Cracker Barrel CEO says brand isn't relevant and needs a new plan. Here are 3 changes coming soon.
CBSN
Cracker Barrel has long been known for its combination of rustic charm and country dishes like biscuits and gravy. But its new CEO said that the old approach isn't working any longer — and she's planning some major changes.
"We're just not as relevant as we once were," Cracker Barrel CEO Julie Felss Masino said on a May 16 conference call to discuss her plans to update the restaurants.
Masino, a former Taco Bell executive who stepped into the role of Cracker Barrel CEO in August, said the company "has lost some of its shine" and needs a "transformation" to continue to appeal to its current customer base and draw new diners. Cracker Barrel's sales have flatlined, with revenue for its most recent quarter unchanged at $935.4 compared with a year earlier, while its stock has tumbled 40% so far in 2024.
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