Cracker Barrel expects annual results above forecast, sells part of Maple Street chain

In its business update on Monday, Cracker Barrel reported a 2.5% decline in comparable store restaurant sales through the first 11 weeks of its fourth quarter, and a rise of 0.5% in comparable store retail sales.

Visits to Cracker Barrel stores had taken a hit right after the company drew criticism from conservatives, including U.S. President Donald Trump, for its decision to change its decades-old logo of the image of an overalls-clad man known as "Uncle Herschel" leaning against a barrel.

• The company completed the sale of certain assets used in its Maple Street Biscuit Company business, including the MSBC trademark and 35 MSBC locations to Louisville, Kentucky-based Biscuit Belly.
• With that, it announced that the remaining 16 MSBC locations would be closed.
• It also completed a sale-leaseback transaction with an institutional real estate investor for 26 company-owned Cracker Barrel store locations, generating net proceeds of about $77 million.
• Cracker Barrel now expects to achieve or exceed the high end of its revenue range and exceed its adjusted EBITDA outlook for fiscal 2026.
• The company had said in June it expects annual revenue of $3.27 billion to $3.30 billion, and adjusted EBITDA of $120 million to $125 million.

Cracker Barrel Old Country Store said on Monday it expects to top its previous annual revenue and core profit forecasts, and that it divested part of its Maple Street Biscuit business.

The casual dining chain's shares, which have more than doubled so far this year, were up nearly 5% in extended trading.