Cracker Barrel Boosts Sales with Holiday Promotions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 19 2024
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Should l Buy CBRL?
Source: PRnewswire
Cracker Barrel Old Country Store Inc saw a price increase of 5.07%, crossing above its 5-day SMA, as the company launched a holiday promotion offering free toys with kids' meals. This initiative aims to attract families during the festive season and enhance the overall dining experience.
In addition to the toy promotion, Cracker Barrel introduced a 'Meals for Two' special and convenient 'Holiday Heat & Serve' meals, designed to cater to family gatherings and alleviate holiday stress. These efforts are expected to drive customer spending and strengthen brand loyalty during a challenging market environment.
Despite recent revenue declines, these promotional strategies may help improve customer traffic and sales, positioning Cracker Barrel favorably as it navigates through ongoing market challenges.
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Analyst Views on CBRL
Wall Street analysts forecast CBRL stock price to rise
8 Analyst Rating
1 Buy
4 Hold
3 Sell
Hold
Current: 27.860
Low
20.00
Averages
28.86
High
45.00
Current: 27.860
Low
20.00
Averages
28.86
High
45.00
About CBRL
Cracker Barrel Old Country Store, Inc. is engaged in the operation and development of the Cracker Barrel Old Country Store concept (Cracker Barrel). It operates approximately 660 company-owned Cracker Barrel Old Country Store locations in 43 states and 68 Maple Street Biscuit Company stores in 10 states. The Company’s format of its stores consists of a trademarked rustic old country-store design offering a full-service restaurant menu that features home-style country food and a wide variety of decorative and functional items such as rocking chairs, holiday and seasonal gifts, toys, apparel, cookware and foods. Its breakfast items include juices, eggs, pancakes, meats, grits, and a variety of biscuit specialties, such as gravy and biscuits and country ham and biscuits. Its Lunch and dinner items include fried and grilled chicken, chicken and dumplings, meatloaf, country fried steak, pork chops, fish, country fried shrimp, steak, vegetable plates, sandwiches and salads.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Earnings Beat: The adjusted earnings per share came in at $0.25, surpassing the analyst estimate of -$0.22, although it significantly dropped from $1.38 in the same quarter last year, suggesting some success in cost management.
- EBITDA Guidance Cut: The company narrowed its full-year adjusted EBITDA outlook to $85 million–$100 million, down from a previous range of $70 million–$110 million, reflecting a cautious outlook on future performance.
- Analyst Price Target Adjustments: Following the earnings announcement, several analysts adjusted their price targets for Cracker Barrel, with UBS raising its target from $26 to $31, Truist Securities from $45 to $47, and Wells Fargo from $30 to $35, indicating varied market perspectives on the company's future performance.
See More
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- Dividend Yield: The forward yield of 3.27% reflects the company's appeal in the current market environment, potentially boosting investor confidence and supporting stock price stability.
- Payment Schedule: The dividend will be payable on May 13, with a record date of April 10 and an ex-dividend date also on April 10, ensuring shareholders receive timely returns and further solidifying the relationship between the company and its investors.
- EBITDA Target: Cracker Barrel outlines an adjusted EBITDA target of $85 million to $100 million for 2026, as guest metrics improve and the loyalty program expands, demonstrating the company's confidence in future growth and strategic planning.
See More
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See More
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- Customer Feedback Improvement: Following leadership changes, the Google star rating reached 4.28, the highest since Q2 of fiscal 2020, indicating a 4% to 5% year-over-year increase in food taste, service, and value scores, reflecting a gradual recovery in brand perception.
- Loyalty Program Expansion: The Cracker Barrel Rewards program now boasts over 11 million members, accounting for over 40% of tracked sales, which management views as a crucial tool for driving traffic and fostering long-term customer loyalty and sales growth.
- Cautious Future Outlook: Management anticipates total revenue for fiscal 2026 to be between $3.24 billion and $3.27 billion, despite expectations of an 8.5% to 9.5% decline in traffic, while continuing to focus on cost control and menu innovation to navigate market challenges.
See More
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- Revenue Decline: Cracker Barrel's total revenue for Q2 was $874.8 million, down 7.9% year-over-year and slightly missing the analyst estimate of $876.94 million, indicating challenges in a competitive dining market.
- Same-Store Sales Weakness: Comparable restaurant sales fell by 7.1% and retail sales dropped by 9.2%, reflecting weakened consumer demand that could impact future market share and profitability.
- Adjusted Earnings Performance: Although net income fell to $1.3 million from $22.2 million a year ago, adjusted earnings per share came in at $0.25, beating the analyst estimate of -$0.22, demonstrating some earnings resilience.
- Financial Outlook Adjustment: The company narrowed its fiscal 2026 adjusted EBITDA outlook to $85 million–$100 million, reflecting a cautious approach to future cost control, while declaring a $0.25 quarterly dividend, which bolsters shareholder confidence.
See More
Cracker Barrel (CBRL) Q2 2026 Earnings Transcript
See More
