Cracker Barrel Old Ctry Store Stock Price, News & Analysis

Biglari Capital (NASDAQ:CBRL) urged Cracker Barrel shareholders on Nov 13, 2025 to vote AGAINST the re-election of certain directors via a GOLD proxy card, arguing the board's transformation plan has failed and that current leadership has destroyed over $1 billion of market value.

The statement cites a 30% share-price decline since Oct 7, 2025, a 70% five-year share-price decline, and persistently high short interest (~25% of float), and discloses that Biglari Capital filed a definitive proxy statement and GOLD proxy card with the SEC to solicit votes at the upcoming 2025 annual meeting.

Cracker Barrel (NASDAQ: CBRL) faces an activist proxy campaign: Egan-Jones recommends shareholders vote AGAINST CEO Julie Masino and four long-tenured directors at the November 20, 2025 annual meeting, backing Biglari Capital's GOLD proxy card.

Key cited metrics include TSR -70% since 2020, net income down ~80% in FY2025, operating expenses +31% since 2017 vs revenue +19%, market cap ~50% decline since Masino's appointment, guest traffic down 3% in FY2025 and FY2026 guidance of $3.35–$3.45B revenue with traffic -4–7%.

Cracker Barrel (NASDAQ:CBRL) will honor veterans on November 11, 2025 by offering a complimentary Sunrise Pancake Special to veterans and active-duty military at nearly 660 locations (dine-in only, proof of service required).

Separately, the Cracker Barrel Old Country Store Foundation will run an inaugural "30 Charities in 30 Days" initiative in November, donating a total of $150,000 via daily $5,000 grants to veteran-focused nonprofits selected by 30 veterans nationwide. Promotional discounts (25% off) on select Duke Cannon and military-themed merchandise run through 11/11/25.

Cracker Barrel (CBRL) launches its 2025 limited-edition holiday menu starting October 21, 2025, featuring returning favorites — Country Fried Turkey, Cinnamon Swirl French Toast, and Turkey Sausage — plus a new Breakfast Burger.

Seasonal sides and limited Heat & Serve holiday meals are available for pre-order; Heat & Serve starts at $114.99 with Thanksgiving pickups available Nov 22–30. The company also rolled out enhanced kitchen and manager training and refreshed Old Country Store holiday merchandise nationwide.

Cracker Barrel (NASDAQ: CBRL) announced organizational and leadership changes on October 2, 2025 to sharpen focus on food and guest experience.

Key moves: Doug Hisel promoted to SVP, Store Operations overseeing Field Operations and Operations Services; the prior SVP Chief Restaurant and Retail Operations Officer role held by Cammie Spillyards-Schaefer was eliminated. Thomas Yun returns as VP, Menu Strategy & Innovation, replacing Matthew Banton. Heather Hager and Heather Gammon expand roles to absorb responsibilities of retiring Laura Daily, SVP Chief Merchant and Retail Supply Chain. The company ended its engagement with consultancy Prophet.

Cracker Barrel (NASDAQ: CBRL) reported its Q4 and full fiscal 2025 results, showing mixed performance. Q4 revenue was $868.0 million, with comparable store restaurant sales up 5.4% but retail sales down 0.8%. Q4 adjusted earnings per share were $0.74, down from $0.98 year-over-year.

For full fiscal 2025, the company achieved total revenue of $3.48 billion and adjusted EBITDA of $224.3 million, a 9% increase year-over-year excluding the 53rd week impact. The company announced a quarterly dividend of $0.25 per share and a new $100 million share repurchase program.

Looking ahead to fiscal 2026, Cracker Barrel expects revenue between $3.35-3.45 billion, with plans to close 14 Maple Street units and open 2 new Cracker Barrel stores. The company projects comparable store traffic decline of 4-7% and adjusted EBITDA of $150-190 million.

Cracker Barrel Old Country Store (Nasdaq: CBRL) has announced its upcoming fiscal 2025 fourth quarter earnings conference call, scheduled for September 17, 2025, at 5:00 p.m. Eastern Time. During the call, management will discuss financial results for the quarter ended August 1, 2025.

The company will provide a live webcast of the conference call through the Events and Presentations section of their investor relations website at investor.crackerbarrel.com. An online replay will be available following the live broadcast.

Cracker Barrel (Nasdaq: CBRL) has launched a new fall creative campaign titled "All the More" featuring country music star Jordan Davis. The campaign celebrates the brand's 55+ years of country hospitality while introducing refreshed elements including new menu items, restaurant remodels, and an enhanced brand identity.

The initiative includes a refreshed visual identity anchored in Cracker Barrel's signature gold and brown tones, the fifth evolution of the brand's logo, and a nationwide promotion offering a free Classic Side with any purchase from August 23-24, 2025. The campaign launches with new seasonal menu items across breakfast, lunch, and dinner, including the return of fan-favorite Uncle Herschel's Favorite® and new offerings like Hashbrown Casserole Shepherd's Pie.

Cracker Barrel (CBRL) has announced the pricing of $300 million convertible senior notes due 2030, upsized from the previously announced $275 million. The notes will carry a 1.75% interest rate, payable semi-annually, and mature on September 15, 2030. The initial conversion price is set at $72.23 per share, representing a 32.5% premium over the last reported stock price of $54.51. The company expects net proceeds of approximately $290.1 million, which will be used to enter into capped call transactions ($14.3 million), repurchase $150 million of existing 2026 convertible notes, and for general corporate purposes. The notes will be convertible under certain conditions before March 15, 2030, and freely convertible thereafter. Cracker Barrel has also entered into capped call transactions to reduce potential dilution with a cap price of $87.22.