1

Fact BookQ1 FY10

2

Safe-Harbor StatementThe company uses caution in considering its current trends and the earnings disclosed in this Fact Book. The restaurant industry is highly competitive, and trends and guidance are subject to numerous factors and influences, some of which are discussed in the cautionary language other than its periodic filings on Forms 10-K, 10-Q, and 8-K (and any amendments to those forms) filed with the Securities and Exchange Commission (“SEC).Except for specific historical information, many of the matters discussed in this document may express or imply projections of revenues or expenditures, plans and objectives for future operations, growth or initiatives, expected future economic performance, or the expected outcome or impact of pending or threatened litigation. These and similar statements regarding events or results that Cracker Barrel Old Country Store, Inc.. (the “Company”) expects will or may occur in the future, are forward-looking statements that involve risks, uncertainties and other factors which may cause actual results and performance of the Company to differ materially from those expressed or implied by those statements. All forward-looking information is provided pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of these risks, uncertainties and other factors. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “trends,” “assumptions,” “target,” “guidance,” “outlook,” “opportunity”, “future,” “plans,” “goals,” “objectives,” “expectations,” “near-term,” “long-term,” “projection,” “may,” “will,” “would,” “could,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “potential,” “regular,” or “continue” (or the negative or other derivatives of each of these terms) or similar terminology. The Company believes the assumptions underlying these forward-looking statements are reasonable; however, any of the assumptions could be inaccurate, and therefore, actual results may differ materially from those projected in or implied by the forward-looking statements. Factors and risks that may result in actual results differing from this forward-looking information include, but are not limited to, those listed in Part I, Item 1A of the 2009 Annual Report on Form 10-K, as well as other factors including, without limitation, the factors described under “Critical Accounting Estimates” in that portion of the 2009 Annual Report that is incorporated by reference into Part II, Item 7 or, from time to time, in the Company’s filings with the SEC, press releases and other communications.Readers are cautioned not to place undue reliance on forward-looking statements made in this document, since the statements speak only as of the document’s date.  The Company has no obligation, and does not intend, to publicly update or revise any of these forward-looking statements to reflect events or circumstances occurring after the date of this document or to reflect the occurrence of unanticipated events.  Readers are advised, however, to consult any future public disclosures the Company may make on subjects related to those discussed in this document.

3

Corporate ProfileCorporate ProfileThe principal activity of Cracker Barrel Old Country Store, Inc. (“Cracker Barrel,” “our,” and “we”) (Nasdaq: CBRL) is to operate and develop the Cracker Barrel Old Country Store® restaurant and retail concept. Cracker Barrel operates more than 590 Cracker Barrel Old Country Store restaurants and gift shops located in 41 states. The restaurants serve breakfast, lunch and dinner. The retail area offers a variety of decorative and functional items specializing in rocking chairs, gifts, toys, apparel and foods.

The Cracker Barrel BrandIn 1969, Cracker Barrel’s founder, Dan Evins, recognized the potential to offer interstate highway travelers quality food, service and value consistently and conveniently by focusing on a mission of “pleasing people.” The initial success of the concept drove continued expansion along the interstate system, and today Cracker Barrel has evolved into an indelible part of the automotive travel experience. It is now one of the leading and most highly differentiated restaurant chains in the United States. Cracker Barrel welcomes 7,000 people each week in each restaurant, serving meals for three day-parts and offering breakfast all day through its more than 590 stores. Each location also has one of our unique retail shops that generated in fiscal 2009 an average of more than $800,000 in retail sales, or $401 per square foot of retail selling space, driven primarily by the high level of restaurant guest traffic.

Cracker Barrel is a recognized guest favorite, having been named “Best in Family Dining” by Restaurants and Institutions magazine’s “Choice in Chains” consumer survey for the 19th consecutive year. The Good Sam Club named Cracker Barrel “the Most RV Friendly Sit-Down Restaurant in America” for the 8th year in a row.

4

Awards & Accolades

Restaurants and Institutions “Choice in Chains” Best Family Dining Restaurant – 19 yearrs

The Good Sam Club Welcome Mat Award for the Most RV-Friendly Sit Down Restaurant in America – 8 years

5

Fun Facts1. How many CDs have Cracker Barrel Old

Country Store® retail shops sold?2. What is the best selling retail product?3. How many miles of thin stick candy do we

sell every year?4. How many did we serve last year--

approximately?Bacon?

