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- Cracker Barrel Old Country Store (CBRL) said on Monday it expects to achieve or exceed the high end of its revenue range and exceed its adjusted EBITDA outlook.
- The company completed a sale-leaseback of 26 stores and divested its Maple Street Biscuit Company business.
- The restaurant chain said the sale-leaseback generated about $77M in net proceeds, which it plans to use to reduce debt.
- Cracker Barrel also sold the Maple Street Biscuit Company brand and assets for 35 locations to Biscuit Belly and said it will close the remaining 16 locations.
- The company expects non-cash charges of $37M to $39M and cash charges of $6M to $8M tied to the exit.
- The company said it now expects to meet or exceed the high end of its previously forecast revenue range of $3.27B to $3.30B and exceed its adjusted EBITDA outlook of $120M to $125Mfor25M for fiscal 2026.
More on Cracker Barrel
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- Cracker Barrel Old Country Store, Inc. (CBRL) Q3 2026 Earnings Call Transcript
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- Cracker Barrel: D.E. Shaw boosts passive stake to 5.1%
