Cracker Barrel parent OK's 3 million share buyback

The board of CBRL Group Inc. (CBRL), the owner of Cracker Barrel Restaurants, Monday authorized the repurchase of up to 3 million shares of its common stock. The company had roughly 55 million shares outstanding at the end of its fiscal year on August 3, 2001.

The purchases will be made at the company’s discretion in the open market. CBRL was one of more than 75 corporations to announce stock buybacks on Monday.