AUSTIN, Texas — Fried chicken, biscuits and gravy are all classic menu items served at Cracker Barrel. The restaurant chain is found in almost all 50 states across the U.S. – but now, the company is undergoing changes.
"We're just not as relevant as we once were," CEO Julie Masino said in a recent conference call.
Cracker Barrel has created a "strategic transformation plan" highlighting changes to its overall brand, menu, digital presence, and customer and employee experience to increase relevancy and expand profit.
"Cracker Barrel is an iconic brand with an exceptionally strong foundation, and I firmly believe our plans will allow us to capitalize on our strengths and deliver long-term success," Masino said.
New to the menu
New menu items could be coming to Cracker Barrel locations across the country. According to Masino, the chain has been testing out green chili cornbread, banana pudding and more.
Later this year, the restaurant also plans to add hashbrown casserole shepherd's pie, premium savory chicken and rice and slow-braised pot roast.
While some items might no longer be available, more than 20 new ones could take their place.
Possible price changes
Part of the store's plan is to increase prices in certain locations but decrease them in others.
"For example, we have stores in metro areas with an average annual household income of $55,000 in the same pricing tier as one with $90,000," Masino said.
Thus, price points could be reflected based on different demographics.
"We understand the lower-end consumer is challenged and value is and will remain an important part of the brand and we will work vigorously to protect it," Masino added.
Store and restaurant updates
Cracker Barrel isn't just known for its food. The chain also operates a country store, with items like indoor and outdoor home décor available in-person and online. Starting this fall, a smaller store prototype will be introduced for testing.
As for the restaurant itself, customers could soon be greeted by "a different color palette," updated lighting, new seating options and more.
"Our board, our management, and our teams are excited about our plans and are already hard at work to make them a reality," Masino said.
The company hopes to grow overall capital by approximately $100 million between 2024-2027, making a new mark for the 55-year-old chain.
