Cracker Barrel

Delivered November 10th, 2019. Contributors: McCaw, Toyoabasi E. and

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Cracker Barrel

Cracker Barrel is a nationwide restaurant chain with locations in 45 states.  It has employed Havas Chicago as it's advertising and marketing agency of record.  One of their television commercials created in 2019 celebrated Cracker Barrels 50th anniversary.
Cracker Barrel — General InformationCracker Barrel has its headquarters in Lebanon, Tennessee.
The leadership team includes President Sandra Cochrane, Senior Vice President Doug Couvillion, Senior Vice President Laura Daily, and Senior Vice President/Chief Financial Officer Jill Golder.
 Don Hoffman is the chief marketing officer for Cracker Barrel.  He is also the senior vice president for marketing.
Cracker Barrel — LocationsLocated in 655 locations over 45 states, Cracker Barrel employees more than 73,000 staff.
Cracker Barrel — Financial InformationOver the fourth quarter of 2018, Cracker Barrel had revenue of $810.9 million. This represented a growth of 9.1% from the 2017 fourth quarter.  
For the 2018 year, Cracker Barrel reported revenue of $3.0 billion. This was an increase of 3.6% from 2017.
As a public company, Cracker Barrel trades on the NASDAQ under the symbol CBRL 
Cracker Barrel — MarketingThe current agency of record for Cracker Barrel is Havas Chicago.  
Recent Creative ExamplesEarly in 2019, Havas Chicago created the "Southern Bowls" television advertisement to promote the new southern flavored menu that was available for a limited time.
In 2019 a "Homestyle Favorites" television advertisement was created by Havas Chicago to promote 50 years of homestyle favorites.
The "Every Little Thing: The Hat" television commercial is another example of Havas Chicago's creative work.  It aired in late 2017, and was used to promote weekday lunches.
The "50 Years" television commercial created by Havas aired in 2019, to celebrate Cracker Barrel making guests "feel right at home for 50 years."
To celebrate old customer favorites like Sunday Homestyle Chicken, Havas created the "One to Remember" television commercial in 2019.
"Warm Feelings of Home" was a 2018 television commercial created by Havas for the 2019 holiday season.
Research StrategyBy searching a range of marketing and advertising articles, we were able to identify Havas Chicago as the agency of record for Cracker Barrel. Having located the agency of record, we reviewed the television advertisements the agency has created in the last 24 months for Cracker Barrel. We have provided six examples of their creatives. These examples all aired in the last two years.  We have incorporated the previous research into this research.

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Cracker Barrel - Competitors

Five true competitors Cracker Barrel include Texas Roadhouse, Wendys Co, Shake Shack Inc., Denny's Corporation, and the Cheesecake Factory.
Texas RoadhouseThe website link of Texas Roadhouse is here.
According to CNN Business, Texas Roadhouse is listed as one of the competitors of Cracker Barrel in terms of market capitalization and similarities in service rendered.
Analysis of the company's website reveals that they operate in the restaurant space similar to Cracker Barrel.
Wendys CoThe website link of Wendys Co is here.
Wendys Co is mentioned as a competitor of Cracker Barrel in terms of market capitalization and similarities in services rendered by CNN Business.
Analysis of Wendy's website shows that they operate in the restaurant space just as Cracker Barrel.
Shake Shack IncThe website link of Shake Shack Inc is here.
Shake Shack Inc is listed as one of the competitors of Cracker Barrel by CNN Business in terms of market capitalization and similarities in the services they offer.
 Shake Shack Inc & Cracker Barrel operates in the food & retail space.
Denny's CorporationThe website link of Denny's Corporation is here.
Denny's Corporation is listed as one of the competitors of Cracker Barrel by Crunchbase and Hoovers in terms of similarities in the services they offer.
Analysis of Denny's website shows that they operate as a restaurant & food chain similar to Cracker Barrel.
The Cheesecake FactoryThe website link of Cheesecake Factory is here.
The Cheesecake Factory is listed as one of the competitors of Cracker Barrel in terms of market capitalization and similarities in service rendition by Craft.
Analysis of the Cheesecake Factory's shows that Cheesecake operates in the restaurant & food space similar to Cracker Barrel.
Research StrategyTo identify actual competitors to Cracker Barrel, we analyzed the company's website in order to understand the services and areas of operation of the company after which, we leveraged a list of competitors of Cracker Barrel provided by business directory experts such as Crunchbase, Craft and Hoovers, and other trusted financial valuation sources such as CNN Business and Comparably. Next, we scoured through the websites of the companies identified as competitors in search of those who offer similar services as Cracker Barrel. 

