Cracker Barrel (CBRL) posted lower-than-expected sales in its fiscal first quarter and trimmed its revenue forecast for the year as it continued to feel the fallout from a botched plan to revamp its logo and restaurants. The Lebanon, Tennessee-based restaurant chain said Tuesday its revenue fell 5.7% to $797.2 million in the three months ending Oct. 31. That was lower than the $800 million Wall Street anticipated, according to analysts polled by FactSet. Cracker Barrel said its same-store restaurant sale ...

Cracker Barrel released its Q1 results on Tuesday, reporting losses that sent its share price tumbling more than 10% in after-hours trading. The beleaguered Southern restaurant chain reported a 5.7% drop in revenue compared to the prior year's first quarter, and a 4.7% decrease in comparable restaurant sales. It also reported a net income loss of $24.6 million."First quarter results were below our expectations amid unique and ongoing headwinds," Cracker Barrel president and chief executive Julie Masino sai ...

Financial Performance - Total revenue for the first quarter decreased by 5.7% compared to the same period in the prior year, amounting to $797,188,000[98]. - Comparable store restaurant sales decreased by 4.7%, while comparable store retail sales decreased by 8.5%[99]. - Operating income for the quarter was a loss of 4.1% of total revenue, compared to a gain of 0.8% in the prior year[97]. - Operating loss for the first quarter of 2026 was $(32,797), a significant decline from operating income of $7,071 in the same period of 2025, attributed to decreased total revenue and higher expenses[122]. - Net loss for the first quarter of 2026 was $(24,622), compared to net income of $4,844 in the prior year, primarily due to the operating loss[127]. - Cash used in operations was $53,430 in the first quarter of 2026, a substantial increase from $4,395 in the same period of 2025, driven by operating losses and timing of payments[130]. Cost and Expenses - The cost of goods sold increased to 31.2% of total revenue, up from 30.6% in the previous year[97]. - Labor and related expenses rose to 37.8% of total revenue, compared to 36.4% in the prior year[97]. - Other store operating expenses rose to 28.7% of total revenue in the first quarter of 2026, compared to 25.0% in the prior year, primarily due to increased occupancy and advertising costs[113]. - Labor and related expenses increased to 37.8% of total revenue in the first quarter of 2026, up from 36.4% in the same period of 2025, driven by higher store management compensation and hourly labor costs[108]. Strategic Initiatives - The company plans to refine its brand identity and enhance its menu offerings as part of its multi-year strategic plan[93]. - Negative publicity from recent brand initiatives contributed to a decrease in guest traffic, impacting overall sales[102]. Capital and Financing - Capital expenditures for the first quarter of 2026 were $34,165, down from $38,887 in the prior year, with expectations of $110,000 to $125,000 for the full year[131][132]. - The Company issued the 2030 Notes with a cash interest rate of 1.75% per annum, maturing on September 15, 2030, and net proceeds of approximately $335 million after fees[136]. - Approximately $145.9 million of the net proceeds from the 2030 Notes were used to repurchase $150 million of the 2026 Notes, which bear a cash interest rate of 0.625% per annum[137]. - The Company had negative working capital of $288.3 million as of October 31, 2025, an improvement from negative working capital of $312.5 million on August 1, 2025[144]. - Outstanding borrowings under the 2025 Revolving Credit Facility totaled $65 million as of October 31, 2025, with interest rate risk managed through a mix of fixed and variable rate debt[154]. - A one-percentage point change in the $65 million outstanding borrowings would impact pre-tax annualized costs by approximately $657[155]. Dividends and Share Repurchase - During the first three months of 2026, the Company paid a regular dividend of $0.25 per share and declared another dividend of $0.25 per share for payment on February 11, 2026[140]. - The Board of Directors approved a share repurchase authorization of up to $100 million, although no shares were repurchased in the first quarter of 2026[141]. Tax and Credit Risk - The effective tax rate for the first quarter of 2026 was 32.6%, an increase from (287.8)% in the prior year, primarily due to the benefit of employment credits in the previous period[124]. - The Company believes it does not have a material exposure to credit risk related to its Capped Call Transactions and Convertible Note Hedge Transactions at this time[156]. Store Operations - The number of Cracker Barrel locations decreased from 658 to 656, while Maple Street Biscuit Company locations decreased from 69 to 54[97]. - The company operates 656 Cracker Barrel stores in 43 states and 54 Maple Street Biscuit Company locations in ten states as of October 31, 2025[88].

Media Contact: Heidi Pearce (615) 235-4135 CRACKER BARREL REPORTS FIRST QUARTER FISCAL 2026 RESULTS AND UPDATES FISCAL 2026 OUTLOOK LEBANON, Tenn. – December 9, 2025 – Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today reported its financial results for the first quarter of fiscal 2026 ended October 31, 2025. Exhibit 99.1 Investor Contact: Adam Hanan (615) 443-9887 Cracker Barrel President and Chief Executive Officer Julie Masino said, "First quarter results were ...

