Lebanon-based Cracker Barrel is celebrating its 40th anniversary by touting its relatively stable position in a weak market.
Speaking to potential investors Monday, CEO Mike Woodhouse called the last year the most challenging he’s seen in his career. He says the company has done slower business during the economic downturn. Even so, the restaurant chain has managed to stay just ahead of the market average.
Woodhouse says the key has been keeping cost-cutting measures out of the view of customers.
“Our foundation is solid because we haven’t changed stuff around in this past year. I wouldn’t like to be in a place where I was having to build out of a highly discounted situation or I’d changed the menu offerings just to satisfy in the short term.”
Cracker Barrel has streamlined both the way it gets food to the tables and its retail inventory system. Rather than dropping menu prices or portion sizes, Woodhouse says the company has added a few smaller options that cost less.
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