Cracker Barrel Old Ctry Store Stock Price, News & Analysis

Cracker Barrel Old Country Store announced new menu additions for fall, featuring limited-time items like Kick'n Ranch Fried Chicken, Broccoli Cheese Casserole, and new shareable options, including Country Fried Pickles and White Cheddar Cheese Bites. The Kick'n Ranch Fried Chicken, available until Oct. 9, offers bold flavors with ranch seasoning. Pair with new Peach Mimosa and seasonal desserts. The menu aims to provide guests with diverse, flavorful choices at competitive prices, enhancing the overall dining experience.

Cracker Barrel Old Country Store expands its all-day breakfast menu with the introduction of a Build Your Own Homestyle Breakfast option, allowing greater customization. New offerings include the plant-based Impossible Sausage and a Stuffed Cheesecake Pancake Breakfast. The menu encourages personalization with various meat and side upgrades starting at $8.99. Cracker Barrel aims to enhance guest experience by catering to diverse preferences. New beverage pairings are also available, including a summer-themed Rocket Pop Mimosa.

Cracker Barrel reported third quarter fiscal 2022 total revenue of $790.2 million, a 10.8% increase year-over-year. Comparable store restaurant sales rose 10.9%, while retail sales increased 9.7%. The company's GAAP net income was $27.5 million, a 17.8% decrease from the prior year. The board declared a quarterly dividend of $1.30 per share and approved a $200 million share repurchase program. Despite a challenging macro environment, the company remains optimistic for future growth with new strategic initiatives.

Biglari Capital Corp. released a letter to Cracker Barrel Old Country Store shareholders, expressing concerns over the company's ongoing underperformance, with a 33.2% decline in total shareholder return over the past year compared to peers. The letter criticizes management's failure to address customer traffic issues and the expansion plans despite existing operational inefficiencies. It calls for leadership change, specifically replacing CEO Sandy Cochran, and suggests implementing a substantial share repurchase program or special dividend to enhance shareholder value.

Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) will host a third quarter earnings conference call on June 7, 2022 at 11:00 a.m. ET. This call will discuss financial results for the fiscal third quarter ended April 29, 2022. The live webcast will be accessible via the company's website, with a replay available until June 21, 2022.

Cracker Barrel operates over 660 locations and owns Maple Street Biscuit Company.

Cracker Barrel Old Country Store launches a new Homestyle Chicken Sandwich under its virtual brand Chicken n' Biscuits, available at 400 locations nationwide through delivery services like DoorDash, Uber Eats, and Grubhub. This new sandwich features hand-breaded fried chicken, pickles, and a brioche bun, accompanied by steak fries. The brand aims to compete in the growing chicken sandwich market, offering various comfort food options for customers. Chicken n' Biscuits has recently expanded its presence and rebranded since its introduction in May 2021.

Cracker Barrel Old Country Store has announced the return of its popular Easter Heat n' Serve meals, perfect for hassle-free family gatherings this spring. Notable offerings include the Easter Prime Rib Heat n' Serve Family Dinner starting at $124.99, serving 4-6 people, and the Easter Ham Heat n' Serve Feast for 8-10 guests, starting at $149.99. Customers can pre-order these meals online for pickup from April 14-17. The menu aims to cater to budget-conscious families while delivering quality, homestyle options.

Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) has announced a quarterly dividend of $1.30 per share. This dividend is payable on May 3, 2022, to shareholders recorded on April 18, 2022. Established in 1969, Cracker Barrel operates over 660 locations across 45 states, alongside the Maple Street Biscuit Company. This regular dividend highlights the company's commitment to returning value to shareholders and reflects its ongoing operational stability.