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.