Cracker Barrel Old Ctry Store Stock Price, News & Analysis

Cracker Barrel Old Country Store reported a strong second quarter for fiscal 2022, with total revenue of $862.3 million, up 27.3% year-over-year. Comparable store restaurant sales increased 1.9%, while retail sales rose 13.7%. GAAP net income was $37.6 million with an EPS of $1.60, a 171% increase from last year. The company anticipates challenges from inflation and reduced demand, expecting approximately $800 million in revenue for the third quarter. However, strong sales momentum and future margin recovery are expected in Q4.

On February 15, 2022, Cracker Barrel Old Country Store announced the expansion of its beverage offerings, adding new wines and limited-time craft drinks. Guests can now enjoy Roscato Moscato and Roscato Sweet Red Wine, alongside Jack Daniel's Country Cocktails Lynchburg Lemonade and non-alcoholic options like Fruit Stand Tea and Fudge Hot Chocolate. These offerings enhance the dining experience at over 500 locations nationwide, further diversifying Cracker Barrel's menu while maintaining affordable pricing of under $6.79 for most items.

Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) is set to host an online webcast of its second quarter earnings conference call on February 22, 2022, at 11:00 a.m. Eastern Time. The call will cover financial results for the fiscal second quarter ending January 28, 2022. A replay will be accessible starting at 2:00 p.m. Eastern Time on the same day until March 8, 2022. Cracker Barrel operates over 660 locations and owns the Maple Street Biscuit Company.

Cracker Barrel Old Country Store is hosting an "Employee Appreciation's On Us Giveaway" from January 31 to February 18 to reward employees in the U.S. for their hard work amid pandemic challenges. Participants can enter to win catering, gift cards, and branded games by sharing stories about deserving co-workers. Ten grand prize winners will receive catering for 50 people and a $250 gift card, while five honorable mentions will get party packs. This initiative aims to recognize employee contributions leading up to National Employee Appreciation Day on March 4.

Cracker Barrel Old Country Store, based in Lebanon, Tenn., will participate in the 2022 ICR Conference, scheduled for January 10-12, 2022. The company's key executives, including CEO Sandy Cochran and CFO Craig Pommells, will present virtually on January 11 at 8:00 AM ET. A live stream of the presentation will be available on their investor website, with a replay accessible for 90 days. Cracker Barrel operates over 660 locations in 45 states and focuses on providing a home-like dining experience and unique shopping options.

Biglari Capital Corp., a shareholder owning 8.7% of Cracker Barrel Old Country Store (CBRL), released a letter highlighting a 32% decline in operating income compared to pre-pandemic levels. The letter criticized management's lack of a credible strategy and questioned the rationale behind spending $120 million on new locations while existing stores underperform. It emphasized the need for management to focus on improving current operations instead of expansion. The letter also called for increased dividends and transparency between management and shareholders.

Cracker Barrel Old Country Store announced its holiday special, "Sounds of the Season: Together Again," featuring Pentatonix and Mickey Guyton. The 30-minute program showcases a mix of classic and new holiday songs, available for streaming on Cracker Barrel's YouTube and Facebook channels starting Dec. 15. The initiative aims to celebrate diverse holiday traditions and bring families together through music during this festive season. The collaboration coincides with Pentatonix's new holiday album, Evergreen, available at Cracker Barrel locations nationwide.

Cracker Barrel Old Country Store (CBRL) reported its Q1 fiscal 2022 results, ending October 29, 2021. Total revenue reached $784.9 million, a 21.4% increase year-over-year. Comparable restaurant sales rose 1.4%, while retail sales surged 17.6%. GAAP net income fell to $33.4 million, down 80.4% from the previous year, yielding GAAP EPS of $1.41. The Board declared a quarterly dividend of $1.30 per share, payable February 1, 2022. The company anticipates better Q2 comparable sales growth, but faces inflationary pressures affecting margins.

On November 15, 2021, Cracker Barrel Old Country Store launched the Cracker Barrel Food for Families initiative to combat food insecurity in America. In partnership with Feeding America, the program aims to provide 1 million meals over the next year, focusing on underserved communities, especially in Middle Tennessee. The initiative includes a social media campaign for additional meal donations. Cracker Barrel emphasizes the critical need for hunger relief, especially heightened by the pandemic, reinforcing its commitment to supporting families and communities in need.