• 72 million slices• 102 million slices • 122 million slices

Eggs?• 111 million • 151 million• 181 million

Chicken ‘N” Dumplins?• 6 million• 11 million• 17 million

5. How many biscuits do we sell everyday?6. How much pancake mix did we sell?7. What percentage of our locations are on

the interstate?

6

Answers

1. Over 3 million CDs sold 2. Rockers— 140,000 in fiscal

20093. If laid end-to-end, the thin

sticks would stretch 940 miles.

4. 122 million slices of bacon; 151 million eggs, and 11 million orders of Chicken N’ Dumplins

5. Over 750,000 biscuits each day

6. We sold enough pancake mix to make 8.7 million pancakes—a stack 34 miles high.

7. 85 percent of our locations are on the interstate

7

Our Vision To be the best

restaurant company

in AmericaOur Mission

Pleasing People

8

Our Familiar Brand Crosses the Nation with

593 Restaurants in 41 States

= areas under development

31

51

3

22 27

30

222811

9

7

417

4 1030

1621

413 11 5

8

4

2

6

2

2

1

3550

59

42

42

4

11

11

1

As of Nov. 2, 2009As of Nov. 2, 2009

9

Local60%

Local60%

Travelers40%

Travelers40%

We serve multi-generation families--Travelers and

neighbors alike™

Source: 2008 Full Service Restaurant National Awareness & Usage Survey conducted by Marketing Workshop and 2008 Guest Loyalty Program conducted by Service Management Group

18-3411%

65+32%

50-6433%

35-4924% Our mix of age groupsOur mix of age groups

Our mix of travelers and neighborsOur mix of travelers and neighbors

10

Average Check Increase

1.4%

3.4% 2.9%2.0%

FY07 FY08 FY09 Q110

23%

39%

38%

Breakfast

Opportunities in all 3 day-parts

Lunch

Dinner$8.31$8.31

$8.59$8.59

$8.84$8.84

$8.94$8.94

11

-8%

-6%

-4%

-2%

0%

2%Q107 Q307 Q108 Q308 Q109 Q309 Q110

% Change over Prior Year

Power of the Brand Strong Performance in

Challenging EnvironmentCracker Barrel vs. Knapp-Track™ Traffic

* Quarterly Knapp-Track traffic figure is an approximation based on the 13-week average

CBOCS Traffic

K-T Traffic*

12

Retail Sales

22.6%

21.6%

20.8%

21.5%21.2%

20%

21%

22%

23%

24%

2005 2006 2007 2008 2009Fiscal Year

Retai

l % to

Total

-10%

-8%

-6%

-4%

-2%

0%

2%

4%

Retai

l SSS

Cha

nge

Retail % To Total Comp Store Retail Sales Changes

13

Consolidated Financial Highlights-Continuing Operations

Net Sales

$1,697 $1,748 $1,845 $1,872 $1,876

$494 $471$507 $512 $492

$0

$500

$1,000

$1,500

$2,000

$2,500

FY05 FY06 FY07 FY08 FY09Restaurant Retail

$2,367$2,367

$2,191$2,191 $2,219

$2,219 $2,352*$2,352*

EPS from Continuing Operations

2.89$2.79

$2.04$2.07

$2.52*

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

FY05 FY06 FY07 FY08 FY09

$ in

mill

ions

$ in

mill

ions

* Includes $46 million sales from 53rd week* Includes $46 million sales from 53rd week

•Includes $0.14 per share from 53rd week•Includes $0.14 per share from 53rd week

$2,385$2,385

14

Consolidated Financial Highlights--

Continuing OperationsI ncome From Continuing Operations

$9$22

$59$66

$105$95

$76*$65

$52$57

$0

$20

$40

$60

$80

$100

$120

FY05 FY06 FY07 FY08 FY09

Income from continuing ops.Pretax Interest Expense

Average Shares Outstanding

22.522.8

27.6

42.947.8

53.4

23.4

31.8

48.0

22.8

0

10

20

30

40

50

60

FY05 FY06 FY07 FY08 FY09

Basic Diluted

Mill

ion s

hare

sM

illio

n s

hare

s

$ in m

illio

ns

$ in m

illio

ns

* Includes $4 million from 53rd week* Includes $4 million from 53rd week

15

$230

$175

$125

$23 $24

$16 $16 $18

$164

$97

$88

$68

$97

$125

$90

$0

$50

$100

$150

$200

$250

FY05 FY06 FY07 FY08 FY09

$ in

Millio

ns

Free Cash Flow*

•Free Cash Flow is a non-GAAP financial measure derived from indicated GAAP components found on Statement of Cash Flow

