A beloved American institution is undergoing some significant changes. That’s right, Cracker Barrel, the iconic “old country store,” is on a path to transformation under the guidance of its new CEO, Julie Felss Masino.
With stocks slipping and a noticeable decline in its loyal clientele over the past few years, Cracker Barrel is looking to make some big moves to regain its relevance and charm.
Julie Felss Masino, who stepped into the CEO role just nine months ago, is on a mission to breathe new life into the Tennessee-based company. During a recent investor call, she candidly acknowledged, “We’re just not as relevant as we once were.” She pointed out that many of Cracker Barrel’s recipes and processes have remained unchanged for decades, signaling a need for evolution.
So, what does this mean for all the Cracker Barrel fans out there? Brace yourselves for a fresh image and exciting new menu items! The chain, famous for its Southern country ambiance and comfort food, is planning a comprehensive $700 million rebrand. This includes test runs of new dishes like green chili cornbread, banana pudding, and hash brown casserole shepherd’s pie across various locations.
“The brand has lost some of its shine,” Masino remarked during the call, emphasizing the necessity for the company to evolve. However, she assured that Cracker Barrel would maintain its iconic rustic charm even as it updates its colors and overall image.
Girl Boss CEO of Cracker Barrel causes investors to fire 🔥 sell off stock after telling them that the iconic restaurant-chain “is no longer relevant.” pic.twitter.com/6dTKxRtvkH
— Jason Neptune🌴 (@SobrietyCM) May 25, 2024
One significant challenge has been the return of its largest customer demographic—those aged 65 and older. Many have not returned to dining at Cracker Barrel since the onset of the COVID-19 pandemic. The goal now is to refresh the brand in a way that’s noticeable and appealing while still feeling unmistakably like Cracker Barrel.
Feedback on these changes has been generally positive so far, which is a good sign for the chain. However, customers should be aware that there might be some price adjustments. Masino mentioned potential price increases in certain areas while cutting costs in others, all without compromising Cracker Barrel’s commitment to value.
It’s important to note that while these changes are promising, management does not expect to see the full benefits of their investments until the second half of 2026 and 2027. This long-term vision underscores the strategic and careful planning behind the rebranding efforts.
Folks, if you’re a fan of Cracker Barrel’s classic charm and comforting menu, it looks like there’s a lot to look forward to. With new dishes, a fresh look, and a commitment to evolving while staying true to its roots, Cracker Barrel is aiming to win back hearts and appetites across the nation. So, keep an eye out for these exciting changes the next time you visit!
