U.S. stock futures were slightly higher this morning, with the S&P 500 futures gaining around 0.1% on Wednesday.Shares of Cracker Barrel Old Country Store Inc (NASDAQ:CBRL) fell sharply in pre-market trading after the company reported worse-than-expected first-quarter financial results and cut its FY26 sales guidance below estimates.Cracker Barrel reported first-quarter revenue of $797.19 million, missing analyst estimates of $802.22 million. The restaurant operator reported a first-quarter adjusted loss of ...

U.S. stock futures were slightly higher this morning, with the S&P 500 futures gaining around 0.1% on Wednesday.Shares of Cracker Barrel Old Country Store Inc (NASDAQ:CBRL) fell sharply in pre-market trading after the company reported worse-than-expected first-quarter financial results and cut its FY26 sales guidance below estimates.Cracker Barrel reported first-quarter revenue of $797.19 million, missing analyst estimates of $802.22 million. The restaurant operator reported a first-quarter adjusted loss of ...

Cracker Barrel shares fell sharply on Wednesday after the Tennessee-based restaurant-and-retail chain cut its annual revenue forecast and posted weaker-than-expected quarterly results, weighed down by... ...

Core Point - Krispy Kreme is launching its annual "Day of the Dozens" promotion, allowing customers to purchase a dozen Original Glazed® doughnuts for just $1 with the purchase of any dozen or 16-ct Minis at regular price [1] Group 1: Promotion Details - The promotion will take place on Friday, December 12, and is designed to spread holiday cheer among doughnut fans across the United States [1] - Customers can take advantage of this deal in-store, via drive-thru, or online [1]

Core Insights - TH International Limited, known as Tims China, reported an earnings per share (EPS) of -$0.31, missing the estimated EPS of -$0.14, and actual revenue of approximately $50.3 million, below the expected $55.5 million [1][6] Financial Performance - The company experienced a year-over-year increase in system sales of 12.8%, reaching RMB419.9 million [2] - Total revenues slightly decreased by 0.4% from the same quarter in 2024, amounting to RMB358.0 million, or approximately USD50.3 million [2] - The company has a negative price-to-earnings ratio of -1.66 and an earnings yield of -0.60, indicating a lack of profitability [4] - The enterprise value to operating cash flow ratio is significantly negative at -49.41, suggesting potential cash flow generation issues [4] Debt and Liquidity - The debt-to-equity ratio is negative at -1.90, indicating a higher level of debt compared to equity, which raises concerns about financial stability [5] - The current ratio is low at 0.26, suggesting potential liquidity issues in meeting short-term obligations [5] Growth and Expansion - Tims China ended the quarter with 27.9 million registered loyalty club members, marking a 22.3% increase compared to the previous year [3] - The company reported a net opening of 15 new stores, including 38 new made-to-order (MTO) stores and the closure of 23 non-MTO stores, including seven Tims Express locations [3]

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Market Overview - Market indexes remained mostly flat, with the Dow Jones Industrial Average dropping by 178 points, or 0.37%, while the S&P 500 decreased by 6 points, or 0.09%. The Nasdaq gained 31 points, or 0.13%, and the Russell 2000 increased by 5 points, or 0.20% [1] Bond Market Insights - The 10-year bond yield rose to a three-month high of 4.186%, driven by concerns that an upcoming 25 basis-point interest rate cut may weaken the Federal Reserve's ability to control inflation, which is currently closer to 3% than the target of 2% [2] Labor Market Data - The Job Openings and Labor Market Turnover Survey (JOLTS) for October reported 7.67 million job openings, significantly higher than the expected 7.2 million, following an upward revision for September to 7.66 million [3] - The number of hires decreased by 218,000 to 5.15 million, and the Job Quits Rate fell to 1.8%, the lowest since the peak of the Covid pandemic, indicating a stagnant labor market [4] Company Earnings Reports - Casey's General Stores (CASY) reported fiscal Q2 earnings of $5.53 per share, exceeding expectations of $4.92, representing a 14% year-over-year increase. However, revenues of $4.51 billion fell slightly short of estimates, with a year-over-year growth of 3.3%. Shares declined by 2.4% in late trading after a 42% year-to-date gain [5] - Cracker Barrel (CBRL) reported a negative earnings per share of -$0.74, excluding one-time items, and -$1.10 including them. Revenues of $797.2 million missed the consensus estimate of $801.1 million and decreased from $845.1 million a year ago. The company lowered its full-year revenue guidance, leading to a 10% drop in shares during late trading [6]

