Core Viewpoint - Cracker Barrel's stock has declined due to a disappointing full-year outlook, projecting lower traffic and sales, alongside a recent logo change backlash [1][2]. Financial Performance - For fiscal year 2026, Cracker Barrel expects total revenue between $3.35 billion and $3.45 billion, with a traffic decline of 4%-7% from the previous year, falling short of Wall Street's expectation of $3.52 billion [2]. - In the fourth quarter, the company reported adjusted earnings per share of $0.74, slightly below the expected $0.76, with revenue of $868 million, exceeding forecasts. Same-store restaurant sales increased by 5.4%, surpassing the anticipated 3.5% [4]. Traffic and Sales Outlook - CFO Craig Pommells indicated a 1% traffic decline in early August, worsening to approximately 8% since the logo change on August 19. The company anticipates a Q1 traffic decline of 7%-8% if trends continue [3]. - The company has withdrawn its revenue outlook for fiscal year 2027, which was previously estimated at $3.8 billion to $3.9 billion [3]. Strategic Changes - Following customer feedback, the company reverted to its old logo and is implementing new marketing strategies focused on nostalgia, including the character Uncle Herschel [5][7]. - Capital expenditures for the upcoming fiscal year are expected to decrease to $135 million-$150 million, with no planned spending on store remodels, although two new stores will be opened [6].