{"id":2252870,"date":"2024-05-25T16:44:02","date_gmt":"2024-05-25T20:44:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/classic-american-restaurants-shares-plummet-20-after-ceos-painful-admission-were-just-not-as-relevant\/"},"modified":"2024-05-25T16:50:21","modified_gmt":"2024-05-25T20:50:21","slug":"classic-american-restaurants-shares-plummet-20-after-ceos-painful-admission-were-just-not-as-relevant","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/classic-american-restaurants-shares-plummet-20-after-ceos-painful-admission-were-just-not-as-relevant\/","title":{"rendered":"Classic American Restaurant&#8217;s Stock Drops 20% Following CEO&#8217;s Candid Revelation: &#8216;We&#8217;re Losing Relevance"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fclassic-american-restaurants-shares-plummet-20-after-ceos-painful-admission-were-just-not-as-relevant%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2252870&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>On May 25, \u200c2024, Mike Landry highlighted the struggle \u200dof Cracker Barrel Old Country Store. With declining stock\u200d prices and a loss of 16% \u2064of\u200c customers in\u200b the past four years, the chain is undertaking a \u2064$700 million revitalization effort to attract \u200ba \u200b<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/megyn-kelly-rips-hollywood-after-oscars-tank-hows-all-that-incessant-insufferable-woke-depressing-lecturinggoing\/\" title=\"Megyn Kelly Rips Hollywood After Oscars Tank: \u2018How\u2019s All That Incessant, Insufferable Woke, Depressing Lecturing\u2026Going?\u2019\">younger audience<\/a>. CEO Julie Felss Masino admitted the company&#8217;s diminished relevance due to outdated recipes and processes. \u2064Challenges and potential strategies for rejuvenation \u200cwere discussed, emphasizing \u2064the need for a revamped approach catering to a wider\u2063 demographic and evolving \u2063market conditions.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/commentary\/\">  Commentary <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/mlandry\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/mlandry\/%20\"><span>Mike Landry<\/span><\/a> <\/span> <span>   May 25, 2024 at 10:51am <\/span> <\/span>  <\/header>\n<section>\n<p>The Cracker Barrel Old Country Store restaurant chain isn\u2019t doing well.<\/p>\n<p>The company\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/meme-lords-just-figured-out-how-to-take-back-the-billions-wall-street-made-profiting-off-lockdowns-the-washington-standard\/\" title=\"Meme Lords Just Figured Out How To Take Back The Billions Wall Street Made Profiting Off Lockdowns\">stock prices<\/a> are at their lowest in over a decade, and the chain\u2019s 660 stores have lost 16 percent of their customers over the past four years.<\/p>\n<p>Cracker Barrel\u2019s stock price at <a href=\"https:\/\/www.google.com\/search?q=NADAQ+CRACKER+BARREL&#038;rlz=1CAZJXP_enUS922&#038;oq=NADAQ+CRACKER+BARREL&#038;aqs=chrome..69i57j0i22i30j0i390i512i650l3j69i61l3.777j0j7&#038;sourceid=chrome&#038;ie=UTF-8\" target=\"_blank\" rel=\"noopener\">Friday\u2019s market closing<\/a> was $45.62, some 20 percent lower than the $57.27 price on May 16.<\/p>\n<p>The company, based in he Lebanon, Tennessee, has launched a three-year, $700 million upgrading of its restaurants, is altering its menu and is seeking a younger clientele.<\/p>\n<p>But even its new CEO, who has been with the company for nine months, says Cracker Barrel is not as relevant as it once was.<\/p>\n<p>Cracker Barrel, home of fried <a href=\"https:\/\/www.westernjournal.com\/chipotle-chief-restaurant-officer-orders-staff-nationwide-help-preserve-supply-chicken\/\" target=\"_blank\" rel=\"noopener\">chicken<\/a>, lots of gravy, plenty of carbs, and gifts new and nostalgic in trouble? How can that be?<\/p>\n<p>What\u2019s going on with the iconic 54-year-old company whose brown and yellow billboards are almost as familiar as the signs identifying interstate highways along which Cracker Barrels almost always park themselves?<\/p>\n<p>Lots of reasons are creeping forth.<\/p>\n<p>\u201cWe\u2019re just not as relevant as we once were,\u201d the eatery\u2019s CEO, Julie Felss Masino, said on an investor call May 16, according to the <a href=\"https:\/\/nypost.com\/2024\/05\/23\/business\/cracker-barrels-ceo-admits-chain-not-as-relevant-as-we-once-were\/\" target=\"_blank\" rel=\"noopener\">New York Post<\/a>. \u201cSome of our recipes and processes haven\u2019t evolved in decades.\u201d<\/p>\n<div id=\"firefly-poll-container\">\n<p>Can Cracker Barrel be successful in today&#8217;s crowded restaurant landscape?<\/p>\n<\/p><\/div>\n<p>For a while, I\u2019ve been reading comment sections in stories about Cracker Barrel, and there have been repeated complaints about\u00a0 declining quality.