Business Overview
Cracker Barrel Old Country Store, Inc. operates and develops Cracker Barrel Old Country Store locations throughout the United States, combining restaurant and retail operations. During the nine months ended May 1, 2026, the company faced revenue headwinds with total revenue declining to $2,469.4 million compared to $2,615.7 million in the prior year period, while managing operating challenges including impairment and store closing costs.
Segment Performance
The filing does not provide segment-level revenue or income breakouts. Overall company performance shows nine months ended May 1, 2026 revenue of $2,469.4 million versus $2,615.7 million in prior year (a 5.6% decline). Operating income (loss) was $(25.6) million versus $51.1 million in the prior year, significantly impacted by impairment and store closing costs of $3.9 million. However, net income of $19.5 million was achieved in nine months 2026 versus $39.6 million in prior year, partly due to $47.4 million litigation settlement income in the current period.
Key Risk Factors
The company faces several material risks including debt maturity obligations (2026 Notes maturing June 2026), leverage constraints requiring maintenance of consolidated total leverage ratios under debt covenants, operational challenges reflected in declining revenues and operating losses in the nine-month period, and restrictions on capital allocation with dividend and share repurchase limitations tied to leverage ratios and cash availability thresholds.
