Cracker Barrel Old Country Store, Inc. Message Board

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.