The company reported 'meaningful' traffic declines in the most recent quarter.
. The company is also planning the beta launch of a new loyalty program in July that it believes will drive more guest traffic.
"I'm excited about the program, which incorporates all of our channels, including retail and features fun gaming elements. We believe the loyalty program will drive higher frequency, increase brand loyalty, and customer lifetime value and provide robust actionable guest data," Cochran said. Overall, Cracker Barrel is confident that its performance will improve in the long run. The company reported a 7.4% increase in same-store sales in the quarter, which it said was driven by the higher prices, and a 5.4% increase in revenue compared to the prior year.
"Although we expect continued pressures and choppiness in the short term, we feel good about our positioning over the medium and longer term," Cochran said.Zoe Strozewski is a News Writer for Eat This, Not That! A Chicago native who now lives in New Jersey, she graduated from Kean University in 2020 with a bachelor’s degree in journalism.
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