Overview
- Fiscal Q1 revenue fell 5.7% to about $797.2 million with an adjusted loss of $0.74 per share, as comparable restaurant sales declined 4.7% and retail comps dropped 8.5%.
- Full‑year guidance was reduced to $3.20 billion–$3.30 billion in revenue and $70 million–$110 million in adjusted EBITDA, down sharply from prior targets.
- The stock dropped more than 10% after the report and touched its lowest level since 2009, leaving shares down roughly half or more this year.
- After a summer logo change sparked a backlash, the company restored its classic branding, suspended remodels, retrained kitchen teams, and brought back guest favorites, while reports highlighted food‑quality concerns such as chilled biscuits and reheated sides.
- Cracker Barrel is rolling out value promotions to rebuild traffic, including a free toy with kids’ meals through Dec. 24, a weekday Meals for Two starting at $19.99, and holiday Heat & Serve packages, as leadership cautions the recovery will take time.