This can't end well. Cracker Barrel -- which has come under fire from the Left for being 'racist' in the past -- is now seeking to 'revitalize' its brand amid a struggling economy.
We're worried it'll go the same way as Red Lobster.
Cracker Barrel’s stock dropped sharply after its new CEO admitted in an earnings call that the chain of Southern country restaurants is not as “relevant” as it used to be.
During an investors conference call on May 16, Julie Felss Masino said the restaurant chain, based out of Lebanon, Tennessee,“ was not delivering the financial results that shareholders deserve,” USA Today reported.
“Cracker Barrel is a great concept and a great company,” Masino said during the call. “But to ignite growth, we must revitalize the brand.
“We’re just not as relevant as we once were.”
The restaurant is cutting its dividends by approximately 80% as it intends to invest heavily into overhauling its restaurants and updating its brand, according to The Wall Street Journal. The quarterly dividend will be trimmed from February’s $1.30 per share to 25 cents in August, the newspaper reported.
X users are not optimistic that this'll go well for the down home country restaurant.
Here's hoping we don't.
This. All of this.
Good food. Good service. Clean and cozy restaurants.
That's all it takes.
Ugh.
Please, no.
The most likely outcome, although three years seems generous.
That's how this plays out.
Please stop.
Heh.
Then it'll be fine!
They always do this -- change a business to 'attract' customers who will not be customers while alienating the actual customer base. It never works, and yet they keep doing it.
What's the definition of insanity again?
Nailed it.
It is whack.