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Cracker Barrel Restaurants – The Country Side Food & Gift Chains
Cracker barrel is a household name in the United States to reckon with when it comes to mentioning the best combined restaurant and gift store chains in America. Here is some more about it!
The Current Status
At present, Cracker Barrel Old Country Store Inc., the Lebanon, Tennessee-based company, has 639 stores in 42 different states. The company has its mention on NASDAQ (CBRL) now since the past few years and its performance been impressive over there. As per the stats, the annual EPS figures for the Country Theme Restaurant & Gift chain have more than doubled after 2009. The First Quarter Fiscal 2017 Highlights for Cracker Barrel Old Country Store Inc., comprise the following outcomes:
- 3% increase in comparable store restaurant sales compared to the prior year first quarter
- Company’s tenth consecutive quarter of positive comparable store restaurant sales.
- Compared to $1.70 in the prior year quarter, earnings per diluted share were $2.01.
Based on the southern country theme, this undisputed restaurant industry leader provides quality services and has been a regular hangout place for many. The revenue of the company is $2.91 Billion. The net income of the company is $189.30 Million. The 2016 sales growth was reported at 2.5% as compared to the same time the previous year. The company holds a considerable employment of more than 73,000 happy workers.
The Concept of Cracker Barrel –
Customers who love Cracker Barrel should thank the fewer gasoline sales of Dan Evins. In order to attract the interest of highway travelers, the restaurant and gift store came into existence. Evins wanted a store which resembled the traditional country store that he remembered from his childhood. That’s why the theme and the name was chosen reflect the Southern County lifestyle a lot.
How it originated?
Cracker Barrel came in to fray with the efforts of Dan Evins, who was earlier associated with Shell Oil as a sales representative. Initially, the gift and restaurant store found it realms for the sake of improving gasoline sales. The first store was opened at Interstate 40, Lebanon, Tennessee in September 1969. Further, Evins incorporated the company in 1970. In the early 1970s, the firm leased land on gasoline station sites near interstate highways to build restaurants. By 1980 eventually, the company phased out the number of gas stations on-site as the company focused on its restaurant and gift sales revenues. To raise fund for further expansion, the company became public in 1981. In the IPO (Initial Public Offer) itself, the company raised $4.6 million. By 1987, with a 20% per annum growth, the company had sales over $81 million with more than a 50 units in eight states.
Giving back to the society –
Cracker Barrel is associated with multifarious projects that aim at giving back to the society. Some of its main nonprofits and charitable initiatives include:
- Operation Homefront
- The USO
- The National Military Family Association
- Children of Fallen Patriots Foundation
- United Through Reading
- The National Museum of the United States Army
The organization believes in taking care of its employees and works to achieve that through Employee Support. Its main programs comprise:
- Cracker Barrel philanthropic mission – Well-being of the employees and their families.
- Employee Scholarship Program – For employees and their children who excel in their studies and serve their communities.
- Cracker Barrel Cares– The motto of the company.
Facts to ponder upon
Just to spill some more beans about this famous restaurant chain, Cracker Barrel has 32 stores consisting of electric vehicle charging stations. Out of these 24 are in Tennessee and 8 in Texas. Each of its stores is spread across a sprawling 2.5 acres (10,000 sq.ft.) of land and has space for 177-207 seats. A bulk of its earnings, 40%, come from the travelers, and as for its advertising is concerned, it boasts of more than 1660 billboards all across the United States, just to remind you that one of its branches is close to your vicinity. Hence, if you are looking for investment opportunities than Cracker Barrel franchise is perhaps one of the best properties to put your money in.
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