Top News

Shares of Cracker Barrel Old Country Store tumbled 9.3% in extended trading on Wednesday, dragging down retail sentiment, after the company reported mixed quarterly results and issued a soft forecast for its current fiscal year ending July 2026.

Add Asianet Newsable as a Preferred Source

The country-theme store and restaurant chain is emerging from a PR crisis. It had to reverse a logo change and has shelved plans to remodel its outlets after backlash from fans, customers, and the White House, criticising what they saw as the company's attempt to surrender the brand's country roots.

The rollback has put a $700-million modernization plan, which the company expects will help Cracker Barrel better compete with diner chains, in jeopardy.

"The choices people have, their expectations around food and experience, the way they travel and their technology have all changed dramatically over the last decade, and the company had not kept pace," CEO Julie Masino said in the post-earnings call.

CFO Craig Pommells noted that customer traffic has fallen around 8% since Aug. 18, when the company changed its logo, before reverting to the old one.

Cracker Barrel's fiscal fourth-quarter revenue declined 3%, below analysts' expectations of a 4.4% decline. Same-store sales rose 5.4%, while adjusted earnings came in at $0.74 per share, missing estimates of $0.77.

The company forecast total revenue of $3.35 billion to $3.45 billion for FY26, also below Wall Street's expectation of $3.52 billion. Cracker Barrel authorized a $100-million share buyback plan.

On Stocktwits, the retail sentiment for CBRL shifted to 'bearish' from 'bullish' the previous day. Message volume surged 390% in the past 24 hours, with user discussion split between an optimistic view, given the stock's attractive price, and a negative view based on future uncertainty.

CBRL stock had fallen 3.2% in Wednesday's session, before the company's quarterly report, and is down 6.2% year-to-date.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<