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Financial Insights from Cracker Barrel's Fiscal 2025 Report

Introduction
Cracker Barrel Old Country Store, Inc., known for its inviting atmosphere and homestyle cooking, released its results for the fourth quarter and full year of fiscal 2025 on September 17, 2025. The report provides crucial insights into the company’s financial performance and growth strategies, evidencing resilience in a challenging market landscape.

Fourth Quarter Highlights
For the fourth quarter, Cracker Barrel reported total revenues of $868.0 million. Although this reflects a 2.9% decrease from the previous year, it's worth noting that adjusting for the unique benefit of a 53rd week in the preceding fiscal year, revenues actually increased by 4.4%. This performance underscores the restaurant's ability to adapt despite external economic pressures.

Comparable store restaurant sales saw a 5.4% increase compared to the same quarter last year, despite the retail sales exhibiting a slight decline of 0.8%. The adjusted earnings per diluted share were $0.74, with net income at $6.8 million, which while lower than the $18.1 million reported last year, reflects adjustments surrounding the 53rd-week benefits from the previous financial year.

The adjusted EBITDA for the quarter stood at $55.7 million, slightly down from $57.4 million in the prior year, but increased by 8.0% when considering the previous year’s adjustments. This growth comes from strategic pricing enhancements and effective cost management, especially in labor productivity.

Full Year Overview
For the entirety of fiscal 2025, Cracker Barrel achieved total revenues of $3.48 billion, marking a modest increase of 0.4% year-over-year. However, similar to quarterly results, when adjusted for the previous year's 53rd week impact, the growth stands at 2.2%. The full-year net income rose to $46.4 million, up from $40.9 million, indicating a healthier bottom line driven by operational efficiencies and strategic investments.

The adjusted EBITDA for the full year was reported at $224.3 million, reflecting a 9.0% increase after accounting for the prior year's extraordinary impacts. Cracker Barrel made significant capital investments of $158.6 million, focusing on store maintenance and technology initiatives, a decision that reiterates its commitment to enhancing customer experience while preparing for future growth.

Looking Ahead: Fiscal Year 2026 Outlook
As Cracker Barrel looks forward, the management is optimistic about the future, presenting a guidance estimate for fiscal 2026. Expected total revenues are projected to be between $3.35 billion to $3.45 billion, with a comparable store traffic decline forecasted at 4% to 7%. The company anticipates an adjusted EBITDA of $150 million to $190 million, revealing a strategic and cautious approach, particularly in light of projected commodity and labor inflation.

To manage its capital effectively, Cracker Barrel plans $135 million to $150 million in capital expenditures primarily for maintenance across existing locations, along with 2 new store openings in the upcoming fiscal year.

Conclusion
The fiscal report for Cracker Barrel showcases a company navigating a competitive landscape while striving to maintain its longstanding reputation for quality and homestyle service. With feedback from patrons being integrated into their operations and strategic focus on maintaining momentum, Cracker Barrel is well-positioned to deliver enhanced value in the coming years. Investors and customers alike can expect further innovation and commitment to quality as the company continues to uphold its legacy of southern hospitality.

About Cracker Barrel Old Country Store®
Since its inception in 1969, Cracker Barrel has served millions with its down-home cooking and unique retail offerings, remaining a beloved fixture in American dining culture. With a presence in 43 states and 660 locations, Cracker Barrel continues to prioritize the experience of every guest who walks through its doors.