Hire a CEO that doesn't like America and it won't end well.
Start pushing rabidly left woke bs and you'll find Americans walking away.
Posted on 05/23/2024 8:08:46 PM PDT by algore
An iconic American eatery's stock has plummeted in recent week after the company's CEO said the restaurant is no longer 'relevant'.
Cracker Barrel, the Southern country-themed restaurants with 662 locations across the nation, has been diminishing in popularity over the past decade - with its loyal clientele of elderly people failing to return after the pandemic.
The business tanked even more when its chief executive Julie Felss Masino told investors, 'We're just not as relevant as we once were.'
While speaking on an investor call, Masino, who took over the CEO position nine months ago, admitted, 'Some of our recipes and processes haven't evolved in decades.'
Since the call, the 54-year-old company's shares fell by nearly 20 percent.
On Thursday, Cracker Barrel traded as low as $45.35 - a 52-week low that marked its lowest level in over a decade.
The stock closed today at $45.67 - down 2.1 per cent since Masino's comments.
Cracker Barrel's yearly dividend was slashed from $1.30 per share to just 25 cents.
Last Thursday, the Southern eatery announced plans to spend $700 million over the next three years to drive up its popularity.
The restaurant rose to prominence after it was founded in 1969 as patrons flocked to its all-American dishes, like biscuits and gravy and fried chicken.
(Excerpt) Read more at dailymail.co.uk ...
Kama Sutra?
Seems to me they lost their recipes. Last few times I went even the old standby, chicken and dumplings, was not good and service has been declining for sometime. Last time there I said not again.
“For openers, the picture is about 6 years old. Here is the latest pic.”
Thank you, Sir Galahad. I’m positive now that her idiotic comments had nothing to do their stock crashing.
Hire a CEO that doesn't like America and it won't end well.
Start pushing rabidly left woke bs and you'll find Americans walking away.
Women ruin everything.
They shouldn’t be in the military or LE. They shouldn’t be CEOs or have any power or authority.
Sincerely,
A woman who loves her kitchen, cooking for and taking care of her man.
My dad has a 74 Grand Ville and fun land yacht to drive.
455 w 4bbl. Rides like a dream.
I wouldn’t own it though. Mostly because of the size and the streets around me being kind of narrow.
Hope to sell the thing. Dad isn’t interested in it anymore.
All you can eat WEF bugs
How do these people get hired?
Furthermore, the totality of the comment is “ Cracker Barrel is an iconic brand, but even iconic brands have to evolve,” Masino told investors, per NRN. “We know from our research that despite high levels of consumer affinity, we're just not as relevant as we once were. We need to address these dynamics by refreshing and refining the brand and reflecting this in all of the ways we interact with our guests. We will take what is known and be loved about our differentiated brand and build upon it so that it's more relevant to today's and tomorrow's guests.” In other words, she didn’t just blurt out an idiotic statement without thinking.
I’m positive now if people could just research how management preps for calls, they’d recognize this as a crafted statement as part of a message. It may have missed the mark, but the geniuses herein know it is just some dumb broad who hasn’t a clue tanking the stock and hey a bunch of old alleged conservative “men” wanna hit it. Boy, if THAT is the opposition to wokism …
In addition, the company annoyed customers with the LGBT announcements in June 2023. Ms Masin was hired in July 2023. Do I think they’ll repeat it in 2024? Probably, but you can’t pin the 2023 actions on her.
Finally, I’m positive now if people could just read the article, the investors are also concerned because the company announced a plan without a ton of details. That will weigh on a stock as well, but not as much as a massive dividend cut.
Instead, we get a poorly-written article from the Brits and a lot of poorly-thought out comments focused chiefly on the CEOs physical characteristics. On the positive side, it’s sort of par for the course since 2020, with many folks posting click bait and not doing their homework.
Cracker’s biggest problem isn’t the CEO (she’s just one piece of the problem), it’s the BOD. Woke and failed executives being placed on BOD’s is never a recipe for success. The problem with many of the major corporate boards is the almost incestuous relationships that move many of the same types of mediocre folks from one position to another. I’m sure they all attend the same parties and soires.
Cracker Barrel, your CEO is dumb!! Thank you!
“They put a rainbow rocking chair on the porch for pride month in their ads.”
My first thoughts, and that’s why we never went back. For clean family dining, Culvers is currently the place.
Fake glasses, like S.E. Cupp., another pretentious bitch. [SMH]
I always liked CB for breakfast but wasn’t hooked on their lunch/dinner menu.
Then they changed their menu to be more ala carte rather than the large breakfast options like the Old Timers and Uncle Herschel’s Favorite.
That coincided with a price increase (understandable in the Biden economy) and turned me off.
“I appreciate their Americana theme but have never bought anything other than meals.”
The best meatloaf I’ve ever had was at a CB in Morgantown, WV, in April.
And the clothes in their shops generally are a style that I like.
I had one of my best breakfast meals ever at Waffle House. I sat at the snack bar across from the griddle. My eggs were actually steaming when they served them not ten seconds after leaving the griddle.
“They put a rainbow rocking chair on the porch for pride month in their ads.”
Yeah. That was creepy, and I don’t think it helped them. At that time we were traveling often and we never saw any of that nonsense. I think the blonde bimbo might’ve overstepped in that regard. Young women as CEOs ... seems like a bad idea.
We don’t? Every Sunday, we hit Panera for breakfast. We go to Cracker Barrel, too.
Thanks for posting. Sad.
A 3 dressed up as a 9
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