Cracker Barrel now anticipates meeting or exceeding its full-year revenue guidance following strategic divestitures. The company has completed a sale-leaseback transaction for 26 company-owned Cracker Barrel locations with an institutional real estate investor, generating approximately $77 million in net proceeds intended for debt reduction.

Additionally, Cracker Barrel sold the Maple Street Biscuit Co. (MSBC) trademark and assets across 35 MSBC locations to Biscuit Belly. The company plans to close the remaining 16 MSBC locations not included in this sale. The divestiture of MSBC, which accounted for less than 2% of Cracker Barrel's annual revenue, is projected to result in non-cash charges ranging from $37 million to $39 million in the current fiscal fourth quarter.

Cracker Barrel also anticipates incurring cash charges between $6 million and $8 million in the fourth quarter and extending into fiscal year 2027.