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Cracker Barrel Old Country Store (Nasdaq: CBRL) announced updates on its strategic transformation plan and capital allocation. The plan focuses on refining the brand, optimizing the menu, enhancing the store and guest experience, leveraging digital and off-premise channels, and elevating employee experience. To support these initiatives, the company is reducing its quarterly dividend to $0.25 per share. The long-term outlook includes anticipated sales of $3.8-3.9 billion and adjusted EBITDA of $375-425 million by fiscal 2027. However, near-term financial results for fiscal 2024 are expected to be below prior expectations due to weaker traffic. Capital expenditures are projected to be $600-700 million over the next three years. The company aims for moderate EBITDA growth in fiscal 2025, acceleration in late fiscal 2026, and significant growth by fiscal 2027.
Cracker Barrel Old Country Store (Nasdaq: CBRL) will host a live webcast for its fiscal 2024 third quarter earnings conference call on May 30, 2024, at 11:00 a.m. ET. The call will cover financial results for the period ending April 26, 2024. The webcast will be accessible on the company's investor relations website, with a replay available from 2:00 p.m. ET on the same day through June 14, 2024. Founded in 1969, Cracker Barrel operates around 660 locations and owns Maple Street Biscuit Company.
Cracker Barrel launches a flavor-packed summer menu with exclusive new Bee Sting Fried Chicken items, including Bee Sting Chicken Tenders and Sandwich, available until Aug. 4. The menu features a new house-made sauce with a delightful blend of heat and honey sweetness, along with other new items like Watermelon Lemonade and New York Strip Steak. The company aims to provide craveable homestyle meals for breakfast, lunch, and dinner throughout the summer.
Cracker Barrel Old Country Store, Inc. announces a strategic transformation plan update conference call scheduled for May 16, 2024. The company will provide a live webcast and a replay for public viewing. Established in 1969, Cracker Barrel operates 660 locations and owns Maple Street Biscuit Company.
Cracker Barrel celebrates National Buttermilk Biscuit Day by offering free biscuits to guests at their stores. A recent survey by Cracker Barrel reveals interesting state-by-state data on biscuit preferences, with butter and gravy being the top choices, but some states preferring bacon, sausage, eggs, or jelly/jam toppings. The survey also highlights that most Americans enjoy biscuits at any time of the day, with a preference for both sweet and savory toppings. Cracker Barrel's handmade buttermilk biscuits are made fresh daily and can be enjoyed in-store or made at home using their Homemade Biscuit + Dumpling Mix. The survey found that the South has a strong love for buttermilk biscuits, while Massachusetts had the lowest percentage of people claiming they could eat biscuits every day. Overall, the survey shows that buttermilk biscuits are well-loved across all 50 states.