Core Insights - Cracker Barrel Old Country Store reported a revenue of $797.19 million for the quarter ended October 2025, reflecting a year-over-year decline of 5.7% [1] - The earnings per share (EPS) for the same period was -$0.74, compared to $0.45 a year ago, indicating a significant drop in profitability [1] - The reported revenue fell short of the Zacks Consensus Estimate of $801.06 million, resulting in a surprise of -0.48%, while the EPS exceeded expectations by 5.13% [1] Financial Performance Metrics - Comparable-store sales for the restaurant segment decreased by 4.7%, which was better than the three-analyst average estimate of -5.2% [4] - Comparable-store sales for the retail segment saw a decline of 8.5%, worse than the three-analyst average estimate of -5.2% [4] - Company-owned units totaled 656, slightly below the average estimate of 657 by three analysts [4] - The total number of stores at the end of the period was 710, compared to the average estimate of 717 based on two analysts [4] - Retail revenues were reported at $146.53 million, which is a 9.5% year-over-year decline and below the average estimate of $152.64 million [4] - Restaurant revenues amounted to $634.84 million, representing a year-over-year decline of 7.1%, also falling short of the three-analyst average estimate of $648.49 million [4] Stock Performance - Over the past month, Cracker Barrel's shares have returned -8.5%, contrasting with the Zacks S&P 500 composite's increase of +1.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Core Viewpoint - Cracker Barrel reported lower-than-expected sales and reduced its revenue forecast for the fiscal year due to negative customer reactions to a logo and restaurant redesign initiative [1][4]. Financial Performance - Revenue fell 5.7% to $797.2 million for the three months ending October 31, below the anticipated $800 million [1][6]. - The company experienced a net loss of approximately $25 million, a significant decline from a profit of $4.8 million in the same period last year [2]. Sales Metrics - Same-store restaurant sales decreased by 4.7%, while retail shop sales dropped by 8.5%, both figures exceeding analysts' forecasts [3]. Revenue Forecast - The company now expects total revenue for the 2026 fiscal year to be between $3.2 billion and $3.3 billion, down from a previous estimate of $3.35 billion to $3.45 billion [4]. - Adjusted pre-tax earnings are now projected to be between $70 million and $110 million, reduced from an earlier forecast of $150 million to $190 million [4]. Customer Reaction - The new logo and store redesign faced backlash from customers, leading to a decision to revert to the original logo and suspend remodeling plans [5][8]. - The company operates around 650 restaurants across the U.S., with a significant presence in Texas, Florida, and Tennessee [8]. Leadership Changes - Despite the logo controversy, shareholders voted to retain CEO Julie Felss Masino [10]. - A board member, Gilbert Davila, resigned following preliminary results indicating shareholders rejected his reelection [9].

Financial Data and Key Metrics Changes - Total revenue for Q1 2026 was $797.2 million, down 5.7% from the prior year quarter [23] - Adjusted EBITDA was $7.2 million, or 0.9% of total revenue, compared to $45.8 million, or 5.4% of total revenue in the prior year [27] - GAAP earnings per diluted share were -$1.10, and adjusted earnings per diluted share were -$0.74 [27] Business Line Data and Key Metrics Changes - Restaurant revenue decreased 4.8% to $650.6 million, with comparable store restaurant sales down 4.7% [23] - Total retail revenue decreased 9.4% to $146.6 million, with comparable store retail sales down 8.5% [23] - Off-premise sales accounted for 18.1% of restaurant sales [23] Market Data and Key Metrics Changes - Traffic declined approximately 11% in the quarter, with a consistent trend between -10% and -11% over the last couple of months [28][62] - The company noted a decline in consumer sentiment and overall industry traffic compared to the summer [52] Company Strategy and Development Direction - The company is focusing on improving food quality and guest experience, with a multi-pronged plan to connect with guests through menu, messaging, and loyalty programs [11][12] - A restructuring of the corporate support center is underway to streamline operations and reduce costs, aiming for annualized G&A savings of approximately $20 million-$25 million [30] - The company is committed to maintaining food quality while pursuing cost savings and operational efficiency [20][21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a difficult macro and industry backdrop, with plans to regain trust and confidence from guests [5][6] - The outlook for fiscal 2026 anticipates total revenue of $3.2 billion to $3.3 billion, reflecting a slower recovery than previously expected [29] - Management emphasized the importance of delivering consistent quality and hospitality to drive traffic recovery [34][68] Other Important Information - The company has launched several promotional initiatives, including a military discount and a toy promotion for kids' meals, to drive traffic [15][17] - The Cracker Barrel Rewards Loyalty Program has grown to over 10 million members, accounting for 40% of tracked sales [18] Q&A Session Summary Question: Advertising Spend Reduction - Management explained that the reduction in advertising spend is to align with current traffic levels and reduce non-guest-facing costs, with a planned decrease of $12 million-$16 million in advertising expenses for Q2 to Q4 [37][38] Question: Holiday Season Plans - Management confirmed that they are actively working to drive traffic during the holiday season with promotions and menu items that resonate with guests [41][45] Question: Updated Traffic Guidance - Management indicated that the updated traffic guidance for the year includes expectations of a decline of 8% to 10%, with potential recovery in the back half of the year [50][51] Question: Macro Pressures Impact - Management noted that consumer sentiment has softened and overall industry traffic has decreased, but performance across income cohorts has remained relatively stable [52][53] Question: Challenges with Operations Initiative - Management acknowledged challenges with the rollout of the operations initiative, which impacted food consistency and guest experience, leading to a rollback of certain changes [54][55] Question: Menu Innovation and Future Offerings - Management expressed confidence in upcoming menu innovations and the return of popular items, emphasizing a focus on guest feedback and maintaining quality [66][75]