Welcome to our dedicated page for Cracker Barrel Old Country Store, Inc,. news (Ticker: CBRL), a resource for investors and traders seeking the latest updates and insights on Cracker Barrel Old Country Store, Inc,. stock.
Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL), founded in 1969 in Lebanon, Tennessee, is a unique blend of restaurant and retail. Offering a home-away-from-home experience, Cracker Barrel welcomes guests with genuine hospitality and serves up hearty, home-style country meals. The menu features traditional favorites like meatloaf, homemade chicken n’ dumplings, and signature biscuits made from an old family recipe.
Beyond its restaurant offerings, Cracker Barrel also operates an authentic Old Country Store, providing a nostalgic shopping experience with unique gifts and self-indulgent items. The combination of dining and retail contributes significantly to the company's revenue, with apparel and accessories being the top earners in the retail segment.
Cracker Barrel has established a strong presence, operating over 660 company-owned locations across 45 states, each designed to reflect America’s country heritage. The stores are open daily, serving breakfast, lunch, and dinner, ensuring that guests can enjoy their favorite meals any time of the day.
The company has been making notable strides in enhancing its guest experience and operational performance. Recent initiatives include the launch of the Cracker Barrel Rewards loyalty program, which has seen enthusiastic customer participation. In addition, Cracker Barrel continues to innovate its menu, recently introducing the Golden Carolina BBQ Tenders, available exclusively through DoorDash before their nationwide release.
Financially, Cracker Barrel reported a total revenue of $823.8 million in the first quarter of fiscal 2024, with a slight decrease compared to the prior year. Despite challenges such as higher labor costs and operating expenses, the company remains committed to improving its performance and delivering value to its shareholders. It has also announced a quarterly dividend of $1.30 per share, payable on February 13, 2024.
Looking ahead, Cracker Barrel is focused on its strategic transformation plan to drive relevancy and profitability. This includes investing in organic growth, enhancing the guest experience, and addressing macroeconomic challenges like inflation and consumer confidence. The company remains optimistic about its future, leveraging its iconic brand and strong foundation to navigate the evolving market landscape.
For more detailed financial information and latest updates, visit crackerbarrel.com.
Cracker Barrel Old Country Store reported its fiscal 2021 fourth quarter results, with revenue of $784.4 million, stable compared to 2019. Comparable restaurant sales decreased 6.8%, while retail sales surged 18.2%. Off-premise restaurant sales grew 108.6%, contributing 19% of total sales. GAAP net income was $36.4 million, or $1.53 per diluted share. The board declared a $1.30 dividend and authorized a $100 million share repurchase. Due to COVID-19 uncertainties, the company did not provide earnings guidance for fiscal 2022, expecting commodity and wage inflation and plans to open new locations.
Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) will host a webcast of its fourth quarter earnings conference call on September 21, 2021, at 11:00 a.m. Eastern Time. The call will cover the financial results for the fiscal fourth quarter ended July 30, 2021. A replay will be available starting at 2:00 p.m. Eastern Time on the same day until October 5, 2021. The company operates over 660 locations and owns Maple Street Biscuit Company, reflecting its extensive reach in the hospitality industry.
On August 17, 2021, Cracker Barrel Old Country Store surprised patrons at its 663 locations by providing free breakfast as part of its Care It Forward initiative. Guests dining between 7-8 a.m. received a note informing them that their meal was complimentary, encouraging them to perform acts of kindness. Rising country artist Brittney Spencer participated by surprising fans in Nashville. Cracker Barrel aims to inspire goodwill and connection within communities through various acts of kindness and partnerships with musicians.
Cracker Barrel Old Country Store has launched its Care It Forward initiative on June 22, 2021, aimed at fostering care and connection post-pandemic. The initiative includes acts of care for guests, such as in-store surprises and a musical content series featuring artists like Shane McAnally and CeCe Winans. Additionally, the company surprised guests with over $30,000 in gift cards to promote acts of kindness. This campaign emphasizes the importance of community care and invites participants to share their stories using #CareItForward.
Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) announced a private offering of $275 million in 0.625% convertible senior notes due 2026, with an option for initial purchasers to acquire an additional $25 million. The notes mature on June 15, 2026, with interest payable semi-annually beginning December 15, 2021. Proceeds are estimated at $266.8 million for debt repayment and corporate purposes, including a $35 million stock repurchase. The conversion price is set at about $188.14, reflecting a 25% premium over the last closing price.
Cracker Barrel Old Country Store (CBRL) plans to offer $275 million in convertible senior notes due June 15, 2026. The notes will be offered to qualified institutional buyers and may allow an additional $25 million in notes. Proceeds will fund entering into hedge transactions and repaying some of its revolving credit facility. Concurrently, up to $35 million of common stock is expected to be repurchased. These transactions may impact the trading price of Cracker Barrel's common stock. The offering is subject to market conditions and regulatory compliance.
Cracker Barrel reported strong financial results for Q3 FY2021, with total revenue of $713.4 million, up 64.9% year-over-year. Comparable store restaurant sales decreased 8.6% while retail sales increased 10.8%. Off-premise sales surged 144%, contributing 23% to total restaurant sales. Operating income was $52.5 million (7.4% of revenue) and GAAP net income reached $33.5 million. The company declared a quarterly dividend of $1.00 per share. For Q4, Cracker Barrel expects revenues to remain flat compared to Q4 FY2019 amid inflationary pressures.
Cracker Barrel Old Country Store will host an online, real-time webcast of its fiscal third quarter earnings conference call on May 25, 2021, at 11:00 a.m. ET. The call will cover financial results for the quarter ending April 30, 2021. Investors can access the live broadcast on the company’s website, with a replay available from 2:00 p.m. ET on the same day until June 8, 2021. Founded in 1969, Cracker Barrel operates over 660 locations and owns the fast-casual Maple Street Biscuit Company.
FAQ
What is the current stock price of Cracker Barrel Old Country Store, Inc,. (CBRL)?
What is the market cap of Cracker Barrel Old Country Store, Inc,. (CBRL)?
What is Cracker Barrel Old Country Store, Inc. known for?
Where is Cracker Barrel headquartered?
How many locations does Cracker Barrel operate?
What recent initiatives has Cracker Barrel launched?
What is the composition of Cracker Barrel's revenue?
What are the operating hours of Cracker Barrel locations?
What are Cracker Barrel's current financial highlights?
What is Cracker Barrel’s strategy for future growth?
How can I get more information about Cracker Barrel's financial performance?
What partnerships does Cracker Barrel have?