Core Insights - Cracker Barrel's first quarter results for fiscal 2026 were below expectations due to ongoing challenges, prompting adjustments in operations, menu, and marketing strategies [2][6] - The company is implementing cost-saving initiatives to improve financial performance and is optimistic about regaining momentum despite a slow recovery [2] Financial Performance - Total revenue for the first quarter was $797.2 million, a decrease of 5.7% compared to the prior year [6][16] - GAAP net loss was $24.6 million, compared to a net income of $4.8 million in the same quarter last year [6][17] - Adjusted net loss was $16.4 million, down from an adjusted net income of $10.2 million in the prior year [6][22] - Adjusted EBITDA was $7.2 million, significantly lower than $45.8 million in the previous year [4][25] - GAAP earnings per diluted share were ($1.10), compared to $0.22 in the prior year [6][22] Operational Metrics - Comparable store restaurant sales decreased by 4.7%, while comparable store retail sales fell by 8.5% compared to the previous year [6][7] - The company ended the quarter with total debt of $550.3 million and a consolidated total leverage ratio of 2.8x [6][7] - Available liquidity was reported at $485 million [7] Outlook for Fiscal 2026 - The company revised its total revenue outlook to between $3.2 billion and $3.3 billion, down from a previous estimate of $3.35 billion to $3.45 billion [7] - Adjusted EBITDA guidance was also lowered to a range of $70 million to $110 million, down from $150 million to $190 million [7] - The company anticipates annualized savings of $20 million to $25 million in general and administrative expenses due to corporate restructuring [7][14] Dividend Declaration - The Board of Directors declared a quarterly dividend of $0.25 per share, payable on February 11, 2026, to shareholders of record as of January 16, 2026 [7]

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) will release earnings results for the first quarter after the closing bell on Tuesday, Dec. 9.Analysts expect the company to report a quarterly loss at 68 cents per share, versus a year-ago profit of 45 cents per share. The consensus estimate for Cracker Barrel's quarterly revenue is $802.22 million, compared to $845.09 million a year earlier, according to data from Benzinga Pro.The company has beaten analyst estimates for revenue in only three of the las ...

Core Insights - The company is attempting to recover its crucial holiday business following a logo controversy that has impacted its brand image [1] Group 1 - The Southern-style chain is facing challenges in rebuilding its holiday business, which is critical for its annual revenue [1] - The controversy surrounding the logo has led to negative public perception, affecting customer loyalty and sales [1] - The company is implementing strategies to address the fallout from the controversy and regain consumer trust [1]

Restaurant chain Cracker Barrel Old Country Store Inc (NASDAQ:CBRL)  aims to show it has moved on from the backlash over a logo change when it reports first-quarter financial results Tuesday after market close.Here are the earnings estimates, what analysts are saying ahead of the report and key items to watch.Earnings Estimates: Analysts expect Cracker Barrel to report first-quarter revenue of $802.22 million, down from $845.09 million in last year's first quarter, according to data from Benzinga Pro.The co ...

Core Insights - Gardners Candies is expanding its national presence by partnering with Cracker Barrel Old Country Store and increasing availability in various retail locations, including over 20 Grandpa Joe's Candy Shop locations [2][3] - The company is introducing new packaging for its products, specifically 3.5-ounce bags designed for retailers, which will be available starting February 1 [6][7] - Gardners is launching new products, including Dubai Chocolate and Milk Chocolate Double O's, to enhance its product line and attract more customers [8][10] Expansion Strategy - Gardners Candies is set to sell its S'mores in approximately 660 Cracker Barrel locations across 43 states starting next spring [3] - The company has gained traction with major retailers, as evidenced by Giant Eagle increasing its product offerings, including Peanut Butter Meltaway Pretzels and other items [7] - The introduction of new 3.5-ounce bags aims to cater to convenience stores and differentiate Gardners' product line from single items [6] Product Development - Gardners is expanding its product range with the introduction of Dubai Chocolate and a third OREO treat, Milk Chocolate Double O's, which features OREO cookies coated in Gardners milk chocolate [8][10] - The new packaging will include seven individually wrapped pieces of various flavors, enhancing the consumer experience [6][7] - Gardners continues to innovate with its offerings, maintaining a focus on quality and customer service since its founding in 1897 [10]

Key Takeaways CBRL is set to report Q1 results, with estimates calling for a $0.68 loss on $801.1M in revenues.Traffic declines following its brand refresh and pricing actions likely pressured sales.Higher marketing, training and conference costs are expected to weigh on quarterly margins.Cracker Barrel Old Country Store, Inc. (CBRL) is scheduled to report first-quarter fiscal 2026 results on Dec. 9, 2025.CBRL’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed on ...