Cracker Barrel Old Country Store (CBRL) AGM 2018 presentation summary

Strategy and guest proposition

• Enhance the core, expand the footprint and extend the brand; hospitality and charm, employee and guest experiences, sales and traffic anchor the roadmap.

• Everyday value remains a differentiator, supported by core and seasonal menu variety.

• Off-premise is a major topline growth opportunity; the program includes to-go and catering.

• Multichannel marketing emphasizes food and value; Daily Delights featured breakfast at $4.99, lunch at $5.99 and dinner at $7.99.

• Music initiatives aim to build awareness and brand impressions; retail merchandise blends novelty and nostalgia with compelling value.

Expansion and brand development

• Opened eight stores in FY18, including the first California location; openings included Victorville, Cold Spring, Ridley, Cranberry, Beaverton, Saraland, Panama City and Jantzen Beach.

• Guests continued to respond favorably to Holler & Dash, with locations listed in Alabama, Florida, Tennessee, Georgia and North Carolina.

Performance and shareholder returns

• Comparable restaurant sales outperformed the restaurant industry from FY12 through FY18, based on the Knapp Track Index comparison.

• Adjusted EPS rose from $4.34 in FY12 to $8.87 in FY18; intervening reported chart values were $4.97, $5.63, $6.82, $7.55 and $8.37 for FY13–FY17.

• Shareholder returns included regular and special dividends and share repurchases; the presentation chart tracks cash returned through FY18.