Crackle Barrel has been in the news a good bit over the past two weeks. I'll try to sum up the spiral with four observations:
1. Late 2023....C-B's board hired a new CEO (Masino). What you can say....she has 20 years of food brand work, and was qualified for the job. What she decided was the right business direction (after Covid) was re-branding the operation (currently 600-plus restaurants.
2. What few grasped...was from early 2020 to late 2023....they (C-B) were inflicted with Covid-numbers....meaning a weird business spiral. So one might question the need to re-brand.
3. Then you come to inflation. That breakfast platter in 2019 that was $9.99 (without coffee) went up a buck or two, or three). That dinner plate in 2019 that was $15.99.....today might be $21.
4. Finally, people are pretty tight on money right now. So back in 2018, you might have eaten out five times a week, between breakfast and dinner....today, you probably eat out just twice a week.
What'll happen here? By spring of 2026...I expect the CEO to be let-go, and a new person brought in.....to 'un-brand' the organization, and go back to the old style.
