Cracker Barrel Sheds Maple Street Brand and Executes Real Estate Sale

The strategic pivot marks a retreat from the biscuit-focused chain, which accounted for less than 2% of the company’s annual revenue. This divestiture will trigger non-cash charges between $37 million and $39 million in the fiscal fourth quarter, alongside additional cash costs of up to $8 million. Despite these expenses, management expects the move to improve adjusted EBITDA starting in fiscal 2027 by sharpening the focus on the core Cracker Barrel brand.

Simultaneously, the company completed a sale-leaseback for 26 of its own store locations. Beyond the $77 million in proceeds, the deal provides tax efficiencies by leveraging capital loss carryforwards. CEO Julie Masino stated that these moves are designed to manage the balance sheet with discipline, positioning the company for long-term growth. Amid these changes, Cracker Barrel raised its fiscal 2026 profitability outlook, signaling that it expects to exceed the high end of its previous revenue and adjusted EBITDA guidance.