An American dining institution's shares have plunged recently following the CEO's admission that the restaurant concept is no longer keeping up with the times.
Cracker Barrel, the iconic chain with 662 country-themed restaurants nationwide, appears to be losing its lustre. Throwing gasoline on the fire, its CEO Julie Felss Masino delivered a blunt assessment to investors, admitting, "We're just not as relevant as we once were," in a recent investor call. Masino, barely nine months at the helm, acknowledged a critical issue: "Some of our recipes and processes haven't evolved in decades."
