Cracker Barrel Old Country Store, Inc. · NASDAQ:CBRL
Cracker Barrel Old Country Store — Investor Presentation (March 2016)
15 slides from Cracker Barrel Old Country Store's investor presentation, March 2016
Slide 1: Investor Presentation
Investor Presentation March 2016
Slide 2: Safe Harbor statement
Safe Harbor statement Cracker Barrel Old Country Store, Inc. (“the Company”) urges caution in considering current trends and earnings guidance disclosed in this presentation. Except for specific historical information, matters discussed in this presentation are forward-looking statements that involv
Slide 3: The Cracker Barrel brand
The Cracker Barrel brand Founded in 1969 Restaurant and Retail Store 635 stores Breakfast, Lunch, and Dinner 3
Slide 4: Our brand is unique and differentiated
Our brand is unique and differentiated Nostalgic Homemade authenticity Relaxing, fun & family friendly Affordable quality Home away from home Southern country heritage –4
Slide 5: The store experience
The store experience Our typical store… Serves almost 1,000 guests a day Employs over 100 people Open 116 hours a week, 364 days per year Broad menu including breakfast all day and lunch/dinner options after 11:00 am Scratch cooking with fresh ingredients Revenue averages $4.5 million per store 80%
Slide 6: Retail is integral to the Cracker Barrel experience
Retail is integral to the Cracker Barrel experience The experience begins with rockers on the front porch… which are also a top seller The retail shop doubles as a guest waiting area…and produces sales per square foot of approximately $430 and gross margins around 50% Emphasis on nostalgic and uniqu
Slide 7: We believe our enhance, expand, extend strategy will continue to drive shareholder value
We believe our enhance, expand, extend strategy will continue to drive shareholder value An Outstanding An Outstanding Improved Employee Experience Guest Experience Sales & Traffic Increase relevance to drive Continue to refine proven site Build on initial success of traffic and sales in both the se
Slide 8: We have consistently outperformed several benchmarks
We have consistently outperformed several benchmarks Source: Bloomberg as of 31-Jul-2015 Note: 12-Sep-2011 represents the day prior to announcement of Strategic Priorities on 13-Sep-2011. S&P 400 Restaurant Index includes Panera, Buffalo Wild Wings, Cheesecake Factory, Brinker, Cracker Barrel, Jack
Slide 9: 2016 business priorities
2016 business priorities Continue to use seasonal menu promotions to drive frequency Drive traffic and sales through advertising, menu Further expand retail offerings to appeal to a larger 1 strategies, and targeted marketing programs segment of the population and reach new markets Increase number o
Slide 10: Top-line growth
Top-line growth ($billions) ~4% Annual Growth $3.1 $2.7 Annual Growth SSS Traffic flat to 0.5% Pricing 2 to 3% Retail SSS 2 to 3% New Unit Growth ~1.5% FY 2014 FY 2017 10
Slide 11: Targeting 100 bps margin improvement
Targeting 100 bps margin improvement $50 million annually by FY 2017 7.9% ~9.0% FY 2014* Labor Management Utilities Advertising Wage & Benefit FY 2017 Productivity Productivity Pressure Projected We expect a three-year Operating Income/EPS CAGR of 7% - 8% *Adjusted. See GAAP Reconciliation 11
Slide 12: Maintaining a balanced approach to capital allocation
Maintaining a balanced approach to capital allocation ($Millions) ~$850-$900 CapEx Reinvesting in the business $355-$385 Cash Generation Share repurchases (Dilution offset) Return $355 to $385 million to Dividends shareholders FY 2017 FY 2015 Ending Cash Beginning Cash Balance Balance 12
Slide 13: We are committed to shareholder return
–GRITS\04_2014\13_CBRL Investor Day\Presentation Pages\LH dividen slide_Updated Arrows.pptx We are committed to shareholder return Our Board of Directors recently declared a quarterly dividend of $1.10 per share1 Quarterly Dividend per Share Since Announcement of Strategic Priorities2 400% Increase
Slide 14: Positioned for continued success
Positioned for continued success Differentiated brand with a unique mix of restaurant and retail 46-year history of growth and financial success Executing plans for continued margin improvements Balanced approach to capital allocation Continued delivery of strong shareholder returns –14
Slide 15: Reconciliation of as-reported GAAP basis operating results to as-adjusted non-GAAP operating results
Reconciliation of as-reported GAAP basis operating results to as-adjusted non-GAAP operating results Twelve months ended August 1, 2014 As Reported Adjust As Adjusted (1) Total Revenue $ 2,683,677 $ 2,683,677 Store operating income 337,793 - 337,793 General and administrative expenses 129,387 (4,313
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