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Stock Market & Financial Investment News

News Breaks
November 29, 2012
11:29 EDTCBRLCracker Barrel says expects to open 9-11 new stores in FY13
Says sees increases in food commodity costs on a constant mix basis of 5%-6% for FY13 with the most significant increases in the latter half of the year and in beef, chicken and eggs. Says has locked in pricing on 58% of commodity requirements for remaining three quarters in FY13. Sees FY adjusted operating margin 7.3%-7.5% of revenues, effective tax rate 32%-33%, CapEx $90M-$100M.
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April 17, 2014
09:55 EDTCBRLCracker Barrel to host special shareholder meeting
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April 14, 2014
11:05 EDTCBRLCracker Barrel says proxy advisors recommend voting against Biglari proposals
Earlier today, Cracker Barrel Old Country Store announced that Institutional Shareholder Services, ISS, Glass, Lewis and Egan-Jones Proxy Services have unanimously recommended that Cracker Barrel shareholders vote AGAINST the non-binding advisory proposals publicly made by Biglari Capital and its affiliates requesting Cracker Barrel’s Board to immediately pursue all potential extraordinary transactions, including the sale of the company, and take any action necessary to amend the Tennessee Business Corporation Act to permit Biglari Capital to engage in an extraordinary transaction with the company. In recommending shareholders vote AGAINST the non-binding advisory proposals, all three advisory firms voiced their support for Cracker Barrel’s current strategy and agreed that seeking an immediate sale of the company is not in the best interests of the company's shareholders in light of current market conditions and the company's sustained strong performance. Commenting on the endorsement for the current strategy, Sandra B. Cochran, Cracker Barrel's President and CEO, stated: “We are extremely pleased that ISS, Glass Lewis and Egan-Jones continue to support our current strategy and agree with our recommendation that our shareholders vote AGAINST both of the proposals. We continue to believe that execution of the current operational and strategic plan remains the best means for creating long-term value for all of our shareholders.”

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