Cracker Barrel has appointed David Deno as its new CEO, effective next month, replacing Julie Masino. The move comes as the chain struggles with declining sales and a failed rebranding attempt last year. Deno will inherit a company that has seen quarterly sales continue to drop since the rebranding reversal, which included a modernized logo and paused renovations. The chain also faced public backlash, including from former President Donald Trump, over its attempts to modernize its image.
Cracker Barrel's challenges mirror those of other casual-dining chains, such as Applebee's and Red Lobster. However, Chili's has successfully turned around its fortunes by revamping its menu, offering meal deals, and targeting younger customers on social media. Wendy Zajack, a marketing professor at Georgetown's McDonough School of Business, suggests Cracker Barrel could learn from Chili's strategy to regain relevance.
The chain's struggles have been ongoing, with Masino acknowledging in 2024 that Cracker Barrel is 'not as relevant as it once was.' The incoming CEO will need to find a winning strategy to reverse the decline and attract more customers to its antique-filled dining rooms.