Cracker Barrel 2011 Annual Report Download - page 7

Download and view the complete annual report

Please find page 7 of the 2011 Cracker Barrel annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

Cracker Barrel Old Country Store, Inc.
Earnings Per Diluted Share
From Continuing Operations
$4.00
$0
Fiscal Year
$3.00
$3.50
$2.50
$2.00
$1.50
$1.00
$.50
Fiscal 2007 included a 53rd week which contributed an estimated $0.14
to earnings per diluted share
Fiscal 2011 included charges related to organizational changes and new bank facility
which reduced earnings per diluted share by $0.25
(a)
(b)
Cracker Barrel Old Country Store, Inc.
$600
$400
$300
$200
$0
Cumulative Share Repurchases ($ in millions)
20082007 2009 2010 2011
Fiscal Year
$500
Dividends Per Share
$1.20
$1.00
$0.80
$0.60
$0.40
$0.20
$0.00
hCumulative Share Repurchases ($ in millions)
Dividends Per Share
$100
5
B1DUUDWLYHLQGG $0
20092007 (a) 2010 2011 (b)2008
Cumulative Share Repurchase Since FY 2007
While music is not a substantial portion of retail sales,
Cracker Barrel’s exclusive music program provides an
important public relations vehicle leveraging the unique
connection between the artists and their music, our
guests, and our brand.
),.+2%*# 0$! Q1/%*!// + !(
We continued to work on improving the returns on our
new store investment. We increased our new store
openings in 2011 to 11, and we were pleased with their
overall performance. In 2011, we introduced a new store
prototype with 10 percent less square footage in the
building. We opened seven of these smaller units in fiscal
2011, and all 15 of the stores planned for 2012 will
have the smaller building size. We are pleased with the
progress we have made creating a prototype that can
provide superior returns on investment at a range of
expected sales volumes. e store design will continue to
evolve over time as we identify additional opportunities
to reduce investment and enhance margins.
We are also working on a number of initiatives to
reduce costs, especially in the face of
ongoing commodity cost pressures. For example, we plan
to introduce a new labor management system to all
our stores early in fiscal 2012, and we are implementing a
dynamic routing system to lower our retail distribution
costs. Additionally, we have efforts underway focused on
making our stores more energy ecient.
In response to ongoing external challenges, we reduced
approximately 60 management and stapositions in
the Company’s home oce in July. While recognizing the
personal impact of this initiative on those aected,
the Company has moved to a smaller and more ecient
Dividends Per Share and