Cracker Barrel 2012 Annual Report Download - page 15

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(a) Fiscal 2012 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 2012 results as follows: total revenue, $51,059; store operating income, 0.2% of total revenue ($11,093); operating income, 0.2% of total
revenue ($9,723); net income, 0.2% of total revenue ($6,280); and diluted net income per share, $0.27. As part of our restructuring of our eld
organization in April 2012, we incurred severance charges of $1,660, which are included in general and administrative expenses. We also incurred $5,203 in
costs related to the December 2011 proxy contest, which are also included in general and administrative expenses.
(b) Includes impairment charges of $3,219 before taxes and pre-tax gains on store dispositions of $4,109. Our debt renancing in the fourth quarter of scal
2011 resulted in additional interest expense of $5,136 related to transaction fees and the write-o of deferred nancing costs. During the fourth quarter of
scal 2011, as part of our cost reduction and organization streamlining initiative, we incurred severance charges of $1,768, which are included in
general and administrative expenses. We also incurred $404 in costs related to the December 2011 proxy contest, which are also included in general and
administrative expenses.
(c) Includes impairment charges of $2,672 before taxes.
(d) 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.
(e) Certain expenses and proceeds related to the divestiture of Logan’s Roadhouse, Inc. are reported in discontinued operations in scal 2008 and scal 2009.
(f) In the rst quarter of 2013, our Board of Directors declared a dividend of $0.50 per share payable on November 5, 2012 to shareholders of record on
October 19, 2012.
(g) Average unit volumes include sales of all stores. Fiscal 2012 includes a 53rd week while all other periods presented consist of 52 weeks.
(h) 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 Select Market,
and the dividends paid for the quarters indicated.
Fiscal Year 2012 Fiscal Year 2011
Prices Dividends Prices Dividends
High Low Paid High Low Paid
First $ 45.80 $ 37.31 $ 0.22 $ 54.58 $ 43.65 $ 0.20
Second 53.77 41.08 0.25 57.79 50.27 0.22
ird 59.90 52.02 0.25 53.54 47.01 0.22
Fourth 64.33 56.26 0.25 53.86 42.79 0.22
13
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, the Standard & Poor’s 600
Restaurant Index which we believe is an
adequate peer composite for the Company,
and the prior year 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 assume the reinvestment of dividends.
e data set forth in the graph has been
provided by FactSet Research Systems, Inc.
and Bloomberg LP.
Signicant change om prior year is that Bravo Brio Restaurant Group, Inc., O’Charley’s Inc.,
Dunkin’ Brands Group Inc., McCormick & Schmick’s Seafood Restaurants Inc. and Peet’s Coee
& Tea, Inc. are now excluded om the Peer Composite. Chanticleer Holdings, Inc. and e
Wendy’s Company are now included in the Peer Composite.
2008
2007 2009 2010 2012
$250
$200
$50
$0
2011
Cracker Barrel Old Country Store, Inc. Prior Year Peer Composite
S&P Small Cap
In Dollars
Cracker Barrel Old Country Store, Inc.
Shareholder Return Performance Graph
$150
$100
S&P 600 Restaurant
CRACKER BARREL OLD COUNTRY STORE, INC.