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CBRL – Top-line trends are stabilizing

CBRL’s July same-store sales were down 1%, driven by a 3.9% increase in average check and a 4.9% traffic decline. On a two-year basis, comparable sales were up 0.3% in July from a slightly negative number in June. Although these results are not good, it does show that top-line trends are stabilizing. Additionally, the company’s full-year same-store sales result of up 0.5% met CBRL’s updated guidance provided in early July.

CBRL’s 4Q comparable sales number of down 0.8% highlights Brinker’s Chili’s outperformance, which reported an acceleration in same-store sales growth trends this morning for 4Q, up 3.4%.