10/12/2023 0 Comments Maples biscuits![]() "It's less of because we have fewer stores, but on each of the ones we have, it is a problem," Cochran explained. It opened one this fiscal year and sits at 665 outlets systemwide. The chain is looking to open three to four units in fiscal 2023. The same problem exists for Cracker Barrel restaurants, just on a smaller scale. So it's every one of those categories we probably have at least one issue in." ![]() In some cases, we can't get the labor to do the construction. In some cases, we can't get the equipment. "Some communities don't have as many people to do it. "Some cases, permitting is the issue," said Cochran during Cracker Barrel's Q2 earnings call. That's primarily because of construction delays. ![]() But on Tuesday, Cracker Barrel lowered its guidance to 15 stores to reflect the possibility that some units planned for late in the year will spill into fiscal 2024. Through the first two quarters, five have debuted, including three in Q1 (two in Texas and one in Georgia). Originally, the expectation was to open 15 to 20 Maple Street restaurants in fiscal 2023, which would mark the largest output since Cracker Barrel acquired the brand in October 2019 for $36 million. CEO Sandy Cochran said the company is "encouraged by the performance of these new locations" and that it's "looking forward to accelerating their growth in the back half of the fiscal year and beyond." In the chain's fiscal second quarter, the fast-casual breakfast chain opened in Columbus, Ohio, and Houston-both new markets. Cracker Barrel is continuing to grow Maple Street Biscuit Company, although the economy isn't making it easy.
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