00:00I thought it would be appropriate to start with Cracker Barrel, since they're known for their
00:04big country breakfast. We're sort of still in the breakfast time, right? It's almost 9 a.m.
00:08All right, so Cracker Barrel in the news here, ticker simple CBRL. It is up 15.5% guys this
00:15morning. It is up 43% year to date. And really what this story tells us, it's the recovery there
00:21at Cracker Barrel continues. Remember that customer backlash, changed its logo, redesigned
00:25its restaurant, thought it was going modern. And consumers went, wait a minute, we love you
00:29because you're nostalgic and old timey. So they went back and we're seeing things pick up. Now
00:35store traffic, it is still falling, but declines have gotten less steep. So I guess that's good
00:40news for the stock. And the chain did raise its full year revenue guidance. The company
00:45has since been focusing on improving its food, its service. And it's also, I don't know if you've
00:50gone in one recently. I saw pictures of this online. They have this American heritage line
00:54for the country's 250th birthday. So I mean, everything from, you know, T-shirts to those
01:01salt and pepper shakers, Route 66 signs are selling like hotcakes.
01:04I haven't looked at a restaurant financial statement in a while. Paul, can we remind
01:10ourselves this is a tough business?
01:12It's a tough business.
01:13You're bringing in a dollar and you're hoping to make three or four cents.
01:16Yep. And so it's all about volume. And so you've got your core customers make up the
01:21backbone of your, of your restaurant. And for Cracker Barrel, the core goers are just
01:26deeply committed. Okay, that's great, but we're addicted to NVIDIA.
01:29No, I'm addicted to the biscuits and gravy there at Cracker Barrel's to die for.
01:35But the margins are raised at those restaurants for sure. All right, let's move on to a retailer
01:39now and that would be Chewy, the pet supply company. Tom, I think you are a big consumer there
01:46for your pets of the Chewy. The stock is down one and a half percent here pre-market and
01:51it has been a tough year for Chewy because the stock is down 38% year to date. Mixed quarterly
01:56results from the company, adjusted earnings coming in in line with estimates, net sales
02:00rose about 8% narrowly beating the streak. The company did cut its full year sales outlook,
02:06maintained its profit outlook. Some are saying that, look, the stock could be down even more
02:12because Chewy avoided the worst case scenario. A couple of weeks ago, the CEO came out and said,
02:16you know, consumers are more stretched than ever entering the new year. So maybe it's a case
02:22of, it's, it's not great, but it could have been worse. On the income statement, I got five cents,
02:27six cents on the dollar. It's a tough living. Yeah. I just, you know, you do your Chewy,
02:31you know, the food, the pads, the Chewy bones, you know, about it. Oh yeah. Yeah. I mean,
02:38the Chewy bones are the best, but they're making six cents. We won't ask how you know that. They're
02:43making six cents on the dollar. Yeah. That's rough stuff. Do you have another one? I do. Of course I
02:48do. So, uh, several large trucking companies. I actually have two for one for you here. So I've got
02:52FedEx Freight and Old Dominion. They are coming under pressure. Amazon announced an expansion of
02:58its shipping service. Um, it is, uh, called less than truckload services. That's when you carry
03:03shipments that are larger than parcels, but smaller than full truckloads. And, um, they're going to
03:09expand that business to any kind of destination across the country from third party warehouses to
03:14retail partners. And that has the transportation industry all in a tizzy. This, uh, they first announced
03:19this, uh, like a couple of weeks ago, uh, UPS was hurt because of it. Third party logistics
03:24firms like CH Robinson. And now we're seeing FedEx Freight and Old Dominion sell off. By
03:29the way, FedEx Freight was spun off from FedEx just a few weeks ago. I worked on the IPO of
03:34Old Dominion Freight Lines in 1991 as a junior banker. How about that? I still may have the model
03:41for it if I can take you down on a floppy disk.
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