[Logo of CBRL Group, Inc.] Post Office Box 787
Lebanon, Tennessee
37088-0787
Phone 615.443.9869
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CBRL GROUP, INC.
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Contact: Lawrence E. White
Senior Vice President/
Finance and Chief
Financial Officer
(615) 443-9869
CBRL GROUP, INC. REPORTS SEPTEMBER SALES
LEBANON, Tenn. (September 27, 2005) -- CBRL Group, Inc. (the "Company") (NASDAQ:
CBRL) today reported comparable store sales for the four-week period ending
September 23, 2005.
The Company reported that comparable store restaurant sales for the
four weeks ending Friday, September 23, 2005 in its Cracker Barrel Old Country
Store(R) ("Cracker Barrel") units were down 2.4% from the comparable period last
year, with an approximately 4.3% higher average check, including approximately
4.1% higher menu pricing. Cracker Barrel comparable store retail sales in
September were down 10.7%. Comparable restaurant sales in the Company's Logan's
Roadhouse(R) ("Logan's") restaurants in September were down 1.5%, with an
approximately 2.3% higher average check, including approximately 2.5% higher
menu pricing. The Company believes that gasoline prices, energy cost outlook and
the effects of the two recent hurricanes have had a negative and disruptive
effect on consumer sentiment, and it observed that sales trends in September
were below its previous expectations.
In September, the Company's operations were unfavorably affected by
Hurricanes Katrina and Rita. During September, the Company lost approximately
131 store operating days due to closings for damages and power outages. In
addition, the Company has lost approximately 36 store operating days to date in
fiscal October due to closings related to Hurricane Rita, and five stores remain
closed as of today (three Cracker Barrel and two Logan's locations), including
one Cracker Barrel store that is still closed as a result of Hurricane Katrina.
The Company estimates that comparable store sales were reduced slightly in
September at both Cracker Barrel and Logan's as a result of the net effect of
lost sales from closings and shorter hours and the estimated partial offset from
gains at locations that apparently benefited from evacuation activity. Store
operating days that were lost by Logan's occurred primarily at locations that
are not yet included in the comparable store base. Including the favorable
effect of comparisons to comparable store restaurant sales that were reduced
during September last year by approximately 0.5% at both Cracker Barrel and
Logan's, as previously disclosed, the Company estimated the combined net effect
from hurricanes in both years had a slightly positive impact on comparable
restaurant sales. The estimated combined net effect in both years was more
positive on comparable retail sales at Cracker Barrel since the hurricanes last
year disrupted or postponed porch sale events in certain of the Company's
regions last year. The Company noted that retail sales trends were substantially
affected by lower sales than prior year for certain seasonal product lines,
which may reflect delayed consumer purchases of seasonal items.
Headquartered in Lebanon, Tennessee, CBRL Group, Inc. operates 535
Cracker Barrel Old Country Store restaurants and gift shops located in 41 states
and 128 company-operated and 23 franchised Logan's Roadhouse restaurants in 19
states.
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