Cracker Barrel Old Country Store Inc. on Thursday said it would stop working with the consultancy that advised it on a logo change and restaurant overhaul that backfired over the summer, raising further questions about the Americana-themed restaurant chain's path forward. ...

Group 1 - The company has engaged marketing firm Prophet to revamp its brand image and restaurant experience [1] - Cracker Barrel is undergoing executive changes in its operations and menu management roles [1]

Core Insights - Cracker Barrel Old Country Store, Inc. announced leadership and organizational structure enhancements to improve focus on food quality and guest experiences [1][2] - The changes aim to streamline the leadership team and reduce organizational layers, enhancing operational efficiency [1][2] Leadership Changes - Doug Hisel has been promoted to Senior Vice President of Store Operations, overseeing Field Operations and Operations Services, bringing 18 years of experience with the company [5] - Thomas Yun rejoined as Vice President of Menu Strategy & Innovation, responsible for successful menu introductions and maintaining classic favorites [5] - Heather Hager and Heather Gammon are expanding their roles to absorb responsibilities from Laura Daily, who has retired [5] Strategic Direction - The company is ending its engagement with Prophet, a consultancy that assisted with previous brand refresh initiatives, indicating a shift in strategic direction [2] - The leadership changes are part of a broader strategy to prepare for a memorable holiday season and ongoing improvements to honor the brand's legacy [2]

Core Insights - Cracker Barrel Old Country Store Inc. has seen a significant decline in its quality ranking, dropping from the 12.24th percentile to the 8.99th percentile, a decrease of 3.25 points in just one week [2][3] - The company's quality ranking now places it in the bottom 10% of all stocks, indicating deteriorating operational efficiency and financial health [3] Financial Performance - The decline in quality ranking is attributed to worsening fundamentals, including declining revenue and management indecision regarding store modernization and capital allocation [5] - Customer foot traffic has decreased by 8%, contributing to the company's operational challenges [6] Strategic Decisions - CEO Julie Masino announced that Cracker Barrel will halt its modernization plans, which were part of a $600–700 million capital investment strategy, due to negative feedback from customers [5] - Future capital expenditures are expected to be significantly lower, projected at only $135–150 million for fiscal 2026 [6] Stock Performance - Cracker Barrel's stock price has declined by 19.77% year-to-date and 6% over the past year, closing at $44.06 per share [7] - The stock experienced a 1.98% drop on Tuesday and was down 1.13% in premarket trading on Wednesday [7]

Core Insights - Cracker Barrel's Maple Street Biscuit Company has closed 14 locations due to financial underperformance, impacting fiscal 2026 [1][10] - The company acquired Maple Street Biscuit Company in October 2019 for $36 million and still operates over 50 locations [2] - Cracker Barrel is facing backlash from a recent marketing misstep, which included a logo redesign that was quickly reversed [3][9] Financial Performance - Cracker Barrel reported a 2.9% decline in revenue in the latest quarter compared to the same period last year [9] - Customer traffic has decreased by 8% since the introduction of a simplified logo in August [9] Management and Strategy - CEO Julie Felss Masino acknowledged the company's misjudgment regarding customer attachment to its nostalgic branding [6] - The company has reverted to its "Old Timer" logo and is implementing new marketing strategies focused on nostalgia [7] - Four of the 660 restaurants had undergone a modernized redesign, but the company is now converting them back to traditional interiors [7]