<\/p>\n<p>In the Post\u2019s comment section, someone calling themselves WhoDat said: \u201cYears ago they had very <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-bunch-of-people-will-probably-die-during-mars-mission\/\" title=\"Elon Musk: \u2018Bunch Of People Will Probably Die\u2019 During Mars Mission\">good food<\/a> for very reasonable <a href=\"https:\/\/www.westernjournal.com\/biden-admin-totally-deplete-northeast-gasoline-reserve-bid-lower-prices-election\/\" target=\"_blank\" rel=\"noopener\">prices<\/a>.<\/p>\n<p>\u201cWe\u2019ve noticed it going downhill for the past decade. We don\u2019t have any near us but we\u2019d always stop whenever we were on a road trip. Haven\u2019t been back in years.\u201d<\/p>\n<p>A comment by a reader identified as \u201cSteve\u201d at investment advice site <a href=\"https:\/\/finance.yahoo.com\/news\/why-cracker-barrel-stock-dropped-172734231.html?guce_referrer=aHR0cHM6Ly9maW52aXouY29tLw&#038;guce_referrer_sig=AQAAAKn4XsJjnab73-1HuilbTDQjhdkkqY0YNmpF4MnXqvdd2vX17LttonGnDxQ4qhJ2ItOWY8jWUzfjKy_EgPN7k90fPB1-9qMXNE7domXwJ_uTPMIelZlZs8UhI1fothy3xz7Vl4Qm6mZqTt_xmbAPj_6KS2YzZNk3fTVRY4fpQClY\" target=\"_blank\" rel=\"noopener\">Motley Fool<\/a> \u2014 which was tepid about buying Cracker Barrel stock \u2014 said: \u201cAfter our last visit with my wife to Cracker Barrel, we decided with the many changes to menu and quality, it would be our last.<\/p>\n<p>\u201cThey should go back to their roots and reinvent themselves. It seems they have forgotten their core values to us.\u201d<\/p>\n<p>And analysis of Cracker Barrel\u2019s decline has to include the meme \u201cGo woke, go broke.\u201d<\/p>\n<p>With such a high amount of patronage by the elderly, the company made decisions to offend the traditional values of a key demographic by selling rocking chairs painted to reflect <a href=\"https:\/\/www.westernjournal.com\/cracker-barrel-goes-woke-lgbt-celebration-hidden-a\" target=\"_blank\" rel=\"noopener\">LGBT \u201cpride.\u201d<\/a><\/p>\n<p>What were they thinking?<\/p>\n<p>And Cracker Barrel is seeking younger customers, according to the Post. But the company could do that without a country-fied Bud Lite tactic.<\/p>\n<p>Provide good food and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/im-most-proud-of-getting-our-kids-back-at-school-floridas-desantis-on-which-policy-mattered-most\/\" title=\"\u2018I\u2019m Most Proud Of Getting Our Kids Back At School\u2019: Florida\u2019s DeSantis On Which Policy Mattered Most\">good service<\/a>, nice products in the gift shop, and continue a family-oriented nostalgia with an increased slant toward millennials. Do that and the appeal of the brand might remain.<\/p>\n<p>Of course, other factors come into play. Witness the woes surrounding other sit-down casual restaurants, such as <a href=\"https:\/\/www.westernjournal.com\/two-massive-restaurant-chains-may-joining-together-report\/\" target=\"_blank\" rel=\"noopener\">Applebee\u2019s<\/a>, <a href=\"https:\/\/www.westernjournal.com\/bidenomics-restaurant-bloodbath-continues-tgi-fridays-joins-applebees-red-lobster-closures\/\" target=\"_blank\" rel=\"noopener\">TGI Friday\u2019s<\/a> and <a href=\"https:\/\/www.westernjournal.com\/red-lobster-abruptly-closes-dozens-locations-largest-restaurant-liquidation-ever-underway\/\" target=\"_blank\" rel=\"noopener\">Red Lobster<\/a>, which filed for bankruptcy last Sunday.<\/p>\n<p>Is that a result of Bidenflation or lingering effects of the pandemic?<\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/cracker-barrel-waitress-blessed-1200-tip-may-god-glory\/\" target=\"_blank\" rel=\"noopener\">Cracker Barrel<\/a> says many of its senior customers stopped coming during the pandemic and never returned.<\/p>\n<p>Did the pandemic disrupt senior dining habits? Can many of them no longer afford to eat out?<\/p>\n<p>Except for things such as health care and memorial services, marketing to an elderly demographic will entail the loss of that group and the need to replenish it.<\/p>\n<p>Cracker Barrel has long had to deal with that reality but until recently seems to have overcome it. And the company can regain its market by aiming for competitive advantage that appeals to all but the youngest adults without <a href=\"https:\/\/www.westernjournal.com\/disney-inserts-lgbt-jedi-childrens-star-wars-show\/\" target=\"_blank\" rel=\"noopener\">children<\/a>.<\/p>\n<p>In fact, it\u2019s already gotten some younger adult attention. TikTok influencer @Abby.Spinach has challenged viewers to note that dresses from Cracker Barrel\u2019s merchandise section are comparable to those of upscale Anthropologie, but at lower prices, according to the Post.<\/p>\n<p>Meanwhile, the company hopes to stop its losses by remodeling stores inside and out and by altering the menus.<\/p>\n<p>They\u2019re looking to increase comfort by getting rid of the wooden chairs and providing booths and banquettes.<\/p>\n<p>While they won\u2019t say which items they\u2019re jettisoning, Cracker Barrel plans to take 20 items off the food menu. They say they\u2019ll add new items, such as chicken and rice, a new pot roast, and Shepherd\u2019s Pie in the fall.