Media Contact: Heidi Pearce (615) 235-4135 CRACKER BARREL REPORTS FIRST QUARTER FISCAL 2026 RESULTS AND UPDATES FISCAL 2026 OUTLOOK LEBANON, Tenn. – December 9, 2025 – Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today reported its financial results for the first quarter of fiscal 2026 ended October 31, 2025. Exhibit 99.1 Investor Contact: Adam Hanan (615) 443-9887 Cracker Barrel President and Chief Executive Officer Julie Masino said, "First quarter results were ...

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 - Cracker Barrel Old Country Store, Inc. is expected to report a quarterly loss of 68 cents per share for the first quarter, a significant decline from a profit of 45 cents per share a year ago [1] - The consensus estimate for quarterly revenue is $802.22 million, which represents a decrease from $845.09 million in the same quarter last year, marking the lowest revenue in 15 quarters [1][2] Revenue Performance - The company has only beaten analyst revenue estimates in three of the last ten quarters [2] - The projected revenue of $802.22 million is the lowest since the third fiscal quarter of 2022, which reported $790.2 million [2] Dividend Information - Cracker Barrel currently offers an annual dividend yield of 3.59%, translating to a quarterly dividend of 25 cents per share, or $1.00 annually [2] - To achieve a monthly income of $500 from dividends, an investor would need to own approximately 6,000 shares, equating to a total investment of about $159,720 [3] - For a more conservative monthly income goal of $100, an investor would need 1,200 shares, requiring an investment of approximately $31,944 [4] Stock Price and Dividend Yield Dynamics - The dividend yield is subject to change based on fluctuations in the stock price and dividend payments [4][5] - For instance, if the stock price increases, the dividend yield decreases, and vice versa [5] - Recent trading saw Cracker Barrel shares decline by 4.4%, closing at $26.62 [6]

Core Insights - The company is attempting to recover its crucial holiday business following a logo controversy that has impacted its brand image [1] Group 1 - The Southern-style chain is facing challenges in rebuilding its holiday business, which is critical for its annual revenue [1] - The controversy surrounding the logo has led to negative public perception, affecting customer loyalty and sales [1] - The company is implementing strategies to address the fallout from the controversy and regain consumer trust [1]

Core Viewpoint - Cracker Barrel Old Country Store Inc is expected to report disappointing first-quarter financial results, reflecting the impact of a recent logo change backlash on its revenue and traffic [1][2][10]. Earnings Estimates - Analysts predict Cracker Barrel will report first-quarter revenue of $802.22 million, a decrease from $845.09 million in the same quarter last year [1]. - The anticipated revenue would represent the lowest quarterly revenue for Cracker Barrel in 15 quarters, dating back to the third fiscal quarter of 2022, which reported $790.2 million [2]. - Analysts expect a loss of 68 cents per share for the first quarter, a significant decline from a profit of 45 cents per share in the previous year [2]. Analyst Sentiment - Analysts have expressed caution regarding Cracker Barrel since the company’s fourth-quarter results, which did not account for the backlash from the logo change [4]. - Bank of America Securities analyst Sara Senatore noted that the negative response to the rebranding could hinder the company's turnaround efforts, leading to a lowered price target from $48 to $42 [5][6]. - Piper Sandler analyst Brian Mullan also reduced the price target from $56 to $49, citing traffic declines and below-consensus guidance for fiscal 2026 [6]. Traffic and Visitor Data - Cracker Barrel's traffic declined by 1% in the fourth quarter and has continued at a similar level into the first quarter, with a notable drop of approximately 8% following the logo change announcement [7]. - Data from Placer.ai indicates that visits to Cracker Barrel locations fell by 5.3% in the week following the logo change, with year-over-year traffic dropping by double digits in subsequent weeks [10][11]. - In September, visits were down 12.1% year-over-year, following a slight decline of 0.1% in August [11]. Future Guidance - Cracker Barrel's fiscal 2026 revenue guidance of $3.35 billion to $3.45 billion is below analyst expectations of $3.47 billion [13]. - The impact of the logo change backlash on first-quarter results and future recovery potential will be critical points of focus for investors and analysts [13]. Stock Performance - Cracker Barrel's stock has decreased by 2.7% to $27.07, with a year-to-date decline of 50.7% in 2025 [13].

Core Insights - Gardners Candies is expanding its national presence by partnering with Cracker Barrel Old Country Store and increasing availability in various retail locations, including over 20 Grandpa Joe's Candy Shop locations [2][3] - The company is introducing new packaging for its products, specifically 3.5-ounce bags designed for retailers, which will be available starting February 1 [6][7] - Gardners is launching new products, including Dubai Chocolate and Milk Chocolate Double O's, to enhance its product line and attract more customers [8][10] Expansion Strategy - Gardners Candies is set to sell its S'mores in approximately 660 Cracker Barrel locations across 43 states starting next spring [3] - The company has gained traction with major retailers, as evidenced by Giant Eagle increasing its product offerings, including Peanut Butter Meltaway Pretzels and other items [7] - The introduction of new 3.5-ounce bags aims to cater to convenience stores and differentiate Gardners' product line from single items [6] Product Development - Gardners is expanding its product range with the introduction of Dubai Chocolate and a third OREO treat, Milk Chocolate Double O's, which features OREO cookies coated in Gardners milk chocolate [8][10] - The new packaging will include seven individually wrapped pieces of various flavors, enhancing the consumer experience [6][7] - Gardners continues to innovate with its offerings, maintaining a focus on quality and customer service since its founding in 1897 [10]

