Business
CRACKER BARREL REPORTS SECOND QUARTER FISCAL 2025 RESULTS AND INCREASES GUIDANCE
Company now expects fiscal 2025 adjusted EBITDA1 of $210 million to $220 million2 LEBANON, Tenn., March 6, 2025 /PRNewswire/ -- Cracker Barrel Old Country
About this update from Cracker Barrel Old Country Store, Inc.
[{"type":"text","content":"Company now expects fiscal 2025 adjusted EBITDA1 of $210 million to $220 million2\nLEBANON, Tenn., March 6, 2025 /PRNewswire/ -- Cracker Barrel Old Country Store, Inc. (\"Cracker Barrel\" or the \"Company\") (Nasdaq: CBRL) today reported its financial results for the second quarter of fiscal 2025 ended January 31, 2025.\nSecond Quarter Fiscal 2025 Highlights\nSecond quarter total revenue was $949.4 million. Compared to the prior year second quarter, total revenue increased 1.5%.Comparable store restaurant sales increased 4.7% over the prior year quarter, and comparable store retail sales increased 0.2%.GAAP earnings per diluted share were $0.99, and adjusted1 earnings per diluted share were $1.38.GAAP net income for the second quarter was $22.2 million, a 16.3% decrease compared to the prior year quarter GAAP net income of $26.5 million. Adjusted EBITDA1 was $74.6 million, a 19.6% increase compared to the prior year quarter adjusted EBITDA1 of $62.4 million.Commenting on the second quarter results, Cracker Barrel President and Chief Executive Officer Julie Masino said, \"Outstanding execution by our teams, coupled with our actions to improve the profitability of our off-premise channels during the high-volume holiday season, delivered strong second quarter results that exceeded our expectations. Despite some recent industry-wide softness, these results, together with the continued improvements in key guest and operational metrics and the initiatives we have planned for our important fourth quarter, make us confident in raising our financial outlook for the remainder of the year.\"\nSecond Quarter Fiscal 2025 ResultsRevenue The Company reported total revenue of $949.4 million for the second quarter of fiscal 2025, representing an increase of 1.5% compared to the second quarter of fiscal 2024.\nCracker Barrel comparable store restaurant sales increased 4.7%, including total menu pricing increases of 6.0%. Comparable store retail sales increased 0.2% from the prior year quarter.\nNet Income, EBITDA, and Earnings per Diluted ShareGAAP net income for the second quarter was $22.2 million, or 2.3% of total revenue. This represented a 16.3% decrease compared to prior year quarter GAAP net income of $26.5 million, or 2.8% of total revenue. Adjusted EBITDA1 was $74.6 million, or 7.9% of total revenue, a 19.6% increase compared to the prio...