Net cash provided by operating activities

Cash used to purchase property and equipment

Cash used for dividends

Includes $94 millionof cash used on Logan’s

disposition & taxes/expensesfor LYONs redemption

16

Quarterly Results—FY2007

($ in 000s) Q1 FY 07 Q2 FY 07 Q3 FY 07 Q4 FY 07 FY 2007Net sales:

Restaurant $442,327 $447,782 $444,923 $509,772 $1,844,804Retail 115,936 164,352 104,127 122,357 506,772

Total revenue 558,263$ 612,134$ 549,050$ 632,129$ 2,351,576$

Cost of goods sold 172,856 210,352 167,928 193,139 744,275Gross Profit 385,407 401,782 381,122 438,990 1,607,301Labor and related expenses 212,174 219,594 219,012 242,059 892,839 Other operating expenses 97,722 105,932 100,511 105,966 410,131 Impairment & store closing costs - - - - -

Store operating income 75,511 76,256 61,599 90,965 304,331General & administrative 37,260 34,022 31,536 33,368 136,186

Operating income 38,251 42,234 30,063 57,597 168,145Interest expense 15,177 14,609 13,801 15,851 59,438Interest income 598 3,857 2,199 1,120 7,774Income before income taxes 23,672 31,482 18,461 42,866 116,481Income taxes 8,510 10,981 6,350 14,657 40,498Income from continuing operations 15,162 20,501 12,111 28,209 75,983(Loss)Income from discontinued operations4,265 82,011 214 (408) 86,082Net income $19,427 $102,512 $12,325 $27,801 $162,065

Earnings per share - BasicIncome from continuing operations 0.49$ 0.66$ 0.48$ 1.18$ 2.75$ Income from discontinued operations 0.14$ 2.66$ 0.01$ (0.02)$ 3.11$

0.63$ 3.32$ 0.49$ 1.16$ 5.86$ Earnings per share - DilutedIncome from continuing operations 0.45$ 0.60$ 0.44$ 1.15$ 2.52$ Income from discontinued operations 0.12$ 2.28$ 0.01$ (0.02)$ 2.71$

0.57$ 2.88$ 0.45$ 1.13$ 5.23$ Weighted average shares - basic 30,997 30,839 24,984 24,030 27,643Weighted average shares - diluted 36,012 36,016 30,183 25,058 31,757

Restaurant % of total sales 79.2% 73.2% 81.0% 80.6% 78.4%Retail % of total sales 20.8% 26.8% 19.0% 19.4% 21.6%Cost of goods sold 31.0% 34.4% 30.6% 30.6% 31.7%

Gross profit 69.0% 65.6% 69.4% 69.4% 68.3%Labor and other related expenses 38.0% 35.9% 39.9% 38.3% 38.0%Other store operating expenses 17.5% 17.3% 18.3% 16.8% 17.4%Impairment and store closing charges 0.0% 0.0% 0.0% 0.0% 0.0%

Store operating income 13.5% 12.5% 11.2% 14.4% 12.9%General and administrative expense 6.7% 5.6% 5.7% 5.3% 5.8%

Operating income 6.9% 6.9% 5.5% 9.1% 7.2%

Consolidated Income Statement

17

($ in 000s) Q1FY08 Q2FY08 Q3FY08 Q4FY08 FY 2008Net sales:

Restaurant $462,753 $465,105 $460,406 483,888$ $1,872,152Retail 118,412 169,348 106,732 117,877 512,369

Total revenue 581,165$ 634,453$ 567,138$ 601,765$ 2,384,521$

Cost of goods sold 180,228 223,735 180,588 189,206 773,757

Gross Profit 400,937 410,718 386,550 412,559 1,610,764

Labor and related expenses 225,668 229,133 226,851 227,894 909,546 Other operating expenses 105,220 106,473 103,157 107,443 422,293 Impairment & store closing costs 809 68 - - 877

Store operating income 69,240 75,044 56,542 77,222 278,048

General & administrative 33,218 29,623 28,800 35,632 127,273

Operating income 36,022 45,421 27,742 41,590 150,775

Interest expense 14,909 14,454 14,215 13,867 57,445 Interest income 57 128 - 0 185

