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Cracker Barrel Old Country Store, Inc. Message Board

  • yahoo yahoo May 13, 2005 12:01 AM Flag

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    • If you do, then you know that Evins is a senile
      old fart who couldn't find his ass with both hands
      and a flashlight. Ever heard the phrase "He's a
      legend in his own mind."?

      You just watch what
      happens to Woodhouse.

    • I work at a cracker barrel and have been there
      for 2 years.I think some of this waste comes in the
      form of district managers. these fellows make about a
      hundred grand a year for doing something the main office
      can do with some computer upgrades.Then you have the
      regional managers for the retail store.that also can be
      cut out with competent store managers and also
      computer upgrades at the home office level.Seems like this
      company has been doing buisness this way for 30 years and
      its time to make changes if they want a more
      efficient system.The food portions seem ok but they should
      construct more superstores to handle the crowded wait
      lines.This can also be added on to the existing stores.my
      opinion for what its worth

    • Thank you for the kind words. Your comments also
      reflect business strategies that payoff in spades over
      the long-run. No business is successful without good
      people from top to bottom. We can only hope the company
      has learned the right lessons from both past failures
      and victories.

      Much on this message board (and
      most other boards) is pure blue sky speculation,
      unless the writer can post verifiable facts. Given CBRLs
      long-term success, I am betting that the stock will turn
      north in the next three to six months. My biggest
      concern, as with any market correction or downturn, is
      that investors fail to shift to value stocks, which
      have historically outperformed the market. Good Luck
      CBRL.

    • Thanks for a well organized and rational message.
      As frustrated shareholders it's easy to assume the
      worst. I am sure that CBRL execs read this board.
      They'll tune out attacking
      messages...naturally.

      By now they understand there are plenty of angry
      people out here.
      CBRL has a good concept and a solid
      foundation. Maybe they have gotten fat, but we can't really
      tell from the financial information provided to the
      public. Elevated expenses could be related to system
      improvements, or investment their people (something that would
      make more of a difference than all the portion cutting
      and price raising suggested on this
      board).

      Value stocks like CBRL are being overlooked. We'll be
      OK in the long run as long as the new management
      understands how to build value rather than paper over
      problems or look for quick fixes.

    • all over. Rest chains tend to have patterns that
      they follow during their growing, maturing /
      surviving, and declining stages. Early CBRL profits were
      bolstered by real estate profits and a simple operation.
      The real estate dept would buy a larger tract,
      develope a CBRL, and sell off outsites and end up with
      little or no money in the actual CBRL site.That in part
      helped the stock surge in the early days. That is more
      difficult if not almost impossible to do now,besides they
      are to busy "putting out fires" at this point.
      Increasing prices in my opinion may not be good. Possibly
      cutting back on food portions, may be a solution, but
      then eggs, and fillers such as grits and gravy are
      relativy inexpensive. I have noticed that they are cheap
      with the jelly, and honey (price has gone up? )has
      dissapeared. But, we who chat on this board are a minority as
      compared to the real voters of confidance, the loyal folks
      who stand in line. If they were in a hurry they may
      have gone to McDonalds. And I don't see lines at Uncle
      Buds or Some/Most? Shoneys in the AM (at least where I
      go). And you can really pig out at the Shoney
      breakfast bar and spend time eating, not standing in line.
      But no, they make a choice to stand at CBRL instead.
      No, I think Transportation and central manangement
      expenses will be the items to check on the next financial
      report. CBRL is still my choice for breakfast, so far
      management has not screwed that up (yet). The waiting lines
      are a good sign. Be observant,if the lines quit
      forming at either CBRL or Logans, then watch out.

    • never complain, never explain.

      All CBRL
      shareholders are frustrated, but you guys can't just complain
      about the symptoms (decling stock price, SSS off,
      expenses up...etc.) without identifying the real problems
      and how to fix them.

      Saxxy, insiders have the
      right to buy and sell stock within legal guidelines.
      Before implying a crime has been perpetrated, you better
      have proof. We would all be shocked if CBRL compliance
      let an illegal transaction take place.

      As far
      as CBRL issues to be addressed, IMHO:

      1. SSS
      - CBRL increased prices last year and then lowered
      them; net effect is there has been a price increase.
      CBRL must be sensitive to their customers and raise
      prices as the market dictates. Instead of one 10%
      increase, identify product(s) that could withstand two, 2 -
      3% increases during the year.

      2. Expenses -
      unless you have DETAILED access to the books, none of us
      know what's buried in there. My bet is that management
      is cleaning up the books now while the stock is in
      the tank so that in 6-12 months they look like heros.
      Also, your missing the correlation between revenue and
      expenses. Generally, a company does not see the benefits of
      certain expense (especially advertising) until a later
      period. One other important item. This is still a
      PROFITABLE and GROWING entity.

      3. Stock Price -
      markets taking a hit right now. This is a value stock and
      someday (hopefully soon) the rest of the world will catch
      on to this bargin. By the way, management usually
      has a good deal of their personal net worth tied to a
      company's stock. I haven't looked over all their
      information. Does anyone know if there are minimum holding
      requirements for management and directors.