<\/p>\n<p>All in the hope of turning things around.<\/p>\n<p>\u201cCracker Barrel shared its multi-year strategic plan last week, which includes investing more in our stores to freshen up our approach over time,\u201d Cracker Barrel told the Post. \u201cWe are excited about what this means for our guest experience, including refreshed <a href=\"https:\/\/www.westernjournal.com\/nycs-ai-help-bot-issues-disgusting-advice-restaurants-rodent-problem\/\" target=\"_blank\" rel=\"noopener\">restaurants<\/a>, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/food-delivery-service-booms-in-brazil-amid-pandemic\/\" title=\"Food delivery service booms in Brazil amid pandemic\">delivering food<\/a> and an experience guests love.<\/p>\n<p>\u201cAs we execute our plans, we believe we\u2019ll create substantial value for all our stakeholders and will set the stage for Cracker Barrel to thrive for decades to come.\u201d<\/p>\n<p>Perhaps. But the answer is right in front of them without the MBA language \u2013 provide good food, good service and good merchandise at the right price.<\/p>\n<p>And don\u2019t insult the politics of your primarily rural demographic.<\/p>\n<p>Especially take care of that last one and maybe even I\u2019ll be back.<\/p>\n<p>______________________________________________<\/p>\n<div>\n<p><b data-stringify-type=\"bold\"><i data-stringify-type=\"italic\">An Important Message from Our Staff:<\/i><\/b><\/p>\n<p><i data-stringify-type=\"italic\">In just a few months, the world is going to change forever. The 2024 election is the single most important election of our lifetime.<\/i><\/p>\n<p><i data-stringify-type=\"italic\">We here at The Western Journal are committed to covering it in a way the establishment media simply will not: We will tell the truth, and they will lie.<\/i><\/p>\n<p><i data-stringify-type=\"italic\">But Big Tech and the elites don\u2019t want the truth out. 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You\u2019ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America\u2019s soul in 2024.<\/i><\/p>\n<p><i data-stringify-type=\"italic\">This is the time. America will live or die based on what happens this year. Please <\/i><i data-stringify-type=\"italic\"><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\" data-sk=\"tooltip_parent\">join us<\/a><\/i><i data-stringify-type=\"italic\"> to get the real truth out and to fight the elites, Big Tech, and the people who want America to fail. Together, we really can save the country.<\/i><\/p>\n<p><b data-stringify-type=\"bold\"><i data-stringify-type=\"italic\">Thank you for your support!<\/i><\/b><\/p>\n<p><i data-stringify-type=\"italic\">P.S. <\/i><i data-stringify-type=\"italic\"><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\" target=\"_blank\" rel=\"noopener noreferrer\" data-stringify-link=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\" data-sk=\"tooltip_parent\">Please stand with us<\/a><\/i><i data-stringify-type=\"italic\">!<\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-45512\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/mlandry\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-45512\">Summary<\/label><label for=\"more-info-tab-radio-45512\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-45512\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-45512\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>Mike Landry, PhD, is a retired business professor. He has been a journalist, broadcaster and church pastor. He writes from Northwest Arkansas on current events and business history.<\/p>\n<\/p><\/div>\n<div>\n<p>  Mike Landry, PhD, is a retired business professor. He has been a journalist, broadcaster and church pastor. He writes from Northwest Arkansas on current events and business history. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a commentary by Mike Landry on May 25, 2024, the Cracker Barrel Old Country Store faces challenges. Stock prices hit a decade low, with a 16% decline in customer traffic across its 660 stores in four years. Cracker Barrel&#8217;s stock price remains a concern as of Friday<\/p>\n","protected":false},"author":2018,"featured_media":2252871,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/Untitled-design-2024-05-25T133639.739.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2252870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/05\/Untitled-design-2024-05-25T133639.739.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2252870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2018"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2252870"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2252870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2252871"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2252870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2252870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2252870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}