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Stock Market & Financial Investment News

News Breaks
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.”
News For CBRL From The Last 14 Days
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June 29, 2015
18:04 EDTCBRLS&P announces changes to the S&P 400, 600 indices
S&P SmallCap 600 constituent Cracker Barrel Old Country Store (CBRL) will replace Dresser-Rand Group (DRC) in the S&P MidCap 400, and Marten Transport (MRTN) will replace Cracker Barrel Old Country Store in the S&P SmallCap 600 after the close of trading on Wednesday, July 1. Siemens AG (SIEGY) is acquiring Dresser-Rand Group in a deal expected to be completed soon.
17:18 EDTCBRLMarten Transport to replace Cracker Barrel in S&P 600 as of 7/1 close
17:18 EDTCBRLCracker Barrel to replace Dresser-Rand in S&P 400 as of 7/1 close
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June 23, 2015
08:41 EDTCBRLCracker Barrel sees three year operating income/EPS CAGR 7%-8%
Expects to realize $50M of annual cost reductions by FY17. Sees three-year operating income/EPS CAGR of 7%-8%. Targeting 100bps margin improvement by FY17. Says "committed" to shareholder return. Says YTD results are strong, with comparable store traffic increased 1.8%, comparable store restaurant sales increased 5.2% and comparable store retail sales increased 4.5% compared to the prior-year Q3. Says adjusted YTD EPS increased 21% over prior year period. Sees about 4% annual top line growth from FY14-FY17, with annual SSS traffic flat to up 0.5%, retail SSS up 2%-3%, new unit growth about 1.5%. Expects total price increases over the next three years of 2%-3% annually. Comments from slides that will be presented at the Oppenheimer 15th Annual Consumer Conference.
07:15 EDTCBRLOppenheimer to hold a conference
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