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Stock Movers Report, your roundup of companies making moves in the stock market. Harnessing the power of Bloomberg Data. Let's take a look at some stocks on the move today.
I'm Tom Keen with Paul Sweeney and Bloomberg's Alexis Gastaffers.
I thought it would be appropriate to start with Cracker Barrel since they're known for their big country breakfasts. We're sort of still in the breakfast time, right, Yep, it's almost nine am, all right, So Cracker Barrel in the news here ticker simple CBRL. It is up fifteen and a half percent, guys this morning. It is up forty three percent year to date. And really, what this story tells us, it's the recovery there at Cracker Barrel continues.
Remember that customer backlash changed its logo, redesigned its restaurants, thought it was going modern, and consumers went, wait a minute, we love you because you're nostalgic and old timy. So they went back, and we're seeing things pick up now. Store traffic it is still falling, but declines have gotten less steep, So I guess that's good. News for the stock, and the chain did raise its full year revenue guidance.
The company has since been focusing on improving its food, its service, and it's also I don't know if you've gone in one recently. I saw pictures of this online. They have this American heritage line for the country's two hundred and fifty your birthday. So I mean everything from you know, T shirts to the salt and pepper shakers, Route sixty six signs or selling like hotcakes.
I haven't looked at a restaurant financial statement in a while. Oh, can we remind ourselves this is a tough business. It's a tough business. You're bringing in a dollar and you're hoping to make three or four cents, yep. And so it's all about volume. And so you've got your core customers make up the backbone of your of your restaurant, and for Crackerbow, the core goers are just okay, that's deep.
We're addicted to Nvidia.
No, I'm addicted to the biscuits and gravy there.
To die for.
But the margins are those restaurants for sure. All right, let's move on to a retailer now, and that would be Chewy the pet supply company, Tom, I think you are a big consumer there for your pets of the Chewy. The stock is down one and a half percent here pre market, and it has been a tough year for Chewy because the stock is down thirty eight percent year to date. Mixed quarterly results from the company, adjusted earnings coming in in line with estimates. Nets sales rose about
eight percent, narrowly beating the street. The company did cut its full year sales outlook maintained its profit outlook. Some are saying that look, the stock could be down even more because Chewy avoided the worst case scenario. A couple of weeks ago, the CEO came out and said, you know, consumers are more stretched than ever entering the new year. So maybe it's a case of it's not great, but it could have been worse.
And the income statement, I got five cents six cents on the dot. What's a tough living? Yeah, I just you know, you do your Chewy probably you know the food, the pads, the Chewy.
Bones out it. Oh yeah, these items yeah.
I mean the Chewy bones are the best.
We's how you know that?
The dollar?
Yeah, that's rough stuff.
Do you have another one I do.
I do so several large trucking companies. I actually have two for one for you here. So I've got FedEx Freight and Old Dominion. They are coming under pressure. Amazon announced an expansion of its shipping service. It is called less than truckload services. That's when you carry shipments that are larger than parcels but smaller than full truckloads. And they're going to expand that business to any kind of destination across the country, from third party warehouses to retail partners.
And that has the transportation industry all in a tizzy. This they first announced this, uh, like a couple of weeks ago. UPS was hurt because of it, third party logistics firms like C. H. Robinson, and now we're seeing FedEx Freight and Old Dominion sell off. By the way, FedEx Freight was spun off from FedEx just a few weeks ago.
I worked on the IPO of Old Dominion Freightlines and nineteen ninety one as a senior banker. How about that. I still may have the model for it, if I can take it down on a floppy disk.
The Stockmovers report from Bloomberg Radio check back with US throughout the day. For the latest roundup of companies making news on Wall Street, and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.