      4.
      Operations - Look at the lines of customers. The concept
      works for its market segment. If you want fast service,
      you'll go to a fast food or greasy spoon. If you want
      high quality, you'll go to Morton's or a local upscale
      restaurant. However for a moderately priced, country/family
      atmosphere, you're headed for CBRL. Keep up the quality,
      quantity, and "perceived value" and we'll always have lines
      to get in.

      5. Logan's Acquisition - We can
      all debate the steak house chain concept and whether
      or not there are too many (OSSI, STAR...etc.). In
      five years, you'll think CBRL stole this chain.
      Americans love dining out and they love beef. This too is a
      concept that should be able to adapt as times change.
      Note, management obtained favorable financing terms for
      this acquisition. When interest rates go higher,
      you'll thank the CFO and his crew.

      Make no
      mistake, somebody at CBRL is watching this board. They've
      dug the hole; they better show us they can climb
      out.

      Good Luck CBRL Longs.

    • We had breakfast again last Friday at the York Pa
      CBRL. I did notice some things here-to-fore which went
      un-noticed. There were many tables with large portions of
      food still on the tables when the patrons left. Now
      the food was good (as Allways) so I definitely
      believe there is a lot of waste. Instead of raising
      prices they should cut back the portions 10 or 12
      percent. This would be un-noticable to most of the
      customers and have a huge positive effect on earnings.
      Also, it would cost less for the disposal of wasted
      food, and help the environment. They should revise the
      menue to include more less pricey items. Here is my
      reasoning: I had the Moma's pancake breakfast which lists
      for 6.29 (with meat & three large pancakes).
      Previously they were offering the same item on special for
      4.39 (with 2 pancakes). The three huge pancakes is
      just too much along with the Bacon (real thick) and
      supposedly 2 eggs very (skimpy). I ordered it special with
      only 2 pancakes and they charged me 4.99 which was
      reasonable and I had just enough of food. Now my wife who is
      not a "Pig eater" ordered the manger's special deep
      dish breakfast casserole for 4.99. There was enough of
      food in this to stuff anybodys gut, so she only ate a
      little over half of it. Since, I am paying the bill, I
      hate to see food go to waste, so I finished off her
      casserole. I was stuffed more than I am when I go to the Old
      Country Buffet and pig out on everything. With large eggs
      below 65 cents a dozen retail, why do they need to be
      so skimpy on their (scrambled eggs). I swear usualy
      they only look like one egg. These are just some more
      of my personal observations. Any comment from: THE
      GOOD CHICKEN?

    • I do not feel that price increases would be near
      as effective as cutting expenses. With the amount of
      business, there is no reason to be spending much on
      advertising. Any business can find a way to cut other expense.
      Why have the customers feel that prices are probably
      being increased because the traffic will bear it?
      Besides, I think the prices are well in line to be making
      plenty money if everything is managed as it shoul be.

    • I stop at different CBs several times during the
      year, mostly for b'fast, but sometimes for lunch or
      dinner. I started looking at buying some CBRL about a
      year ago, then decided not to. Started looking again
      in the last couple months, but it appears there are
      still some issues to sort out before I plunk my money
      down.

      I'm not so sure that raising prices is going to help
      substantially in the short-term, and could hurt longer-term.
      The fact that people are willing to wait 30 min to an
      hour or more to get in is very positive, but my last
      couple of visits makes me wonder why they're having to
      wait. Service once inside the restaurant was slooowwww.
      It's one thing for lines to form because volume
      exceeds capacity. If the restaurants can't adequately
      service their capacity though, it bogs things down even
      further. I have looked at the lines before and elected not
      to wait, and I'm sure others have as
      well.

      Raising prices may help fatten the margins on those meals
      you actually sell, but will people continue to wait
      *longer* than should be necessary AND pay *higher* prices?
      I'm not in the restaurant business, so I don't
      presume to be able to tell CBRL how to run them. I *can*
      say though, as a consumer, price matters, and Cracker
      Barrel's prices seem to be pretty fair value right now. An
      increase in price, without offset by quicker service (I
      can't complain at all about quality/quantity of food)
      would cut into some of my visits, and I'm betting on
      others also.

      It seems to me that mgmt should look
      at staffing situations: number of staff, recruitment
      of quality people, proper training, and appropriate
      compensation to keep good people. If you can move more
      customers through quicker, volume could pick up. The
      quicker service may also help justify nominal price
      increase. One (higher prices), without the other, however,
      will not help in the bigger picture.

      Luck to
      all of you

    • The fact that someone may exercise options under
      Rule 144 during open windows does not give them a
      license to trade while in possession of inside
      information that if disclosed to the public would have a
      material impact on the price of the company's stock. You
      can't tell me the Controller of the company didn't have
      any idea that earnings would be 40% short of analyst
      projections for the quarter just 2 or 3 weeks prior to the
      public announcement. This is blatant and the SEC should
      take a look.

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CBRL
100.41+0.22(+0.22%)Aug 29 4:00 PMEDT

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