Cracker Barrel fans are pleading with the company's CEO to keep the restaurant chain unchanged after she announced significant upcoming changes.
CEO Julie Felss Masino mentioned three significant changes that might soon be implemented across all or many of Cracker Barrel's 660 locations.
Fans React to Cracker Barrel Changes
The U.S. Sun noted that several Cracker Barrel customers shared their thoughts on a CBS News Facebook post about the upcoming changes. One fan expressed their love for Cracker Barrel, praising the unique food and urging the chain to stay the same, noting the popularity of their Florida location.
Another customer echoed this sentiment, asking for the delicious breakfasts and the gift shop to remain unchanged. A diner recently visiting a Virginia Cracker Barrel mentioned that the restaurant seemed busy.
A Facebook user also shared their fondness for eating at Cracker Barrel, highlighting the quality of the food and the variety in the country store, and asked the company not to change too much.
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Cracker Barrel's Big Changes Ahead
According to CBS News, Cracker Barrel has long been known for its rustic charm and country dishes like biscuits and gravy. However, the new CEO believes the old approach isn't working and plans significant changes.
"We're just not as relevant as we once were," said Masino during a May 16 conference call about her plans to update the restaurants.
Masino, who became CEO in August after her tenure at Taco Bell, stated that the company "has lost some of its shine" and needs a "transformation" to keep attracting current customers and new diners.
Cracker Barrel's sales have stagnated, with the most recent quarter's revenue remaining at $935.4 million, the same as the previous year. Meanwhile, the company's stock has dropped 40% in 2024.
Masino identified various challenges, including pricing and menu options, based on an internal study comparing Cracker Barrel to its competitors regarding food, experience, value, and convenience.
She noted that Cracker Barrel isn't alone in facing difficulties, as other food chains struggle to attract inflation-weary customers. Nonetheless, the company recognizes additional concerns that need addressing.
As 9News reported, Masino outlined key changes coming to the chain. The company plans to introduce new dinner menu items, such as green chili cornbread and banana pudding, while possibly removing some existing items to simplify the menu.
Price adjustments will vary by location, with some stores lowering prices and others increasing them. This strategy has already boosted revenue by 3% in test locations without impacting customer traffic.
Cracker Barrel is also testing restaurant remodels with a new color palette, updated lighting, more comfortable seating, and simpler decor. Early customer feedback has been positive.
A new prototype merchandise store, 15% smaller than the current size, will debut in fall 2025, with potential for even smaller versions. Masino stressed that the "treasure-hunt" shopping experience will remain a key feature.
Masino is optimistic about these changes, aiming to boost the brand's relevancy and profitability. Increased investment in the business will be funded by reducing dividends to support growth. The Board, management, and teams are dedicated to making these plans a reality.
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