Income before income taxes 21,170 31,095 13,527 27,723 93,515

Income taxes 7,187 10,861 3,048 7,116 28,212

Income from continuing operations 13,983 20,234 10,479 20,607 65,303(Loss)Income from discontinued operations (94) (17) (35) 396 250

Net income $13,889 $20,217 $10,444 $21,003 $65,553

Earnings per share - BasicIncome from continuing operations 0.59$ 0.87$ 0.47$ 0.93$ 2.87 Income from discontinued operations (0.00)$ (0.00)$ (0.00)$ 0.02$ 0.01

0.59$ 0.87$ 0.47$ 0.95$ 2.88 Earnings per share - DilutedIncome from continuing operations 0.57$ 0.85$ 0.46$ 0.91$ 2.79$ Income from discontinued operations (0.00)$ (0.00)$ (0.00)$ 0.02$ 0.01$

0.57$ 0.85$ 0.46$ 0.93$ 2.80$

Weighted average shares - basic 23,706 23,133 22,141 22,151 22,783 Weighted average shares - diluted 24,445 23,758 22,812 22,608 23,406

Restaurant % of total sales 79.6% 73.3% 81.2% 80.4% 78.5%Retail % of total sales 20.4% 26.7% 18.8% 19.6% 21.5%Cost of goods sold 31.0% 35.3% 31.8% 31.4% 32.4%

Gross profit 69.0% 64.7% 68.2% 68.6% 67.6%Labor and other related expenses 38.8% 36.1% 40.0% 37.9% 38.1%Other store operating expenses 18.1% 16.8% 18.2% 17.9% 17.7%Impairment and store closing charges 0.1% 0.0% 0.0% 0.0% 0.0%

Store operating income 11.9% 11.8% 10.0% 12.8% 11.7%General and administrative expense 5.7% 4.7% 5.1% 5.9% 5.3%

Operating income 6.2% 7.2% 4.9% 6.9% 6.3%

Consolidated Income Statement

Quarterly Results—FY2008

18

Quarterly Results –FY2009($ in 000s) Q1FY09 Q2FY09 Q3FY09 Q4FY09 FY09Net sales:

Restaurant $455,967 $468,919 $466,562 $484,240 $1,875,688Retail 117,965 161,263 101,006 111,363 491,597

Total revenue 573,932$ 630,182$ 567,568$ 595,603$ 2,367,285$ Cost of goods sold 181,357 222,493 176,327 184,732 764,909

Gross Profit 392,575 407,689 391,241 410,871 1,602,376Labor and related expenses 222,433 234,118 230,014 229,691 916,256 Other operating expenses 105,966 105,740 104,235 105,653 421,594 Impairment & store closing costs - - - 2,088 2,088

Store operating income 64,176 67,831 56,992 73,439 262,438General & administrative 31,618 28,558 27,979 32,044 120,199

Operating income 32,558 39,273 29,013 41,395 142,239Interest expense 14,033 13,281 12,737 12,126 52,177 Interest income 0 0 0 0 -

Income before income taxes 18,525 25,992 16,276 29,269 90,062Income taxes 5,693 7,630 4,328 6,454 24,105

Income from continuing operations 12,832 18,362 11,948 22,815 65,957(Loss)Income from discontinued operations 0 0 0 (35) (35)

Net income $12,832 $18,362 $11,948 $22,780 $65,922

Earnings per share - BasicIncome from continuing operations 0.57$ 0.82$ 0.53$ 1.01$ 2.94 Income from discontinued operations -$ -$ -$ (0.00)$ (0.00)

0.57$ 0.82$ 0.53$ 1.01$ 2.94 Earnings per share - DilutedIncome from continuing operations 0.57$ 0.81$ 0.52$ 0.99$ 2.89$ Income from discontinued operations -$ -$ -$ (0.00)$ (0.00)$

0.57$ 0.81$ 0.52$ 0.99$ 2.89$ Weighted average shares - basic 22,350 22,390 22,467 22,629 22,459 Weighted average shares - diluted 22,666 22,597 22,831 23,056 22,788

Restaurant % of total sales 79.4% 74.4% 82.2% 81.3% 79.2%Retail % of total sales 20.6% 25.6% 17.8% 18.7% 20.8%Cost of goods sold 31.6% 35.3% 31.1% 31.0% 32.3%

