Cracker Barrel announces leadership changes to focus on food quality

LEBANON, Tenn. - Cracker Barrel Old Country Store, Inc. (CBRL), currently trading at $44.19 with a market capitalization of $982 million, announced Thursday organizational changes and leadership appointments as part of its strategy to enhance food quality and guest experiences. According to InvestingPro data, the company’s stock has declined nearly 17% year-to-date, suggesting investors’ concerns about its performance.

The restaurant chain has promoted Doug Hisel, an 18-year company veteran, to Senior Vice President of Store Operations. Hisel, who began with the company in 2007 as an Associate Manager, will oversee both Field Operations and Operations Services. These changes come as the company faces challenges, with InvestingPro analysis showing seven analysts revising their earnings expectations downward for the upcoming period.

Thomas Yun is returning to Cracker Barrel as Vice President of Menu Strategy & Innovation, replacing Matthew Banton. Yun previously held this position from 2022 to 2024 and was credited with developing some of the company’s most successful menu items.

The company has also expanded the roles of Heather Hager, Vice President of Retail & Design, and Heather Gammon, Vice President of Demand Planning, following the retirement of Laura Daily, Senior Vice President and Chief Merchant and Retail Supply Chain.

As part of the restructuring, Cracker Barrel has eliminated the role of Senior Vice President and Chief Restaurant and Retail Operations Officer, previously held by Cammie Spillyards-Schaefer.

"These changes to our organizational structure mark a strategic step forward as we sharpen our focus on consistently craveable food and warm country hospitality," said Julie Masino, President and Chief Executive Officer of Cracker Barrel, in a press release statement.

The company also confirmed it has ended its engagement with Prophet, the consultancy that advised on previous brand refresh initiatives, including logo and restaurant redesigns.

Cracker Barrel currently operates approximately 660 company-owned locations across 43 states. For deeper insights into CBRL’s financial health, valuation metrics, and expert analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with detailed analytics and actionable intelligence.

In other recent news, Cracker Barrel reported its fourth-quarter earnings for 2025, showing a slight miss in earnings per share (EPS) expectations, with an EPS of $0.74 compared to the forecast of $0.76. However, the company exceeded revenue forecasts, posting $868 million against the anticipated $853.96 million. Despite the revenue beat, UBS, Piper Sandler, BofA Securities, and Truist Securities all lowered their price targets for the company. UBS reduced its target to $48.00 due to rebranding controversies affecting customer traffic. Piper Sandler adjusted its target to $49.00, citing traffic concerns despite a 5.4% growth in same-store sales. BofA Securities lowered its target to $42.00, reflecting a reduced EBITDA outlook for fiscal 2026 and the withdrawal of fiscal 2027 guidance. Truist Securities set a new target of $58.00, maintaining a Buy rating but expressing concern over weaker-than-expected guidance for fiscal 2026. These developments highlight a period of adjustment and recalibration for the company amid fluctuating customer traffic and financial outlooks.

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