The sales numbers are an impressive turnaround for a company that looked like it was on the brink of collapse at the start of 2024.
By BEN SHIMKUS, CONSUMER REPORTER FOR DAILYMAIL.COM
A pair of new shrimp-based plates are also hot sellers. Breakfast and lunch traffic also improved.
While the company rolled out these new items, sales beat expectations. Same-store sales climbed 4.7 percent in its fiscal second quarter (November through January), marking its third straight quarter of growth.
Masino highlighted the company’s pricing competitiveness as a key factor for the red-hot sales.
Cracker Barrel’s average check for the quarter was $15 per person. That is lower than the industry average for both casual dining, which is $28, and family dining – $18.
Executives said the low prices also gave them a bit more cushion: the company increased prices by 6 percent in the second quarter and expect a 5 percent hike in 2025.
Guests also rated the brand higher than previous quarters on food quality, menu options, service, and overall experience.
The sales numbers are an impressive turnaround for a company that looked like it was on the brink of collapse at the start of 2024.
Cracker Barrel tried to invest in its operations while also shutting down several underperforming stores.
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The store is revamping its interior designs while attempting to maintain its country aesthetic
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The restaurant launched several dinner plates in the last quarter – they’re reportedly sales hit
It appears the investing and store-closure tango largely worked in 2024. But the company still faces sustained headwinds.
Masino said fewer customers went to Cracker Barrel in February 2025 than expected.
The February slump is part of a larger trend in the restaurant industry as more consumers turn away from restaurants to combat rising prices.
Multiple restaurants, including Wendy’s, Taco Bell, and Texas Roadhouse, said that traffic has been slower than expected to start 2025.
The customer changes are likely due to a years-long issue for customers: high prices.
Inflation has been particularly hard on restaurant-goers, as prepared food prices have outpaced price hikes for groceries.
In the latest CPI, restaurant prices rose 3.4 percent. At-home grocery prices rose 1.9 percent.
‘There is some consumer angst out there,’ Craig Pammels, the brand’s CFO, said in the earnings call.
‘But we have factored that into our thinking and into our expectations.’