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Death of American staple as CEO tanks her own company's stock by announcing they're 'not as relevant' anymore
Daily Mail ^

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 ...


TOPICS: Heated Discussion
KEYWORDS: crackerbarrel; dei; food; gowokegobroke; shorts; stupid; woke
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Yeah, get rid of that old apple pie stuff already.

They should start offering only donner kababs and masala.

1 posted on 05/23/2024 8:08:46 PM PDT by algore
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To: algore
chief executive Julie

Never a good sign.

2 posted on 05/23/2024 8:11:31 PM PDT by ClearCase_guy (It's not "Quiet Quitting" -- it's "Going Galt".)
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To: algore

They put a rainbow rocking chair on the porch for pride month in their ads.

Sorry not so interested in going. And I liked it.


3 posted on 05/23/2024 8:12:03 PM PDT by Persevero (You cannot comply your way out of tyranny. )
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To: algore

People don’t do sit down meals like they used to. We are all too busy doing screen time in our free time.


4 posted on 05/23/2024 8:13:03 PM PDT by Jonty30 (He hunted a mammoth for me, just because I said I was hungry. He is such a good friend. )
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To: algore

Silly lady. As a CEO, learn not to stick your foot in your mouth.


5 posted on 05/23/2024 8:15:24 PM PDT by grimalkin (Communism is the final logic of the dehumanization of man. -Fulton J. Sheen)
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To: algore

6 posted on 05/23/2024 8:16:22 PM PDT by MinorityRepublican
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To: algore

One of the few places you could reliably get some halfway decent okra around here.


7 posted on 05/23/2024 8:16:57 PM PDT by P.O.E. (Pray for America.)
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To: Jonty30

Restaurants (non fast food) are jam packed here.


8 posted on 05/23/2024 8:17:19 PM PDT by steve86 (Numquam accusatus, numquam ad curiam ibit, numquam ad carcerem™)
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To: algore

Things a CEO should never say out loud, especially on an investor call: “We just aren’t relevant. Our clientele died during COVID and didn’t come back. Our recipes suck.”


9 posted on 05/23/2024 8:18:07 PM PDT by ProtectOurFreedom (“When exposing a crime is treated like a crime, you are being ruled by criminals” – Edward Snowden)
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To: algore

[Yeah, get rid of that old apple pie stuff already.
They should start offering only donner kababs and masala.]


They’re running into issues because tastes change. That’s why so many traditional diners have closed, making way for other formats. Whether sushi, souvlaki or burrito, all eat into volumes for traditional American fare.


10 posted on 05/23/2024 8:18:18 PM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room)
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To: Jonty30

“People don’t do sit down meals like they used to. We are all too busy doing screen time in our free time.”

Pre pandemic there were several traditional restaurants near me that had a Sunday Brunch Buffet

I would go to these once or twice a month with kids or friends, they were always packed with people like me.

Now there are none.

There used to be pizza restaurants that would have an all you can eat weekday lunch special with salad bar, pizza nad chicken, but no more.

I think someone could make money doing something like this again ?


11 posted on 05/23/2024 8:19:02 PM PDT by algore
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To: algore

And they need a transgender spokesman.


12 posted on 05/23/2024 8:19:16 PM PDT by freefdny
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To: MinorityRepublican

Her past experience was with Taco Bell and Starbucks. That seems more her speed.


13 posted on 05/23/2024 8:22:25 PM PDT by Dr. Sivana
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To: MinorityRepublican
Look how hip she is. All dressed in black. Blonde hair (with dark roots. Huge black eyeglasses. Here's Julie practicing to be a CEO at an early age...


14 posted on 05/23/2024 8:22:37 PM PDT by ProtectOurFreedom (“When exposing a crime is treated like a crime, you are being ruled by criminals” – Edward Snowden)
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To: algore
Yeah, get rid of that old apple pie stuff already.
They should start offering only donner kababs and masala.

Yes, and gulab jamun instead of apple pie.

15 posted on 05/23/2024 8:23:07 PM PDT by Fiji Hill
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To: algore

Maybe Cracker Barrel should do more LGBTQ+ stuff to turn away traditional Americans.

Idiots...🙄🙄🙄🤣


16 posted on 05/23/2024 8:23:09 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: MinorityRepublican
She looks like she is wearing the glasses with the fake nose (which would be appropriate).
17 posted on 05/23/2024 8:23:31 PM PDT by Major Matt Mason (To solve the Democrat problem, the RINO problem must first be solved.)
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To: MinorityRepublican

After hearing what she had to say and looking at her picture, I predict that she will soon bring in Dylan Mulvaney to help turn things around.


18 posted on 05/23/2024 8:23:35 PM PDT by PTBAA
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To: MinorityRepublican

Looks like Marie Harfff it up!


19 posted on 05/23/2024 8:23:38 PM PDT by antceecee ( )
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To: MinorityRepublican

I’d hit it


20 posted on 05/23/2024 8:24:25 PM PDT by Lazamataz ("First we beat the Soviet Union. Then we became them." -- Lazamataz, 2005)
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