Maple Street Biscuit Company, a Cracker Barrel-owned restaurant chain, shuttered more than a dozen locations that fell short of its financial expectations.
Cracker Barrel warned in its earnings call last week that 14 locations would be impacted by the closures during fiscal 2026. However, Cracker Barrel told FOX Business that it had already closed the locations.
“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 told FOX Business.
The company said there are still more than 50 Maple Street stores. Cracker Barrel acquired Maple Street Biscuit Company in October 2019 for $36 million.
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The news comes as Cracker Barrel faces continued fallout over its marketing mishap, which included plans to revamp its logo and redesign the interior of the stores. While the company ultimately reversed course, the move sparked a wave of backlash from customers. Rival Steak ‘n Shake is leading a proxy battle to overhaul the company’s leadership, including its CEO Julie Felss Masino.
In the company’s earnings call last week, Masino acknowledged that Cracker Barrel had underestimated the deep connection customers feel toward the company’s nostalgic imagery.
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“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 said. “That’s why our team pivoted quickly to switch back to our “Old Timer” logo and has already begun executing new marketing, advertising and social media initiatives leaning into Uncle Herschel and the nostalgia around the brand.”
Masino noted in the call that the company had already begun converting its four modernized test stores back to traditional interiors. Only four of its 660 restaurants had replaced the brand’s signature Americana décor with a sleek, minimalist look.
Cracker Barrel introduced a redesigned logo on Aug. 19 that removed the image of an old man leaning against a wooden barrel – a symbol of the chain’s Southern charm and hospitality for more than five decades, but reversed course less than a week later.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CBRL | CRACKER BARREL OLD COUNTRY STORE INC. | 43.80 | -0.01 | -0.02% |
Still, the company took a hit with revenue down 2.9% in its latest quarter from the same time last year. The company also said that traffic has fallen 8% since the August rollout of its simplified, text-only logo.
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