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Cracker Barrel - Competitors: The Findings Part One

Texas Roadhouse Inc is located in Louisville, KY with 64,900 employees and a 2018 revenue of $2.5 billion. Wendys Co 2018 revenue is $1.6 billion, and the company has 12,500 employees.
Texas Roadhouse IncTexas Roadhouse Inc revenue for 2018 was $2.5 billion.
The company has about 64,900 employees and operates 563 locations in 49 U.S. states and other countries of the globe such as Kuwait, Bahrain, Saudi Arabia, the United Arab Emirates, Qatar, Mexico, the Philippines, and Taiwan.
Company Description Texas Roadhouse is a large, casual dining restaurant chain, that offers assorted seasoned and aged steaks.
The company ran restaurants under the name Texas Roadhouse and Aspen Creek and was founded on February 17, 1993, by W. Kent Taylor with its headquarter located in Louisville, KY.
Texas Roadhouse also offers a selection of fish, seafood, ribs, chicken, pork chops, and vegetable plates and offers administrative & supervisory services for license and franchise restaurants.
Competitive AdvantageTexas Roadhouse can ward off competitors by innovating new products and services. This helps them land new customers while consolidating the positioning of an older customer.
The company invests massively in research & development to remain on top and define the business terms of the industry.
 Texas Roadhouse has a robust, efficient, and multiple supply chain who largely depend on them for bulk purchase thereby helping them remain dynamic in times of price instability.
Texas Roadhouse has remained service oriented instead of focusing on the product, and they request feedback from customers to help them optimize their services to them.
The company draws a large pull of customers, thereby streamlining its sales and production activities.
WeaknessesThe weaknesses of Texas Roadhouse Includes gaps in the product range by the company, high day inventory, high workforce attrition rate, and need for more investment towards R&D.
Also, the company lacks a well-structured & efficient financial planning.
Wendys Co Wendys Co's 2018 revenue was $1.6 billion.
The company has about 12,500 employees and operates 6,208 locations in the U.S. and Canada.
Company Description Wendy's Co. is a quick-service restaurant that functions in the operating, developing, and franchising workspace.
Its product offering includes hamburgers and related products, such as nuggets, chili, chicken breast sandwiches, and baked potatoes, among others.
The company was founded on November 15, 1969, by R. David Thomas and is headquartered in Dublin, OH.
Competitive Advantage  The company is graced with about 50 years of extensive experience in the restaurant space.
The brand positioning of Wendys Co is robust and well felt in the U.S.
 Wendys Co is poised to spend about $25 million in digital initiatives such as new scanning equipment to help improve service speed.
The company is working towards increasing its global presence, both domestically and internationally. In 2018, Wendys Co added 77 new units.
Weaknesses Wendys Co has shallow geographical footprint outside of Northern America.
The source of income is also monotonous, causing the company to lack diversification in services rendered.
Their product and services and method of the transaction are prone to imitation from competitors.
Shake Shack IncShake Shack's revenue for 2018 was $459.3 million.
The company has about 6,100 employees and operates 79 locations in 31 U.S. states and 86 locations in 15 other countries, including China, Qatar, the United Kingdom, and others.
Company Description  Shake Shack, Inc. is a holding company that engages in managing fast-food hamburger restaurants.
 Product offerings include flat-top dogs, Angus beef burgers, cage-free chicken, crinkle-cut fries, craft beer, spun-fresh frozen custard, and wine.
Shake Shack Inc was founded in 2014 by Daniel Harris Meyer with its headquarter located in New York, NY.
Competitive Advantage The company employees rate the company high concerning the comprehensive treatment of employees, thereby enabling them to retain the trained and experienced employee.
The company tends to uphold its values and culture in dealing with customers.
Shake Shack Inc has an efficient and well-trained customer service agents that help them improve customer retention.
The company has high growth potential in terms of increasing margin and expansion plans.
Weaknesses The company's weaknesses include low profitability ratio and percentage net contribution, low commitment in R&D compared to industry leaders, gaps in the product range by the company, high day inventory, and a significant workforce attrition rate.
Shake Shack Inc lacks well-structured financial planning.

