Cracker Barrel's stock in freefall after CEO admits chain ‘just not as relevant as we once were'

Its senior clientele, among its most loyal, fled during the pandemic and many have since failed to return. In response, Cracker Barrel said last Thursday it plans to spend as much as $700 million over the next three years. Top brass says the company can fix some of its problems by updating its menu and marketing and "refreshing the interior and exterior" with a "different color palette." Cracker Barrel is undergoing a three year turnaround that will add booths and banquettes to its restaurants for the first ...