For Q1, we expect adjusted EBITDA to be significantly below prior year due to lower traffic expectations, and approximately $16 million in various costs related to our ongoing investments in advertising and marketing, as well as our general manager's conference, which typically occurs every other year, and manager training costs.

Sep 17, 2025 / receipt

These loyalty-exclusive engagement opportunities are expected to support member acquisition and encourage repeat visits while reinforcing Cracker Barrel's role as a trusted destination for gathering, comfort, and hospitality during the summer travel season.

Jun 9, 2026 / receipt, needs a key / Julie Massino, CEO | earnings call 2026-06-09 | transcript 327a6029-f5cb-429f-87a5-adc749b2f831 | chars 7756-8013 | segment 7

We also have that $16 million in additional costs that relates to the marketing, the advertising. Our general manager's conference actually occurs every other year, so we'll incur that this year. We did not incur it last year, and then we have some related training costs.

Sep 17, 2025 / receipt, needs a key / Craig, CFO | earnings call 2025-09-17 | transcript 0389d595-ca8d-4548-b3f4-7a503e222e37 | chars 31493-31765 | segment 32

For Q1, we expect adjusted EBITDA to be significantly below prior year due to lower traffic expectations, and approximately $16 million in various costs related to our ongoing investments in advertising and marketing, as well as our general manager's conference, which typically occurs every other year, and manager training costs.

Sep 17, 2025 / receipt, needs a key / Craig Pimels, CFO | earnings call 2025-09-17 | transcript 0389d595-ca8d-4548-b3f4-7a503e222e37 | chars 12653-12984 | segment 12

As we said in our last earnings call, our fourth quarter began slowly, but we had expected that traffic would improve in June and July with the onset of the summer travel season. Unfortunately, this didn't materialize, and our restaurant and retail sales performance came in below our expectations.

Sep 13, 2023 / receipt, needs a key / Sandy Cochran, CEO | earnings call 2023-09-13 | transcript 1c544cf0-8809-472b-9652-159b07dac2a6 | chars 3257-3555 | segment 3

Although we are cautiously optimistic that as the summer travel season unfolds, we will see some improvement to trends in June and July.

Jun 6, 2023 / receipt, needs a key / Sandy Cochran, CEO | earnings call 2023-06-06 | transcript b866347d-4a12-45bc-943a-0100c05c4280 | chars 3606-3742 | segment 3

For example, in the second half of the year, we're going to be comping on the effects of the Ukraine war, which impacted gas prices specifically, which impacts how folks travel and what they do while they're on their travel trip.

Feb 28, 2023 / receipt, needs a key / Craig, CEO | earnings call 2023-02-28 | transcript d2485605-ab63-4f8f-9838-82136b02eae4 | chars 30808-31037 | segment 31

Looking back at the fourth quarter, the challenging environment I discussed in June continued to impact us through the end of our fiscal year, including a slower than expected summer travel season, fewer visits from guests 65 and older, and high gas prices and other inflationary pressures that weighed most heavily on lower income guests.

Sep 27, 2022 / receipt, needs a key / Sandy Cochran, CEO | earnings call 2022-09-27 | transcript dcdb1a1c-7afa-4271-9620-e07b2fab984e | chars 4596-4935 | segment 4

Finally, we believe that high gas prices disrupted traditional spring break travel patterns, resulting in lower travel visits.

Jun 7, 2022 / receipt, needs a key / Sandy Cochran, CEO | earnings call 2022-06-07 | transcript be8754e3-655d-4b7e-910e-07dc46f7a025 | chars 3926-4052 | segment 4

First question, just looking for essentially a high-level update on the business model, and what I mean by that is I'm curious where you stand right now in terms of your customer base, local versus travel, so sort of the mix breakdown, local versus travel. And then what does that mix look like as you head into the summer driving season? How much larger does that travel mix get in the summer?

Jun 7, 2022 / receipt, needs a key / Jeff Farmer, other | earnings call 2022-06-07 | transcript be8754e3-655d-4b7e-910e-07dc46f7a025 | chars 25592-25986 | segment 25

So historically, travel was particularly important to us in the second and the fourth quarter and then spring break period, but we surveyed guests and they self-identified their visits as a travel occasion or a local visit. With travel coming back, we believe that guest is a bigger percentage than it was certainly during the pandemic, almost obviously, but we don't think we have gone back to normal at this point.

Jun 7, 2022 / receipt, needs a key / Sandy, CEO | earnings call 2022-06-07 | transcript be8754e3-655d-4b7e-910e-07dc46f7a025 | chars 26191-26607 | segment 26

What it also assumes, and again, this is a little bit of a TBD, it also assumes what I would characterize as a reasonable summer travel season. And that is effectively starting around this time.

Jun 7, 2022 / receipt, needs a key / Craig, CFO | earnings call 2022-06-07 | transcript be8754e3-655d-4b7e-910e-07dc46f7a025 | chars 32824-33018 | segment 33

No, I think to the question we got earlier about what is travel as a percentage of our business, we're building back, but it is an important component of the fourth quarter. And although I think we're expecting some, not as strong as it was pre-COVID, but some improvement from today. And we'll just I think our teams are ready for the guests to come back, and I think we are optimistic that they will.

Jun 7, 2022 / receipt, needs a key / Sandy, CEO | earnings call 2022-06-07 | transcript be8754e3-655d-4b7e-910e-07dc46f7a025 | chars 33364-33766 | segment 33