CBRL Group sinks in pre-market on lowered fiscal 2008 guidance
CBRL Group Inc. (Nasdaq:CBRL) dropped 14% in pre-market trading on Tuesday after the company announced it had lowered its fiscal 2008 guidance. The company now expects earnings per share between $2.77 and $2.87, down from previous estimates of between $3.02 and $3.12 per share. The Lebanon, Tenn.-based holding company expects revenues to rise 1.5% from continuing operations in 2007. Previously, revenues were expected to increase 2%.
In pre-market trading Tuesday, CBRL Group was at $20.99, down $3.52 from Monday’s close.
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