Cracker Barrel down after annual revenue forecast cut

Shares of casual dining chain Cracker Barrel Old Country Store CBRL.O fall about 12% to $23.95 after the bell

Co cuts annual revenue forecast as backlash over its short-lived logo change hurt store traffic in Q1

Now expects FY2026 revenue of $3.2 billion to $3.3 billion vs. prior forecast of $3.35 billion to $3.45 billion

Also expects annual adjusted EBITDA of $70 million to $110 million vs $150 million to $190 million earlier

CBRL also reports Q1 revenue decline of about 6% to $797.2 million vs analyst estimates of $802.2 million, per data compiled by LSEG

Logs quarterly adjusted loss of 74 cents per share compared to analysts' expectation of a loss of 79 cents per share

As of last close, stock up 7.6% YTD