Gross profit 68.4% 64.7% 68.9% 69.0% 67.7%Labor and other related expenses 38.8% 37.2% 40.5% 38.6% 38.7%Other store operating expenses 18.5% 16.8% 18.4% 17.7% 17.8%Impairment and store closing charges 0.0% 0.0% 0.0% 0.4% 0.1%

Store operating income 11.2% 10.8% 10.0% 12.3% 11.1%General and administrative expense 5.5% 4.5% 4.9% 5.4% 5.1%

Operating income 5.7% 6.2% 5.1% 7.0% 6.0%

19

Quarterly Results –FY2010($ in 000s) Q1FY10Net sales:

Restaurant $466,832Retail 114,351

Total revenue 581,183$

Cost of goods sold 177,471Gross Profit 403,712

Labor and related expenses 224,760 Other operating expenses 105,466 Impairment & store closing costs -

Store operating income 73,486

General & administrative 35,501

Operating income 37,985

Interest expense 11,770Interest income 0Income before income taxes 26,215

Income taxes 8,191

Net income $18,024

Earnings per share - BasicNet income per share 0.79$

Earnings per share - DilutedNet income per diluted share 0.78$

Weighted average shares - basic 22,762Weighted average shares - diluted 23,136

Restaurant % of total sales 80.3%Retail % of total sales 19.7%Cost of goods sold 30.5%

Gross profit 69.5%Labor and other related expenses 38.7%Other store operating expenses 18.1%Impairment and store closing charges 0.0%

Store operating income 12.6%General and administrative expense 6.1%

Operating income 6.5%Tax rate 31.2%

20

• Store size: 10,000 sq. ft on approximately 2.5 acres of land

• Seats per restaurant: 200• Average number of employees/store: 103• Average unit volume: $3.21 million• Average weekly traffic: 7,000• Average check: $8.84, up 2.9%• Meal mix

–Breakfast—23%–Lunch--38%–Dinner—39%

• Commodity breakdown in FY09–Dairy and Eggs 14%–Beef 12%–Poultry 11–Pork 10 –Seafood 7–Grain-based products 7

• Leased vs owned: 399 locations owned, 67.5%

• % on-interstate vs off: 15.4% off-interstate– 85% off-interstate locations planned in

FY10• Hourly turnover: <80%

• Store size: 10,000 sq. ft on approximately 2.5 acres of land

• Seats per restaurant: 200• Average number of employees/store: 103• Average unit volume: $3.21 million• Average weekly traffic: 7,000• Average check: $8.84, up 2.9%• Meal mix

–Breakfast—23%–Lunch--38%–Dinner—39%

• Commodity breakdown in FY09–Dairy and Eggs 14%–Beef 12%–Poultry 11–Pork 10 –Seafood 7–Grain-based products 7

• Leased vs owned: 399 locations owned, 67.5%

• % on-interstate vs off: 15.4% off-interstate– 85% off-interstate locations planned in

FY10• Hourly turnover: <80%

Restaurant Facts

21

• Size of retail– 20.8% of sales– 22% of square feet

• $401/sq. ft.• Average unit volume: $.84 million• Sales categories

– Apparel: 20%– Food: 18%– Seasonal: 16%– Home: 16%– Toys: 13%

• 31% of customers purchase retail• Second quarter highest retail sales due to

Christmas holiday shopping

Retail Facts

22

995-1095

595588577

562543529

300

400

500

600

700

800

900

1000

1100

1200

FY05 FY06 FY07 FY08 FY09 FY10Planned

Possible

Unit Growth

UnitsUnits

23

Fiscal 2010 Outlook(As of November 24, 2009 Press Release)

• Comparable store restaurant sales growth: (0.5)% to 1.0%

• Comparable store retail sales growth: (2.0)% to 0%

• 7 new stores opened in FY10• Revenue growth: 0% to 2.0% • Commodity cost inflation: (1-2)%

– 70% of products contracted through remainder of FY10

• Depreciation: $60 to $62 million • Operating margin: 6.2% to 6.5%

compared with 6.0% in FY09• Net interest expense: $48 to $50

million• Annual effective tax rate: 27.5% to

28.5%• Diluted EPS: $3.05 to $3.30• Diluted shares: 23 million• Capital expenditures: $70 to $75

million