paid
First $ 36.90 $ 25.67 $ 0.20 $ 30.35 $ 15.26 $ 0.18
Second 41.57 32.07 0.20 22.29 10.67 0.20
ird 53.43 36.18 0.20 35.18 17.11 0.20
Fourth 52.60 45.26 0.20 34.27 25.39 0.20
Signicant change om prior year is that Western Sizzlin Corp. is now excluded in the Peer Composite.
e graph, le, shows the changes over the
past ve-year period, in the value of $100
invested in Cracker Barrel Old Country Store,
Inc. Common Stock, the Standard & Poor’s
Small Cap Index, and the Peer Composite
composed of all companies listed with Nasdaq
with the same two-digit SIC (Standard
Industrial Classication) code (58-Eating
and Drinking Places) as Cracker Barrel
Old Country Store, Inc. e ploed points
represent the closing price on the last day of
the scal year indicated and the reinvestment
of dividends. e data set forth in the graph
has been provided by FactSet Research
Systems, Inc.
2006
2005 2007 2008 2010
$150
$100
$50
$0
2009
Cracker Barrel Old Country Store, Inc. Peer Composite S&P Small Cap
In Dollars
Cracker Barrel Old Country Store, Inc.
Shareholder Return Performance Graph
21
CRACKER BARREL OLD COUNTRY STORE, INC.