Store Operations - As of September 12, 2025, Cracker Barrel operated 657 stores in 43 states and 68 Maple Street Biscuit Company stores in 10 states[18]. - The company opened one new Cracker Barrel store and closed two in 2025, with plans to open two new stores in 2026[37]. - As of September 12, 2025, the company employed approximately 76,730 people, with a significant portion in part-time roles[41]. Financial Performance - In 2025, restaurant sales accounted for approximately 81% of total revenue, with an average check per guest of $15.23, representing a 6.8% increase from the previous year[22][23]. - The average weekly guest count per typical store in 2025 was approximately 5,330[23]. - In 2025, breakfast, lunch, and dinner sales accounted for 28%, 40%, and 32% of restaurant sales, respectively[24]. - The five largest categories of retail sales in 2025 were apparel and accessories (33%), food (18%), toys (13%), décor (13%), and media (7%)[25]. - Approximately 20% of restaurant sales were generated through off-premise channels, with Individual To Go, Third-Party Delivery, and Catering accounting for 50%, 32%, and 18% of total off-premise sales, respectively[34]. Capital Investment - The average capital investment for a new store opened in 2025 was approximately $7,700, with pre-opening costs averaging $985 per store[38]. Employee Development - Employee development and training are emphasized, focusing on store managers to ensure high service quality[42]. - Cracker Barrel offers comprehensive employee benefits, including medical, dental, vision, and life insurance, as well as a 401(k) savings plan[43]. - The company maintains pay equity in its compensation and performance evaluation systems to retain a productive workforce[44]. Quality Assurance and Safety - Robust quality assurance and food safety processes are in place, including third-party audits and compliance monitoring[45]. Market Risks - The company is exposed to market risks, including interest rate and commodity price fluctuations, with a weighted average interest rate of 7.19% on outstanding borrowings[255]. - In 2025, beef accounted for 17% of food purchases, while poultry and fruits and vegetables accounted for 12% each[258]. - The company believes it can replace suppliers if necessary, minimizing adverse effects from supply disruptions[259]. Seasonal Trends - Seasonal revenue variations are noted, with higher profits typically in the second and fourth fiscal quarters due to holiday and summer travel seasons[52]. Working Capital - The company operates with negative working capital, relying on rapid product turnover and trade credit for financing[53]. Competition - Competition in the restaurant and retail industries is intense, with factors such as consumer preferences and economic conditions affecting performance[51].

Core Insights - Maple Street Biscuit Company, owned by Cracker Barrel, has closed over a dozen locations due to financial underperformance, impacting 14 locations during fiscal 2026 [1][2] - Cracker Barrel acquired Maple Street Biscuit Company in October 2019 for $36 million, and there are still more than 50 locations operational [2] - Cracker Barrel is facing backlash from a failed rebranding effort that included a logo redesign and store remodels, leading to a proxy battle from rival Steak 'n Shake to change the company's leadership [3][6] Financial Performance - Cracker Barrel reported a revenue decline of 2.9% in its latest quarter compared to the same period last year, with customer traffic down 8% since the introduction of a simplified logo in August [11] Marketing and Branding - The company acknowledged underestimating the emotional connection customers have with its nostalgic branding, leading to a quick reversal back to the "Old Timer" logo [5][6] - Cracker Barrel has begun reverting its four modernized test stores back to traditional interiors, emphasizing the brand's Americana décor [8]

Core Insights - Cracker Barrel Old Country Store is attempting to move past a controversial logo redesign and is focusing on its future plans for 2026 [2][4] - The company has announced the closure of 14 Maple Street Biscuit Company locations, representing approximately 21% of its company-owned stores for that brand [3][8] - Projected revenue for fiscal 2026 is between $3.35 billion and $3.45 billion, with an expected decline in comparable store traffic of 4% to 7% [4] Financial Performance - Cracker Barrel reported its fourth-quarter financial results earlier this month, which included the announcement of store closures [3] - The company plans to open two new locations for its flagship Cracker Barrel brand during the fiscal period [4] Brand Management - CEO Julie Masino addressed the logo controversy during an earnings call, emphasizing the strong emotional connection fans have with the brand [4] - Following backlash, the company reverted to its old branding and halted remodeling plans for some restaurants [4] Store Closures - The 14 closures span six states, with the majority located in Texas [8] - Despite the closures, Maple Street Biscuit Company still operates over 50 locations [13] Stock Performance - Shares of Cracker Barrel have decreased by approximately 5% since the earnings report and around 30% since late August [14]

Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) is one of the Best Undervalued Stocks to Invest in According to Reddit. On September 18, Truist reduced the price target on the company’s stock to $58 from $62, while keeping a “Buy” rating. The firm noted Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL)’s Q4 2025 earnings miss, but also recommends buying, considering that the core drivers of the brand turnaround remain intact and that sales might start to recover from the rebranding backlash soon, w ...

Cracker Barrel has closed more than a dozen Maple Street Biscuit Company locations, the company confirmed. Cracker Barrel, which acquired Maple Street Biscuit Company in 2019 for $36 million, closed 14 of the breakfast chain's locations because they "simply didn’t meet our financial expectations," the company said in a statement to USA TODAY. Cracker Barrel initially announced it would be closing Maple Street locations in its latest earnings release on Sept. 17. Maple Street Biscuit Company, which was ...