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]

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 negative $1.10, and adjusted earnings per diluted share were negative $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 Q2, with a consistent trend of negative 10% to negative 11% over the last couple of months [28][62] - The company noted a decline in consumer sentiment and softer labor numbers compared to previous months [52] Company Strategy and Development Direction - The company is focusing on improving food quality and guest experience, with operational changes and menu adjustments [5][8] - A restructuring of the corporate support center is underway to streamline operations and reduce costs [20] - The company is implementing cost-saving measures while ensuring food quality and guest experience are not compromised [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a difficult macro and industry backdrop affecting performance, with plans to regain trust and confidence from guests [5][21] - The outlook for fiscal 2026 anticipates total revenue of $3.2-$3.3 billion, reflecting a slower recovery than previously expected [29] - Adjusted EBITDA for the full year is projected to be approximately $70 million-$110 million, depending on traffic recovery [31] Other Important Information - The company has launched several promotional initiatives to drive traffic, including a military discount and holiday promotions [15][16] - 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 rationale - 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-$16 million in advertising expenses for Q2 to Q4 [37][38] Question: Incremental plans for the holiday season - Management emphasized a commitment to driving traffic through great in-store experiences and promotions, including a toy promotion that integrates restaurant and retail [41][45] Question: Updated traffic guidance for the year - Management confirmed that the updated traffic guidance reflects a decline of approximately 8%-10%, with the potential for recovery in the second half of the year [50][51] Question: Impact of operational initiative challenges - Management acknowledged that challenges in rolling out operational initiatives did impact same-store sales and traffic, leading to a decision to revert to prior processes [54][55] Question: Disaggregating macro pressures on sales - Management indicated that while macro pressures are evident, the brand's recovery efforts and promotional initiatives are also influencing traffic trends [62][63]

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 negative $1.10, and adjusted earnings per diluted share were negative $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 was down approximately 11% in Q2, with a decline of 7.3% in comparable store traffic for Q1 [28][23] - The company noted a decline in consumer sentiment and overall industry traffic compared to the summer months [46] Company Strategy and Development Direction - The company is focusing on improving food quality and guest experience through operational changes and menu adjustments [5][10] - A restructuring of the corporate support center is underway to streamline operations and reduce costs [20][31] - The company plans to leverage its loyalty program, which has over 10 million members, to drive traffic and enhance guest engagement [19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged a challenging macro and industry backdrop, impacting traffic and sales [5][46] - The company anticipates total revenue for fiscal 2026 to be between $3.2 billion and $3.3 billion, reflecting a slower recovery than previously expected [30] - Management expressed confidence in returning to growth over time and creating long-term value for stakeholders [34] Other Important Information - The company has implemented a military discount program and various promotional offers to drive traffic [16][18] - The company is focusing on cost savings while ensuring food quality and guest experience are not compromised [20][31] Q&A Session Summary Question: About the cut in advertising spend - 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-$16 million in advertising expenses for Q2 to Q4 [36][38] Question: Plans for the December holiday window - Management emphasized a commitment to regaining traffic momentum and highlighted ongoing efforts to enhance guest experiences and brand trust [39][40] Question: Updated guidance for traffic for the year - Management confirmed that the updated traffic guidance reflects a decline of 8% to 10%, with the potential for recovery in the latter half of the year [45] Question: Macro pressures on sales versus rebranding effects - Management noted that while macro pressures are impacting sales, some initiatives have provided short-term traffic boosts, but sustainability remains a concern [50][51] Question: Menu innovation and upcoming offerings - Management expressed confidence in upcoming menu innovations and the return of popular items, aiming to enhance guest experiences and drive traffic [56][60]

Core Insights - Cracker Barrel reported lower-than-expected sales in its fiscal first quarter, with revenue declining 5.7% to $797.2 million, falling short of the $800 million forecast by analysts [1] - The company has revised its revenue forecast for the fiscal year 2026 to a range of $3.2 billion to $3.3 billion, down from the previous estimate of $3.35 billion to $3.45 billion [2] - Same-store restaurant sales decreased by 4.7%, while retail shop sales dropped by 8.5%, both figures exceeding analyst expectations [2] Company Actions and Reactions - Following the disappointing sales results, Cracker Barrel's shares fell over 10% in after-hours trading [3] - The company attempted to modernize its brand by changing its logo and restaurant designs, but the changes were met with backlash from customers, leading to a decision to revert to the original logo and suspend remodeling plans [3][4] - Despite the logo controversy, shareholders voted to retain CEO Julie Felss Masino, while board member Gilbert Davila resigned after failing to secure reelection [6][7]

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 ...

Back in the 1980s, Pizza Hut used to host birthday parties where the birthday person, not their entire party, got to make their own pizza. That was a popular activity that likely helped inspire the current wave of make-your-own pizza chains. The Pizza Hut party actually allowed the birthday boy or girl to handle the dough, sauce, cheese, and add their own toppings. Today's make-your-own pizza chains, led by Blaze Pizza, with over 350 locations nationwide, and Mod Pizza, which has about double that, don't ...

Prosecutors have just revealed this new police body camera video. They say it captures the arrest as it happened. This is actually when the officers are walking in to that McDonald's in Altuna, Pennsylvania.You McDonald's. >> Yeah. Appreciate it.Thank you. Okay. Um, what's your name.>> Uh, Mark. >> What is it. >> Mark. >> Mark.Yes, sir. Mark what. >> Rosario. >> Rosario.Someone called. They thought you were suspicious. Um, did you drive on.Yes. Thought she looked like someone uh killed the run. ...

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]

Core Insights - The MICHELIN Guide has released its 2026 edition for Doha, highlighting the city's evolving culinary scene with 12 new restaurant entries, including 9 in the selected category, 8 earning Bib Gourmand distinctions, and 3 receiving One MICHELIN Star awards [2][3][6]. Restaurant Highlights - Alba, located in Katara Towers at Raffles Doha, has been promoted to One MICHELIN Star, showcasing dishes like Barolo-braised veal cheek and shrimp ragù spaghetti, emphasizing high-quality ingredients [5][6]. - Two restaurants, Jamavar and IDAM by Alain Ducasse, have retained their One MICHELIN Star status, reaffirming their excellence in dining [8]. Bib Gourmand Awards - The 2026 edition introduces 4 new Bib Gourmand distinctions, bringing the total to 8 in Doha. Notable new entries include: - Fenyal, a café offering Middle Eastern flavors at affordable prices - Mila, serving Mediterranean and Levantine sharing plates - Berenjak, featuring Persian cuisine - Baron, a Mediterranean fusion restaurant [9][10]. New Restaurant Entries - A total of 44 restaurants are included in the MICHELIN Guide Doha 2026 selection, with 9 new restaurants added. Highlights include: - Em Sherif, a Lebanese restaurant with stunning city views - Carbone Doha, a lively branch of a New York icon - Koo Madame, offering dim sum and hand-pulled noodles - Shanghai Me Doha, blending Chinese and Japanese flavors [11][12][13]. Special Awards - The MICHELIN Guide has recognized outstanding contributions in the culinary industry through its Special Awards: - Young Chef Award to Alba's Chef Cristhian Serraino for his creative and balanced dishes [14]. - Opening of the Year Award to Koo Madame for its distinctive dining experience [15]. - Service Award to Shanghai Me Doha for exceptional and attentive service [16]. - Exceptional Cocktail/Mocktail Award to yūn for its creative tea-based mocktails [17].