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Cracker Barrel - Competitors: The Findings Part Two

Cracker Barrel is located in Lebanon, TN, with 73,000 employees and a 2018 revenue of $3.1 billion. Denny's Corporation 2018 revenue is $630.2 million, and the company has 9,000 employees.
Cracker BarrelCracker Barrel Inc revenue for 2018 was $3.1 billion.
The company has about 73,000 employees and operates 645 locations in 44 U.S. states.
Company DescriptionCracker Barrel deals in the operation and development of retail outlets & restaurant.
The company ran restaurants under the name Cracker Barrel and was founded on September 19, 1969, by Dan W. Evins with its headquarter located in Lebanon, TN.
Cracker Barrel stores consist of a "trademarked rustic old country-store design that offers restaurant menu featuring home-style country food."
Competitive AdvantageCracker Barrel offers diners a sophisticated menu, including breakfast options. This enables them to secure families interested in their menu as lifetime customers.
The company has 50 years of extensive experience in the restaurant space.
The company boasts with its team of highly loyal staff who helps them attract and retain customers through their friendly service.
Cracker Barrel does not offer any alcoholic product in all of its restaurants or retail outlets. The company believes that serving alcoholic drinks takes away the family facet from the chain, thereby making it the same with other regular food chains.
Their restaurants are created to generate a family experience for diners helping them remain the number one family choice restaurant.
WeaknessesThe company lacks sufficient investment in new methods & technologies of retailing.
The gap in the product range sold by Cracker Barrel gives room for competitors to take action.
They have been unsuccessful in bringing firms with different work values and culture together.
Cracker Barrel is not efficient with market forecast leading to loss of opportunities.
Denny's Corporation Denny's Corporation's 2018 revenue was $630.2 million.
The company has about 9,000 employees and operates 1,700+ locations in Canada, U.S., Costa Rica, Guam, Mexico, New Zealand, Honduras, and Puerto Rico.
Company Description Denny's Corporation manages a restaurant chain in charge of Denny's restaurant brand. Its services include the provision of all kinds of breakfast, lunch and dinner meals.
Its product offering includes crave-able burgers, salads, sandwiches, and entrees. They also offer appetizers and desserts to cater, among others.
The company was founded in 1953, by Harold Butler & Richard Jezak with its headquarter located in Spartanburg, SC.
Competitive Advantage The company has 66 years of unrestricted experience in the restaurant space.
They have also updated their online presence and created a new brand-revitalization strategy which is helping them drive customer presence.
 Denny's Corporation is targeting baby boomers (aged 50 to 68 years) and is now implementing strategies to capture millennials and second-generation immigrants into their customer net.
Through its new marketing strategy, the company is awakening the 90s' diner atmosphere in its restaurants while aligning its menu with the taste of 21st-century consumers.
WeaknessesThe company lacks sufficient marketing techniques to keep them in line with what the industry leaders are doing.
There are breaches in the product range sold by the company gives room for competitiveness.
They have been unsuccessful in integrating firms with different work values and culture together.
Cracker Barrel is not efficient with market forecast leading to loss of opportunities.
The Cheesecake FactoryCheesecake Factory's revenue for 2018 was $2.3 billion.
The company has about 38,700 employees and operates over 200 locations in the U.S. and other locations, including the United Arab Emirates, Dubai, and Hong Kong.
Company Description  The Cheesecake Factory is a holding company that engages in managing fast-food restaurants through the Cheesecake Factory and other segments.
Its other segments include Grand Lux Cafe, bakery, RockSugar Southeast Asian Kitchen, international licensing and consumer packaged goods.
Its menu includes appetizers, pizza, seafood, chicken, burgers, steaks, small plates, kinds of pasta, sandwiches, omelettes, salads, and desserts.
The Cheesecake Factory was founded in 1972 by David M. Overton, Oscar Overton, and Evelyn Overton with its headquarter located in Calabasas Hills, CA.
Competitive Advantage The company has about 47 years worth of experience in food chain management.
According to an Insider report, Cheesecake Factory is well-known for its "extensive menu, which is nearly 6,000 words long and lists more than 250 items."
The large variety of menu and flavor offered by the company helps them generate built-in advertising when consumer discusses them on social media channels.
Through its shipping partners Harry & David, Cheesecake Factory products are shipped to any location in the United States.
The company is one of the 2018 Fortune 100 companies to work, making it the fifth consecutive time the company is retaining the spot due to its employee treatment and retention techniques.
Weaknesses The company's weaknesses include low profitability ratio and percentage net contribution, low commitment in R&D compared to industry leaders, gaps in the product range by the company, high day inventory, and a significant workforce attrition rate.
The Cheesecake Factory lacks well-structured financial planning.

