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Cracker Barrel upgrades three popular menu items
New York Post • • business
Key Points:
- Cracker Barrel plans to upgrade its chicken, hamburger, and steak dinner offerings to improve food quality and guest satisfaction, focusing on dinner as its "biggest opportunity."
- CEO Dave Deno emphasized priorities on food quality, guest experience, and employee retention as key drivers for improving traffic and profitability.
- The company completed a sale-leaseback transaction of 26 company-owned restaurants, generating $77 million in net proceeds used to reduce debt, lowering total debt by $147.4 million year-over-year.
- Despite some pressure among lower-income consumers, Cracker Barrel's value proposition remains strong with an average guest check around $16, and the company has factored higher freight and fuel costs into its fiscal 2027 outlook.
- Deno became CEO in August after a controversial rebranding effort under former CEO Julie Masino, which involved a $700 million investment in restaurant updates and temporary removal of the chain's iconic logo.
