Cracker Barrel Old Country Store, Inc. (CBRL) — ESG & Values Scores

Environment story

Cracker Barrel has disclosed minimal direct environmental metrics and lacks a credible net-zero commitment. Scope 1, 2, and 3 emissions are undisclosed, and no verified renewable-energy or decarbonization infrastructure investments are documented in the 10-K. The company acknowledges climate-change regulatory risks in its 10-K risk factors but offers no substantive mitigation roadmap. The absence of emissions baselines, targets before 2045, or third-party sustainability certification signals weak environmental governance. The company publishes an annual Sustainability Report but the 10-K does not detail material climate or environmental goals.

Criticisms on file

Undisclosed Scope 1, 2, 3 Emissions and Net-Zero Targets
Source: CBRL 10-K, Item 1A Risk Factors; MD&A — no quantified emissions data or net-zero year disclosed.
Potential Water and Waste Intensity from Restaurant Operations
Source: CBRL 10-K Risk Factors: acknowledges potential restrictions on water use and mentions hazardous-materials compliance risks but provides no site-specific data or remediation plans.

Disclosed initiatives

Annual Sustainability Report Publication

Company publishes sustainability report annually describing sustainability efforts and goals; however, specific quantified targets and progress metrics are not disclosed in the 10-K filing.
Climate-Risk Acknowledgment in Governance

Risk Factors section acknowledges climate-change regulatory risk and potential future increases in taxes, raw-material costs, transportation, and utilities.

Passive acknowledgment; no concrete mitigation strategy disclosed.

Social story

Cracker Barrel's social profile shows moderate governance on labor practices but significant data gaps on diversity, pay equity, and supply-chain ethics. The company acknowledges labor competition and wage-inflation pressures in its 10-K, but discloses no CEO-to-worker pay ratio, workforce diversity percentages, or turnover rates in the filing. Union standing is not explicitly disclosed. The company faced proxy contests from activist shareholders (Biglari) and incurred $8.2M in proxy-contest expenses in 2025, signaling labor or governance disputes. No modern-slavery statement, living-wage commitment, or supply-chain human-rights audit is documented in the 10-K. Wage-related settlement of ~$3.3M in 2025 suggests prior labor disputes.

Criticisms on file

Wage-Related Settlement (~$3.3M) in 2025
Source: CBRL 10-K, MD&A General and Administrative Expenses section: 'approximately $3,300 charge in connection with our settlement of wage related disputes.'
Proxy Contest Expenses ($8.2M) and Activist Shareholder Engagement
Source: CBRL 10-K, Risk Factors (Activist Shareholders) and MD&A (General and Administrative): Company incurred $8,220 thousand in proxy-contest expenses in 2025; Biglari entities own 2.9% of stock and initiated 'vote-no' campaign against directors.
No Disclosed Union Relations, Modern-Slavery Statement, or Living-Wage Commitment
Source: CBRL 10-K: Risk Factors mention unionization as a regulatory risk but do not disclose any neutrality agreements, union-cooperation frameworks, or modern-slavery policies.
High Workforce Turnover Acknowledged but Unquantified
Source: CBRL 10-K, Risk Factors: 'Many staff members are in entry-level or part-time positions, typically with high rates of turnover.' No turnover percentage disclosed.

Disclosed initiatives

Employee Value Proposition Rollout

Company rolled out a new Employee Value Proposition in 2025 designed to drive better recruiting and retention.

Stated goal to improve labor recruitment and retention; no quantified outcomes disclosed.
Store Manager Experience Technology

Rolled out technology designed to improve store manager experience.

Internal operational improvement; no direct social or wage-equity impact disclosed.

Governance story

Cracker Barrel's governance structure shows moderate independence and anti-takeover provisions but faces shareholder activism and activist concerns. Board independence is not explicitly disclosed in the 10-K filing; dual-class voting is not mentioned, suggesting single-class structure. The company's shareholder-rights agreement (poison pill) expires February 27, 2027, and is described in Risk Factors as a takeover-defense mechanism. Activist shareholders (Biglari, 2.9% ownership) launched 'vote-no' campaigns in 2025, indicating governance disputes. Lobbying expenditures and PAC contributions are not quantified in the 10-K. The company settled wage-related disputes ($3.3M) in 2025 and paid proxy-contest expenses ($8.2M), signaling labor or governance friction. No SEC enforcement actions, antitrust proceedings, or consumer-safety fines are disclosed in the filing.

Criticisms on file

Activist Shareholder Campaign (Biglari, 2.9% ownership)
Source: CBRL 10-K, Risk Factors (Activist Shareholders): Biglari entities own 2.9% and initiated 'vote-no' campaign against certain directors for 2025 annual meeting.
Poison Pill Takeover Defense
Source: CBRL 10-K, Risk Factors: 'adopted a shareholder rights agreement...when specified events occur, our shareholders will be entitled to purchase...junior preferred stock.' Expires February 27, 2027.
Proxy Contest and Director Election Disputes
Source: CBRL 10-K, Risk Factors: 'Activist shareholders have nominated candidates for election to our Board of Directors...multiple times, resulting in proxy contests.'
Undisclosed Board Independence and Lobbying Spend
Source: CBRL 10-K: No explicit board independence percentage disclosed; lobbying and PAC expenditures not quantified in the filing.

Disclosed initiatives

Shareholder Rights Agreement (Poison Pill)

Adopted shareholder rights agreement providing anti-dilution trigger at 20% beneficial ownership threshold; expires February 27, 2027.

Takeover defense; increases incumbent board entrenchment.
Multi-Year Strategic Plan (2024–2025)

Five-pillar strategic plan: refining brand, enhancing menu, evolving store/guest experience, winning in digital, elevating employee experience.

Operational restructuring; no governance-specific improvements disclosed.

These are Missionomics' own editorial scores — directional signals built from disclosed facts under a published method, not certifications or definitive ratings of Cracker Barrel Old Country Store, Inc.. Coverage and confidence vary by data point, and figures can lag real-world changes. Read the full Methodology for sourcing, scoring, and correction details — or open Cracker Barrel Old Country Store, Inc. in the app for interactive charts and portfolio building.

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