Cracker Barrel is bracing for a $5 million reduction in its EBITDA, influenced by tariffs impacting its gift shop business, which sources significant products from China. CEO Julie Masino pointed out that the company is addressing these challenges by renegotiating supplier agreements and exploring alternative product sources. Simultaneously, Cracker Barrel is undergoing a strategic revamp of its business model, including a reconsideration of the gift shop inventory as part of a wider three-year turnaround plan aimed at revitalizing restaurant relevance and improving customer engagement.
Cracker Barrel is expecting a $5 million hit to its EBITDA next quarter due to tariffs impacting its gift shop business, reflecting broader challenges faced by retailers.
The teams have been thinking about tariffs for months, negotiating with suppliers and exploring new sources of products to mitigate financial impacts of the tariffs.
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