Cracker Barrel

Financing

Cracker Barrel cuts corporate staff as sales and profits tumble

The restructuring comes after a difficult quarter for the family-dining chain, which is still reeling from its logo misstep, plus a tough economy. It expects a recovery to take some time.

Financing

Cracker Barrel board member ousted following activist pressure

Gilbert Dávila stepped down after losing a shareholder vote Thursday. It was a win for investor Sardar Biglari’s latest fight against the family-dining chain, but shareholders rebuffed him on other issues, including re-electing CEO Julie Masino.

Two key shareholder advisory firms are backing the activist’s argument that change is needed at the floundering family-dining chain, including the ouster of board member Gilbert Dávila. But they recommended that CEO Julie Masino remain in place.

The Bottom Line: The activist investor, who almost never talks to the media, took shots against the family-dining chain with the New York Post. And he again made some strange comparisons.

Cracker Barrel launches enhanced kitchen training for staff ahead of holiday menu rollout as chain works to recover from logo backlash and traffic declines.

The family-dining chain also made several leadership changes as it looks to get back on track following its rebranding debacle.

More than 44% of social posts made during the first 24 hours of the logo debacle were likely created by automated accounts with an agenda, according to PeakMetrics.

The Bottom Line: The family-dining chain had been outperforming its competitors and the broader full-service sector, until a social-media uproar tanked it all. But some of the loudest critics had clear agendas.

Working Lunch: This week's political podcast looks at why one investor won't let the casual-dining chain's logo saga go. And how brands can steer clear of the political tension around Charlie Kirk's death.

The owner of Steak n Shake, who also owns nearly 3% of Cracker Barrel, revived his long-running proxy fight following the chain’s logo debacle.

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