Cracker Barrel-owned Maple Street Biscuit Company – Business News
Maple Street Biscuit Company, a Cracker Barrel-owned restaurant chain, shuttered more than a dozen areas that fell short of its financial expectations.
Cracker Barrel warned in its earnings call final week that 14 areas can be impacted by the closures during fiscal 2026. However, Cracker Barrel informed FOX Business that it had already closed the areas.
“We appreciate the continued patronage of the many guests who have dined with Maple Street at these 14 locations over recent years and thank our team members for their passionate dedication to Maple Street and focus on delivering fantastic guest experiences day in and day out,” a Cracker Barrel spokesperson informed FOX Business.
The company mentioned there are nonetheless more than 50 Maple Street shops. Cracker Barrel acquired Maple Street Biscuit Company in October 2019 for $36 million.
The information comes as Cracker Barrel faces continued fallout over its advertising mishap, which included plans to revamp its brand and redesign the inside of the shops. While the company finally reversed course, the transfer sparked a wave of backlash from clients.
Rival Steak ‘n Shake is leading a proxy battle to overhaul the company’s management, together with its CEO Julie Felss Masino.
Cracker Barrel in Minnesota sees unusually low Sunday site visitors. Clint Brewer Photography / BACKGRID
In the company’s earnings call final week, Masino acknowledged that Cracker Barrel had underestimated the deep connection clients really feel towards the company’s nostalgic imagery. Carmen Ok. Sisson – stock.adobe.com
In the company’s earnings call final week, Masino acknowledged that Cracker Barrel had underestimated the deep connection clients really feel towards the company’s nostalgic imagery.
“We want longtime fans and new guests to experience the full story of the people, places, and food that make Cracker Barrel so special,” Masino mentioned. “That’s why our team pivoted quickly to switch back to our “Old Timer” brand and has already begun executing new advertising, promoting and social media initiatives leaning into Uncle Herschel and the nostalgia across the model.”
Masino famous within the call that the company had already begun changing its 4 modernized take a look at shops back to conventional interiors. Only 4 of its 660 eating places had changed the model’s signature Americana décor with a glossy, minimalist look.
14 Maple Street areas might be shuttered after the low earnings report. dbvirago – stock.adobe.com
Cracker Barrel launched a redesigned brand on Aug. 19 that eliminated the image of an previous man leaning towards a wood barrel – a image of the chain’s Southern allure and hospitality for more than 5 a long time, however reversed course much less than a week later.
Still, the company took a hit with income down 2.9% in its newest quarter from the identical time final 12 months. The company additionally mentioned that site visitors has fallen 8% for the reason that August rollout of its simplified, text-only brand.
