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 ...
Maybe some of this was due to their “going gay.”
And this is the South. That cooking is still relevant. Maybe the CEO isn’t.
Question: Has she and Marie Harf ever been seen in the same room at the same time?
Last time I saw a nose that big...
They had a nice lighter breakfast with turkey sausage and fresh fruit and a yogurt parfait with a muffin that they told me they got rid of...we never go there anymore....
Sheesh, Mr. Doodle. Aren’t you the turd in the punch bowl? Eyebrows, pretentious huge glasses, and gay rocking chairs on the porch are a lot more fun to talk about.
They’re basically done. And they never did cook grits properly. It’s the only place up here in Yankee country you can get them. I buy them and cook them myself.
-SB
CEO of ... ANYTHING?
Ridiculous!
The fake glasses and power suit don't conceal that she's incompetent to run a lemonade stand in her parents' front yard. Too young, too silly, and too female ...
She looks like the kind of person who hates everything Cracker Barrell stood for, and wants to destroy it.
There was a guy on YouTube who was boasting a 50% roi shorting companies with female CEOs. Sounds legit.
And now you can get fried chicken a dozen different ways. (I loved their halibut but it is off menu now.). No , you can’t order an omelette or roast beef without it swimming is gravy. I make better milk and sausage gravy. Their green beans are soggy and over cooked.
We used to eat there every weekend but CB has been a disappointment the last couple years.
I love the general store Department, pancakes and bacon! All my grandkids enjoy a trip to Cracker Barrel. We make fun memories there.
This CEO is an idiot! Prepare your food better and instead of 50 shades of fried chicken, stay away from woke advertising. Duh!
Yeah, it’s a gift.
Id go to any restaurant that would serve 2 strips of bacon and 2 eggs .. Toast and a cup of coffee for around $6.
Use to be $3 not to many years ago.
Thank you for a well thought out response. It sounds like her grade is “incomplete”. Expenses for these types of places have soared. I thought she was MUCh younger, and had a bad experience with what Carly Fiorina did to HP. (That one I DO know about)
Same here. Once they did that, it was over.
“...some peace and quiet to enjoy it”
Unfortunately thats a rare place now because when some people go out to eat it is apparently more for the desire to abuse servants rather than to consume food.
The demanding nature of these petulant diners drives wait staff to harass guests to the point that they can no longer enjoy a meal or have a conversation with those that they have brought along.
Its not quite the same as prostitution though Id imagine that there are plenty of hookers that would be willing to tell a person how important they are over a plate of hashbrowns for a few bucks.
Its almost like that weird trend in Japan where they hire temporary friends to hang around with for an afternoon. We really have achieved a time where people are so lacking in human interaction that they would willingly head down to one of the Monty Python clinics to buy a good argument just to know that they are alive.
Maybe thats what we need...there are fusion cuisines so why not a fusion atmosphere? International House of Chicken Ranch? Maybe not quite that far. Also, Ive noticed that most of those that feel the need to abuse wait staff are women so our prostitutes of prevarication would need to be young males.
When a woman comes in to IHCR we assign them a waitress, table, and one of our escorts to fulfil their emotional needs while they eat. Maybe when their behaviors are finally addressed I can get a properly cooked rare steak and be left alone to converse with my guest.
Based on her resume and her apparent age I'd say she was rocketed to the top without having to work her way up. And it worked when she was caretaker for booming brands. Now with a troubled brand her inexperience is showing I think.
Otherwise, i’d like a time machine back to when a no skill worker made around $5 an hour...80s??
definitely lived better then than now ..by far.
Could go on and on. Even with that wage you could buy a decent used car...has was around 50 cents a gallon. Rent for an efficiency apartment was around $200/mo. Food was about $25-35 a week.
National debt wasn’t out of control yet.
I’d even give up the internet in exchange.
From what I read and remember, Dick Van Dyke missed more coffee tables than Carly did.
And she fancied herself a good President?
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