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Cracker Barrel - Media Scan

Recent news about Cracker Barrel primarily centers on the closing and opening of new retail spaces, support for the U.S. military, and acquisitions made by the company. Cracker Barrel recently donated $10,000 to the Armed Services YMCA branches in support of healthy food distribution, emergency food assistance programs, and nutrition education. An outline of some interesting news about the company within the past 24 months is provided below.
1. October 23, 2019: Targeting a Younger AudienceA link to the article is here.
 Caption: Cracker Barrel targets younger generations with new restaurant chains.
Cracker Barrel consolidated its plans to pursue the younger generation through the acquisition of an entertainment restaurant chain known as Punch Bowl Social and the Maple Street Biscuit Company.
2. August 9, 2019: Spending to Regain OwnershipA link to the article is here.
 Caption: Cracker Barrel invests $120,000 to get back the original store according to terms, but who sold it?
Cracker Barrel spent about $120,000 in logistics cost for its Wilson County store with plans to channel the materials to other Cracker Barrel sites still under construction.
3. July 23, 2019: Acquisition of SharesA link to the article is here.
 Caption: L Catterton Sells Stake in Punch Bowl Social to Cracker Barrel.
In the month of July, L Catterton, one of the top consumer-focused private equity firms, announced the sale of its 20% stake in the leading entertainment restaurant, Punch Bowl Social, to Cracker Barrel Old Country Store for an undisclosed fee.
4. April 17, 2019: Donation to Military FamiliesA link to the article is here.
Caption: Cracker Barrel Old Country Store to Serve Donated Meals to 5,000 Military Family Members this Easter.
To reiterate its support for America's armed forces, Cracker Barrel Old Country Store donated Heat n' Serve Easter Family Meals to serve to about 5,000 military families during Easter weekend.
5. January 14, 2019: Election of a New Board MemberA link to the article is here.
 Caption: Cracker Barrel Old Country Store Elects Carl Berquist to Board of Directors.
The organization announced the appointment of Carl Berquist as part of the company's Board of Directors.
6. December 11, 2018: Launching of Licensed Home GoodsA link to the article is here.
 Caption: Cracker Barrel Old Country Store and Country Living Announce Exclusive Collection.
A partnership between Country Living magazine and Cracker Barrel Old Country Store saw the launch of the licensed home goods & apparel collection, which is exclusive to Cracker Barrel stores only.
7. February 2, 2018: Retail Opening in Victorville, CaliforniaA link to the article is here.
 Caption: Cracker Barrel Old Country Store Opens First California Location in Victorville.
Cracker Barrel announced the opening of its first Victorville, California restaurant targeting families and travelers.
8. March 20, 2018: The Opening of Belton, Missouri RestaurantA link to the article is here.
 Caption: Cracker Barrel to open the first restaurant in Missouri since 2005.
The food chain announced its plan to open its first establishment in Belton, Missouri, since closing in 2005. The location of the 180 seat store will be 6751 E. 163rd St.
9. May 23, 2018: Honoring Military Expectant MothersA link to the article is here.
 Caption: Cracker Barrel Old Country Store Partners with Operation Homefront to Honor 100 Military Moms-to-Be.
Cracker Barrel Old Country Store stunned 100 military moms-to-be with one iconic rocker each at a special Star-Spangled Babies shower which was hosted by Homefront at the Southeast Armed Services YMCA in Colorado Springs, Colorado.
10. December 3, 2018: Closing of Kalamazoo-Area StoreA link to the article is here.
 Caption: Cracker Barrel in Kalamazoo-area closing because of salmonella
In December 2018, the food chain announced the closing of its store in the Kalamazoo area due to contamination.
11. October 1, 2019: Support Grant for Armed Service MembersA link to the article is here.
 Caption: Armed Services YMCA Receives Grant from Cracker Barrel Old Country Store Foundation
On October 1, 2019, the organization provided a $10,000 grant to support healthy food distribution, emergency food assistance programs, and nutrition education at the Armed Services YMCA branches at Fort Bragg, North Carolina, and Fort Campbell, Kentucky.