CRACKER BARREL OLD COUNTRY STORE, INC. ANNOUNCES ANNOUNCES FISCAL YEAR-END RESULTS.

LEBANON, Tenn.--(BUSINESS WIRE)--Sept. 11, 1996--Cracker Barrel Old Country Store, Inc. (Nasdaq:NM/CBRL) today announced results for its fiscal year ended August 2, 1996.

Net sales for fiscal 1996 were $943.3 million compared with net sales of $783.1 million in fiscal 1995. Pre-tax income before taking a one-time, pre-tax charge of $14.2 million was $116.6 million compared with $105.3 million last year. Net income before taking a one-time, after-tax charge of $8.8 million, or $0.15 per share, was $72.3 million, or $1.19 per share, compared with $66.0 million, or $1.09 per share, last year. The previously announced one-time charge covers the expense of closing three Cracker Barrel stores; costs associated with replacing the Company's point-of-sale system; and costs associated with closing its three Cracker Barrel Old Country Store Corner Markets.

Net sales for the fourth quarter ended August 2, 1996, were $282.2 million compared with net sales of $221.2 million in the fourth quarter last year. Pre-tax income before the one-time charge was $43.1 million compared with $37.0 million in the year-earlier period. Net income before the one-time charge was $26.7 million, or $0.44 per share, compared with $23.1 million, or $0.38 per share, a year ago.

Commenting on the results, Dan W. Evins, chairman and chief executive officer, said, "Comparable 52-week same store restaurant sales for fiscal 1996 increased 1.8%, and same store retail sales increased 1.6% for a combined increase of 1.7%. The balance of the sales increase was attributable to new stores opened during the year. In the fourth quarter of fiscal 1996, comparable 13-week same store restaurant sales increased 1.9%, and same store retail sales were up 7.3%, for a combined increase of 3.1%.

"In fiscal 1996, we opened 43 new Cracker Barrel stores bringing the total open at year end to 257 (net of the three subsequent closings). Our plan is to open 50 new Cracker Barrel stores in fiscal 1997 which will bring the total number to 307 at the end of the year. Our strategy for the future is to continue our focus on delivering the quality and value our customers have come to expect from Cracker Barrel. We believe Cracker Barrel is well positioned to achieve growth in the future."

Cracker Barrel Old Country Store, Inc. operates restaurants located in Tennessee, Georgia, Indiana, Kentucky, Florida, North Carolina, Ohio, Illinois, South Carolina, Alabama, Virginia, Missouri, Michigan, Mississippi, West Virginia, Wisconsin, Louisiana, Texas, Iowa, Oklahoma, Minnesota, Pennsylvania, Kansas, Colorado, Maryland, New Mexico, Arizona and Arkansas. -0-

                CRACKER BARREL OLD COUNTRY STORE, INC.
                    Income Statements (Unaudited)
                   (In 000's, except share amounts)

                Fourth Quarter Ended  %     Fiscal Year Ended    %
Net sales:       08/02/96 07/29/95  Change  08/02/96 07/29/95  Change

 Restaurant      $220,269 $174,528    26%   $734,159 $609,841    20%
 Gift shop         61,945   46,689    33     209,128  173,253    21
  Total sales     282,214  221,217    28     943,287  783,094    20

Cost of goods
 sold              96,657   74,440    30     324,905  264,810    23
Gross profit      185,557  146,777    26     618,382  518,284    19

Labor & other
 related
 expenses          93,320   70,156    33     314,157  256,254    23
Other store
 operating
 expenses (1)      52,517   29,820    76     152,900  114,564    33

General and
 administrative    11,104   10,657     4      50,627   44,746    13
  Total expenses  156,941  110,633    42     517,684  415,564    25

Operating income   28,616   36,144   (21)    100,698  102,720    (2)
Interest expense      101        0   100         369      723   (49)
Interest income       349      859   (59)      2,051    3,335   (39)

Pretax income      28,864   37,003   (22)    102,380  105,332    (3)
Provision for
 income taxes (1)  10,929   13,939   (22)     38,865   39,289    (1)

Net income       $ 17,935 $ 23,064   (22)   $ 63,515 $ 66,043    (4)
Earnings per
 share           $   0.29 $   0.38   (24)   $   1.04 $   1.09    (5)
Weighted average
 shares            61,120   60,599     1      60,813   60,557    --

Ratio Analysis
Net sales:
 Restaurant          78.1%    78.9%             77.8%   77.9%
 Gift shop           21.9     21.1              22.2    22.1
  Total sales       100.0    100.0             100.0   100.0

Cost of goods sold   34.2     33.7              34.4    33.8
Gross profit         65.8     66.3              65.6    66.2

Labor & other
 related expenses    33.1     31.7              33.3    32.7
Other store
 operating
 expenses (1)        18.6     13.5              16.2    14.7
General and
 administrative       3.9      4.8               5.4     5.7
  Total expenses     55.6     50.0              54.9    53.1

Operating income     10.1     16.3              10.7    13.1
Interest expense      0.0      0.0               0.1     0.1
Interest income       0.1      0.4               0.2     0.4

Pretax income        10.3     16.7              10.8    13.4
Provision for
 income taxes (1)     3.9      6.3               4.1     5.0

Net income            6.4     10.4               6.7     8.4

    (1) Includes the previously announced one-time charge related to
write offs for closure of 3 Cracker Barrel stores, 3 Corner Markets,
and the Company's point-of-sale system.  The total after-tax effect
amounted to approximately $8,800 or $0.15 per share.

CONTACT: Cracker Barrel Old Country Store, Inc., Lebanon

Michael A. Woodhouse, 615/444-5533