Core Viewpoint - Cracker Barrel Old Country Store, Inc. (CBRL) is expected to report a loss of 68 cents per share for the first quarter of fiscal 2026, with revenues projected at $801.1 million, indicating a 5.2% decline from the previous year [2][7]. Group 1: Earnings and Revenue Estimates - The Zacks Consensus Estimate for CBRL's fiscal first-quarter bottom line is a loss of 68 cents per share, compared to an earnings per share (EPS) of 45 cents in the same quarter last year [2]. - Revenue estimates for the quarter are set at $801.1 million, reflecting a 5.2% decrease from the prior year's figure [2]. Group 2: Factors Impacting Quarterly Results - A significant decline in guest traffic is anticipated due to a brand refresh in mid-August, leading to an expected 7%-8% drop in quarterly traffic and a projected 4.5% year-over-year decline in same-store sales [3]. - Despite menu upgrades and food quality enhancements, a planned 4%-5% price increase may have further strained customer sentiment, limiting the effectiveness of pricing strategies against traffic declines [4]. - Retail performance is expected to be negatively impacted by tariff-driven adjustments and SKU reductions, with retail revenues predicted to fall 4.6% year over year to $154.1 million [4]. Group 3: Operating Expenses and Profitability - Operating expenses are projected to negatively affect quarterly profitability, with an estimated $16 million in additional costs related to marketing, training, and conferences [5]. - The combination of increased costs and weaker restaurant-level volumes is likely to compress margins, with costs of goods sold expected to rise 2.1% year over year to $264.3 million [5]. - Adjusted EBITDA for the fiscal first quarter is predicted to decline 47.7% year over year to $24 million, indicating significant pressure from traffic and cost challenges [6]. Group 4: Earnings Prediction Model - The current model does not predict an earnings beat for Cracker Barrel, as the company has an Earnings ESP of 0.00% and a Zacks Rank of 4 (Sell) [7][8].

Core Insights - Cracker Barrel is expected to report a quarterly loss of $0.68 per share, marking a significant decline of 251.1% year-over-year [1] - Revenue projections are around $802 million, slightly above the anticipated $801 million, but still reflecting a 5.2% year-over-year decrease [2] Financial Metrics - The price-to-earnings (P/E) ratio is approximately 13.63, indicating a moderate valuation, while the price-to-sales ratio is about 0.18, suggesting the stock is undervalued [3] - The enterprise value to sales ratio is around 0.51, and the enterprise value to operating cash flow ratio is approximately 8.09, providing insights into valuation and cash flow efficiency [4] - The earnings yield stands at 7.34%, indicating a reasonable return on investment for shareholders [4] Liquidity and Financial Health - The current ratio of 0.50 suggests potential liquidity issues, indicating the company may struggle to cover its short-term liabilities [5] - Investors are expected to closely monitor the upcoming earnings release to assess the company's financial health and future prospects [5]

Core Insights - Cracker Barrel Old Country Store (CBRL) is expected to report a quarterly loss of -$0.68 per share, a decline of 251.1% year-over-year, with revenues forecasted at $801.06 million, down 5.2% from the previous year [1] Earnings Estimates - There has been no revision in the consensus EPS estimate for the quarter over the past 30 days, indicating that analysts have not changed their initial projections [2] - Changes in earnings estimates are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate revisions and short-term stock price performance [3] Revenue Projections - Analysts predict 'Revenues- Retail' will reach $152.64 million, reflecting a year-over-year decrease of 5.7% [4] - The consensus for 'Revenues- Restaurant' is $648.49 million, indicating a decline of 5.1% year-over-year [5] Company Metrics - The estimated number of 'Company-Owned Units - Cracker Barrel' is projected to be 657, down from 660 in the same quarter last year [5] - Analysts project the 'Number of stores - Total (End of Period)' will reach 717, compared to 658 a year ago [5] Stock Performance - Cracker Barrel shares have decreased by 12.4% over the past month, contrasting with a slight increase of 0.1% in the Zacks S&P 500 composite [6] - The company holds a Zacks Rank 4 (Sell), suggesting it is expected to underperform the overall market in the near future [6]

Company Overview - Cracker Barrel Old Country Store, Inc. is a prominent American chain that combines restaurant and gift store experiences with a Southern country theme, operating across the United States [1] - The company competes with other casual dining chains such as Denny's and IHOP [1] Recent Trading Activity - On November 28, 2025, Tim Moore, a representative from North Carolina, sold shares of Cracker Barrel valued between $15,001 and $50,000, as part of broader trading activities that included other companies [2][6] - The current stock price of Cracker Barrel is $28.86, reflecting a slight increase of $0.22 or approximately 0.77% [3][6] Stock Performance - Over the past year, Cracker Barrel's stock has experienced significant volatility, with a high of $71.93 and a low of $25.62, indicating sensitivity to market changes and company performance [4][6] - The company's market capitalization is approximately $642.67 million, representing the total market value of its outstanding shares [4] - The trading volume on the NASDAQ exchange for Cracker Barrel is 996,729 shares, indicating the liquidity of the stock [5]