Posted on 05/24/2024 6:05:03 PM PDT by Morgana
Cracker Barrel has shut four stores so far this year - as the beloved family chain battles for survival.
Stock for the Southern country-themed chain has plummeted in the past week after the company's CEO said the restaurant is no longer 'relevant'.
Julie Masino was talking to investors as she outlined plans to turn things around at the chain, which until the closures had 662 outlets across 45 states.
Popularity has waned over the past decade - with its loyal clientele of elderly people failing to return after the pandemic.
To cut costs, it has already shuttered four stores this year: two in California, one in Oregon and anther in Colombia, South Carolina. See below for full details.
Cracker Barrel says it will open two more lcoations this year. It is not clear if it will shut any more.
Last year it shut three other stores in Oregon.
The fall in cutomers has hit the share price in recent years.
But the price tanked even more after its chief executive Julie Felss Masino told investors: 'We're just not as relevant as we once were.'
(Excerpt) Read more at dailymail.co.uk ...
Where to park overnight?
basically
A lot of people can’t afford to eat out because of the cost, or travel in their car to even dine out along the way. I know I can’t. We have no Cracker Barrels near us. I live in the Mohawk Valley of NY State. The closest Cracker Barrel is over an hour away, north of here. When I visit my niece this summer in Cape Vincent, I will have to check to see if that one is still open, or if the one outside of Watertown is still there.
We quit eating there after they emphasized their rainbow colored rocking chairs during Pride Month. They basically lost my support at that time. The only time that I go there now is to shop for women’s clothes. (Surprisingly, hey are one of the best places for that.)
Grew up in the south, never once considered Cracker Barrel good southern cooking.
Trying to compete with Chili’s, TGI Fridays, and Applebees as bars that serve food.
Daily Mail has some fetish with Cracker Barrel. They wrote another hit piece yesterday. https://freerepublic.com/focus/backroom/4239758/posts
Alas, this article is as inaccurate as was the prior one. I don’t own stock nor do I work for them. But I believe in accuracy.
If people could read a stock chart, read an article, and a calendar, and stop obsessing about her eyeglasses and other physical traits, they’d see that the recent stock drop has to do with the announcement that they’re cutting the dividend bigly on May 16, after the markets were closed.
Furthermore, the totality of the CEO’s 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 is a crafted statement as part of a message. It may have missed the mark, but she didn’t just blurt it out.
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, 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.
They have the best tasting cheese.
I stopped at a Cracker Barrel one time after driving all night. I was so tired.
I ordered chicken and dumplings. It was fine. The waitress kept calling me “darling.” That’s all I remember.
Pretty sure the city in S. Carolina is “Columbia.” Not Colombia.
About a week ago I saw an article on here about some illegal from “Columbia” - meaning Colombia, the country in South America. I think it was put out by some law enforcement agency. They spelled it that way at least twice in the item.
I guess it’s more difficult to keep track of that stuff than I think it is.
Once inside, the food is mostly bland with little seasoning. No alcoholic beverages on the menu (at least back in the day when I went).
After you eat, you have to walk through a ticky-tacky gift shop to pay your bill.
It was just an odd place all around.
THEY NEED BETTER FOOD.
IT WAS TOLERABLE AT ONE TIME. NOW IT’S TERRIBLE.
LOTS OF RESTAURANTS ARE CLOSING FAST AND REPLACED WITH
WHO KNOWS.
BUT THERE’S ALWAYS WAFFLE HOUSE AT 3M. PARKING INCLUDED.
May have been to the CB a few times ever and did not care for the place.
New CEO was former Taco Bell lead. If that's her playbook, get ready for higher prices and lower quality.
The one nearest me is always busy. They have a pretty good fish Friday.
Cracker Barrel is like most restaurants. It has good days and bad days. Certain times of the day are better than others.
No it isn’t the finest Southern cooking but it stays busy.
I know it was THE place to go after morning services on Sunday.
But they decided to chase the rainbow.
If you tell people that you do not want them as customers they do tend to go away.
Just the way it is.
Cracker Barrel is to southern food, what Taco Bell is to Mexican food.
Cracker (isn’t that racist?) Barrel is good. We eat there whenever we go on trips.
They lost your support but you shop there for clothes. I’m trying to understand how the rainbow rocker led you to that logic.
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