Why Cracker Barrel Stock Plunged 16% Last Month
Cracker Barrel(CBRL) The Motley Fool·2024-06-05 22:04
The business is losing money and management thinks it's time to refresh the branding.Shares of casual dining restaurant chain Cracker Barrel Old Country Store (CBRL 1.07%) plunged 16.2% during May, according to data provided by S&P Global Market Intelligence. The company rocked investors on May 16 when it cut its $1.30-per-share quarterly dividend by 80% to just $0.25 per share. At that time, management also gave its thoughts for turning around the business.Cracker Barrel is a business that needs a turnarou ...