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BigE · #1 (**permalink**) 11-24-2009, 01:59 PM

Cracker Barrel Old Country Store Inc (CBRL) posted quarterly results that topped market expectations, helped by lower food costs, and the restaurant operator raised its fiscal 2010 earnings outlook. The company, which also runs retail stores in its eateries, now sees earnings of $3.05 to $3.30 a share from continuing operations in 2010, up from its prior view of $2.85 to $3.10 a share. It expects 2010 revenue to range from flat to a rise of 2 percent. It earlier forecast a rise between 0.5 percent and 2.5 percent. For the first quarter ended Oct. 30, Cracker Barrel earned $18.0 million, or 78 cents a share, compared with $12.8 million, or 57 cents a share, a year earlier. Analysts on average expected 62 cents a share, before items, according to Thomson Reuters. Shares traded as high as $38.70 on above average trading volume.