Cracker Barrel has reported a slight increase in sales and profit for the last fiscal year, but the company is expecting declines in the new fiscal year.

The country-themed restaurant and store chain saw total revenue grow 0.4 per cent to $3.48 billion in the year ended August 1. Excluding the impact of the 53rd week in the prior year, revenue increased 2.2 per cent.

GAAP net income rose from $40.9 million to $46.4 million and Adjusted EBITDA increased from $211.6 million to $224.3 million.

For the fourth quarter, revenue decreased 2.9 per cent, but increased 4.4 per cent when removing the 53rd week in the prior year. Adjusted EBITDA was down from $57.4 million to $55.7 million.

The earnings report comes after the company’s unsuccessful attempt to rebrand. Cracker Barrel recently remodeled some of its restaurants and introduced a new and simplified logo, which stripped away the iconic illustration of ‘Uncle Herschel’.

The changes sparked backlash among customers, especially longtime fans, forcing the chain to switch back to the old logo and hit a pause on remodels.

In the report, the company said it invested $158.6 million in capital expenditures last year, including $105 million in store maintenance and $20 million related to remodels, among others.

For the new fiscal year, Cracker Barrel expects total revenue of $3.35 billion to $3.45 billion, representing a decline of 0.8-3.7 per cent. Comparable store traffic is forecast to decline of 4-7 per cent and adjusted EBITDA to drop almost 15 per cent. 

The company also anticipates capital expenditures of $135 million to $150 million, the majority of which is related to maintenance and includes no spending on new remodels.