secwatch.observer — SEC 8-K summary
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Issuer:     CRACKER BARREL OLD COUNTRY STORE, INC (CBRL)
CIK:        0001067294
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0001104659-24-062546
Event type: dividend
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cracker Barrel slashes dividend to $0.25/share, warns Q3/Q4 results below expectations
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- Declared quarterly dividend of $0.25/share (payable Aug 6, 2024; record Jul 19); reduction from prior level to support increased investment.
- Fiscal 2027 targets: sales $3.8B-$3.9B, adjusted EBITDA $375M-$425M.
- Fiscal 2024 Q3 and Q4 results expected below prior expectations due to weaker-than-anticipated traffic; store closures and impairment charges in Q3.
- Fiscal 2025 adjusted EBITDA expected relatively in line with or slightly lower than FY2024; capital expenditures $160M-$180M.
- Three-year capex plan (FY2025-2027) of approximately $600M-$700M, with store remodel acceleration after test of 25-30 stores in FY2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1067294/000110465924062546/0001104659-24-062546-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1067294/000110465924062546/tm2414611d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-062546

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