Cracker Barrel Closing 14 Stores: What to Know
Summary
Cracker Barrel announced it will close 14 Maple Street Biscuit Company locations due to financial underperformance. The company has also faced declining sales following a brief rebranding effort and plans to revert to an older logo.Key Facts
- Cracker Barrel will close 14 Maple Street Biscuit Company locations.
- The company acquired Maple Street Biscuit Company in 2019 for $36 million.
- Cracker Barrel faced backlash related to a temporary logo change, affecting sales.
- The company's earnings report showed $868 million in revenue but missed earnings per share expectations.
- CEO Julie Masino said the company will return to its old logo and focus on improving customer experience.
- Store traffic declined by about 8% since the logo change announcement.
- Cracker Barrel projects total revenue to be between $3.35 billion and $3.45 billion for fiscal 2026.
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