Cracker Barrel Old Country Store, Inc. (“Cracker Barrel” or the “Company”) (Nasdaq: CBRL) today reported its financial results for the fourth quarter of fiscal 2020 ended July 31, 2020 and provided an update regarding the impact of the COVID-19 pandemic on the Company’s business.
Fourth Quarter Fiscal 2020 Highlights
Commenting on the fourth quarter results, Cracker Barrel President and Chief Executive Officer Sandra B. Cochran said, “Throughout the quarter, we continued to take decisive actions to ensure the health and safety of our guests and employees, strengthen our business model, and bolster liquidity. I am encouraged by our sales recovery, and I am pleased with both the progress we have made on key initiatives and with how well our teams have continued to manage our business under changing and challenging circumstances. Our actions have put us in a position of financial strength which will allow us to invest in initiatives that we believe will drive long-term value creation for our shareholders. Cracker Barrel remains a trusted and highly differentiated brand with loyal guests, and our management team is confident our fiscal 2021 business priorities and plans will help us successfully navigate this environment while further strengthening our leadership position in casual dining.”