Cracker Barrel (CBRL) Stock Down on Dividend Cut, Dismal View

Cracker Barrel Old Country Store, Inc. (CBRL) recently announced an update on its third and fourth quarter of fiscal 2024 financial results. The company expects lower-than-anticipated traffic to negatively impact its performance. Additionally, it announced plans to accelerate investments in organic growth by reallocating capital and reducing its quarterly dividend to $0.25 per share from$1.30. Following the announcements, the stock declined 10.3% in after-hours trading on May 16. Q3 & Q4 Fiscal 2024 Update ...