Cracker Barrel Files 10-Q for Period Ending January 26, 2024

TL;DR

<b>Cracker Barrel files its Q2 2024 10-Q, detailing financial data and fair value measurements.</b>

AI Summary

CRACKER BARREL OLD COUNTRY STORE, INC (CBRL) filed a Quarterly Report (10-Q) with the SEC on February 27, 2024. Filing is a 10-Q for Cracker Barrel Old Country Store, Inc. for the period ending January 26, 2024. The company's fiscal year ends on August 2nd. Previous company name was CBRL Group Inc., with a name change date of July 30, 1998. The filing includes data related to common stock, preferred stock, additional paid-in capital, and retained earnings. Fair value measurements for recurring items are detailed, including inputs from Level 1, Level 2, and Level 3.

Why It Matters

For investors and stakeholders tracking CRACKER BARREL OLD COUNTRY STORE, INC, this filing contains several important signals. This filing provides an update on Cracker Barrel's financial position and performance for the second quarter of fiscal year 2024. Investors and analysts can use this report to assess the company's financial health, including its equity structure and asset valuations.

Risk Assessment

Risk Level: low — CRACKER BARREL OLD COUNTRY STORE, INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant financial distress or unusual events.

Analyst Insight

Monitor future filings for revenue trends, profitability, and any changes in the company's financial structure or fair value measurements.

Key Numbers

• 2024-01-26 — Period End Date (Conformed period of report)
• 2024-02-27 — Filing Date (Filed as of date)
• 0802 — Fiscal Year End (Fiscal year end)
• 5812 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CRACKER BARREL OLD COUNTRY STORE, INC (company) — Filer name
• CBRL GROUP INC (company) — Former company name
• LEBANON (company) — City for business and mail address
• 0001140361-24-009737 (other) — Accession Number
• 2024-01-26 (date) — Conformed period of report
• 2024-02-27 (date) — Filed as of date

FAQ

Key Dates

• 2024-01-26: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-02-27: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and position between annual reports.)

Fair Value Measurements

The process of determining the price at which an asset would be sold or a liability would be transferred in an orderly transaction between market participants. (Indicates how the company values certain assets and liabilities, which can impact reported financial results.)

Key Financial Figures

• $0.01 — ch registered Common Stock (Par Value $0.01) Rights to Purchase Series A Junior P

Filing Documents

• ef20016433_10q.htm (10-Q) — 1056KB
• ef20016433_ex4-1.htm (EX-4.1) — 292KB
• ef20016433_ex4-2.htm (EX-4.2) — 19KB
• ef20016433_ex31-1.htm (EX-31.1) — 11KB
• ef20016433_ex31-2.htm (EX-31.2) — 11KB
• ef20016433_ex32-1.htm (EX-32.1) — 4KB
• ef20016433_ex32-2.htm (EX-32.2) — 4KB
• 0001140361-24-009737.txt (&nbsp;) — 4925KB
• cbrl-20240126.xsd (EX-101.SCH) — 37KB
• cbrl-20240126_cal.xml (EX-101.CAL) — 53KB
• cbrl-20240126_def.xml (EX-101.DEF) — 127KB
• cbrl-20240126_lab.xml (EX-101.LAB) — 449KB
• cbrl-20240126_pre.xml (EX-101.PRE) — 253KB
• ef20016433_10q_htm.xml (XML) — 580KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Page

Financial Statements (Unaudited)

ITEM 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Changes in Shareholders' Equity 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 26

Controls and Procedures

ITEM 4. Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION

Risk Factors

ITEM 1A. Risk Factors 27

Other Information

ITEM 5. Other Information 27

Exhibits

ITEM 6. Exhibits 31

SIGNATURES

SIGNATURES 32 2 Index

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION ITEM 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) CRACKER BARREL OLD COUNTRY STORE, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) (Unaudited) ASSETS January 26, 2024 July 28, 2023* Current Assets: Cash and cash equivalents $ 12,602 $ 25,147 Accounts receivable 41,524 30,446 Inventories 172,702 189,364 Prepaid expenses and other current assets 40,972 37,330 Total current assets 267,800 282,287 Property and equipment 2,412,806 2,380,313 Less: Accumulated depreciation and amortization 1,447,139 1,408,368 Property and equipment – net 965,667 971,945 Operating lease right-of-use assets, net 877,580 889,306 Goodwill 4,690 4,690 Intangible assets 24,498 23,426 Other assets 44,824 46,440 Total assets $ 2,185,059 $ 2,218,094 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 136,388 $ 165,484 Taxes withheld and accrued 26,336 38,835 Other current liabilities 296,113 284,647 Total current liabilities 458,837 488,966 Long-term debt 452,278 414,904 Long-term operating lease liabilities 689,499 702,413 Other long-term obligations 122,478 127,986 Commitments and Contingencies (Note 10) Shareholders' Equity: Preferred stock – 100,000,000 shares of $ 0.01 par value authorized; 300,000 shares designated as Series A Junior Participating Preferred Stock; no shares issued — — Common stock – 400,000,000 shares of $ 0.01 par value authorized; 22,201,086 shares issued and outstanding at January 26, 2024 , and 22,153,625 shares issued and outstanding at July 28, 2023 222 221 Additional paid-in capital 8,541 3,886 Retained earnings 453,204 479,718 Total shareholders' equity 461,967 483,825 Total liabilities and shareholders' equity $ 2,185,059 $ 2,218,094 See Notes to unaudited Condensed Consolidated Financial Statements. * This Condensed Consolidated Balance Sheet has been derived from the aud

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