Sentiment improved as the company raised its fiscal 2026 profit outlook.

  • Cracker Barrel completed a $77 million sale-leaseback deal for 26 restaurants.
  • The company sold the assets of Maple Street Biscuit Company to streamline operations. 
  • Cracker Barrel expects 2026 revenue and adjusted EBITDA to reach or exceed the top end of previous guidance. 

Cracker Barrel Old Country Store Inc. (CBRL) stock is heading toward its fourth straight month of gains after the restaurant chain unveiled a series of moves to strengthen its finances and improve future profitability. 

The company completed a $77 million sale-leaseback transaction, exited much of its Maple Street Biscuit Company business and lifted its fiscal 2026 outlook.

Cracker Barrel Unlocks $77 Million Through Real Estate Deal 

Cracker Barrel said on Monday that it has completed a sale-leaseback agreement with an institutional property investor for 26 company-owned restaurants, generating roughly $77 million in proceeds. 

The company plans to use the funds to reduce debt while benefiting from tax advantages tied to available capital loss carryforwards. The company also sold assets connected to its Maple Street Biscuit Company operations, including the brand trademark and locations associated with 35 restaurants, to Biscuit Belly, LLC. 

Cracker Barrel said it will shut down its remaining 16 Maple Street locations as part of the transition. The divestiture will result in estimated non-cash expenses of about $37 million to $39 million in the fourth quarter of fiscal 2026. 

The company expects additional cash-related costs of approximately $6 million to $8 million extending into fiscal 2027. Despite those charges, Maple Street represented less than 2% of annual revenue and the company expects the move to improve adjusted EBITDA beginning in fiscal 2027. 

"Our sale-leaseback transaction will allow us to opportunistically reduce debt while monetizing a portion of our owned real estate at an attractive valuation. Divesting Maple Street sharpens our focus on the core Cracker Barrel brand and is expected to improve profitability,” said President and CEO Julie Masino.

Cracker Barrel Old Country Store stock inched 0.01% lower in Tuesday’s premarket.

CBRL’s Profit Outlook Improves

Cracker Barrel said it now expects fiscal 2026 revenue and adjusted EBITDA results to meet or surpass the upper end of its previous guidance. The company had previously forecast revenue between $3.27 billion and $3.30 billion and adjusted EBITDA between $120 million and $125 million. According to Fiscal AI data, analysts see a revenue of $3.29 billion. 

During the first 11 weeks of its fiscal fourth quarter, Cracker Barrel’s comparable restaurant sales declined about 2.5% from the prior-year period, while comparable retail sales increased approximately 0.5%. 

CBRL Stock: Retail View 

On Stocktwits, retail sentiment around the stock remained in ‘bullish’ territory 

CBRL stock has gained over 110% year-to-date. 

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