Inflation and purchase price volatility
Higher food, labor and merchandise costs may not be fully offset by pricing or productivity actions.
- Scope
- Restaurant and retail margins
- Materiality
- high
Cracker Barrel Old Country Store, Inc
Cracker Barrel Old Country Store, Inc. operates a distinctive restaurant-and-retail concept built around full-service country-style dining paired with a gift shop in each freestanding store. Founded in 1969 and headquartered in Lebanon, Tennessee, the company serves breakfast, lunch and dinner while also selling nostalgic merchandise such as rocking chairs, apparel, toys, food items and seasonal gifts. As of September 12, 2025, it operated 657 Cracker Barrel stores across 43 states and 68 Maple Street Biscuit Company locations in 10 states. The business is designed to attract both highway travelers and local guests, using its roadside footprint, porch seating and brand familiarity to drive repeat traffic and retail attachment. In addition to the core Cracker Barrel concept, the company owns Maple Street Biscuit Company, a breakfast-and-lunch fast casual format that broadens its exposure to a different daypart and guest occasion.
5,1 %
69,0 %
1,3 %
+0,4 %
0.50
0.21
| % | |
|---|---|
| Restaurant food service | 81% Home-style country cooking served through Cracker Barrel restaurants and Maple Street Biscuit Company locations. |
| Retail gift shop merchandise | 19% In-store retail items sold alongside the restaurant, including apparel, toys, décor, gifts and cookware. |
Cracker Barrel serves two core guest groups: travelers using interstate corridors and local customers who visit for...
- Travelers and interstate trafficprimary
Guests stopping along interstate highways for convenient meals and a recognizable roadside experience.
- Local family dining guestsprimary
Nearby customers who visit for breakfast, lunch or dinner and value the brand's comfort-food positioning.
- Retail add-on shoppersprimary
Restaurant guests who also buy apparel, toys, décor, food gifts and seasonal merchandise in the store.
- Digital ordering and delivery customerssecondary
Guests using pick-up, delivery, e-commerce and catering channels for convenience and off-premise occasions.
- Maple Street Biscuit Company guestssecondary
Breakfast and lunch customers seeking a fast casual biscuit-focused concept and a different daypart.
The company is overwhelmingly U.S.-focused, with all disclosed operations located in the United States...
- •All operations are in the United States
- •Cracker Barrel stores span 43 states and are concentrated on interstate corridors
- •About 83% of Cracker Barrel locations are along interstate highways
- •Maple Street Biscuit Company operates in 10 states
- •No meaningful international revenue or manufacturing footprint is disclosed
Management's stated long-term strategy is anchored on three imperatives: driving relevancy, delivering food and...
01
Drive relevancyshort-term
The brand must stay culturally relevant to sustain traffic from both travelers and local guests.
02
Deliver food and experiences guests lovemedium-term
Guest satisfaction is central to repeat visits, restaurant traffic and retail attachment.
03
Grow profitabilitymedium-term
Higher profitability depends on better mix, productivity and disciplined capital allocation.
The business is exposed to food, labor and merchandise inflation, which can compress margins if price increases do not...
Supplier concentration and supply chain disruption
Some products or services may have only one supplier, creating shortage and cost risk.
- Scope
- Food, retail merchandise and store operations
- Materiality
- high
Inventory valuation and merchandising execution
Long lead times and changing consumer preferences can cause markdowns, shortages or shrinkage.
- Scope
- Retail gift shop assortment
- Materiality
- high
Store-level underperformance and impairment
Weak unit economics can lead to impairment charges, closure costs and reduced returns on capital.
- Scope
- Cracker Barrel and Maple Street Biscuit Company locations
- Materiality
- high
Cybersecurity and third-party payment processing
Card data and guest information are handled by third parties, increasing breach and outage exposure.
- Scope
- Digital payments and guest data
- Materiality
- medium
Retail inventory valuation
Gross margin and working capital
Impairment of long-lived assets
Operating income and asset values
Lease accounting
Balance sheet leverage and operating expense
Insurance reserves
Earnings volatility and cash flow
Mondelez International, Inc.
MDLZ · Food and Kindred Products
Mondelez International makes and markets branded snack foods, with a portfolio centered on biscuits and baked snacks, chocolate, gum and candy, and selected beverages and grocery items.
BJs RESTAURANTS INC
BJRI · Retail-Eating Places
BJ’s Restaurants operates a national chain of full-service restaurants built around a broad menu, a high-energy dining atmosphere, and its proprietary craft beer program.
Maplebear Inc.
CART · Services-Business Services, NEC
SPAR Group, Inc.
SGRP · Services-Business Services, NEC
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BJ · Retail-Variety Stores
CAMPBELL'S Co
CPB · Food and Kindred Products
The Campbell's Company is a U.S.-based manufacturer and marketer of branded food and beverage products with roots in the food business dating back to 1869.
: 11/08/2026