Holler & Dash expanded to more than a half-dozen units before Cracker Barrel decided to purchase Maple Street for $36 million. He previously served as CEO of MOD Pizza, Johnny Rockets, and Friendly's, and as COO of Panera.Ĭracker Barrel's Older Customers are at All-Time LowĬracker Barrel's Push for Youthful Traffic is WorkingĬracker Barrel Has Strategies for All its Guests, Young and OldĬracker Barrel has been in the fast-casual breakfast business for roughly seven years, although the journey hasn't been a straight line. It began in 2016 with the launch of Holler & Dash, a trendy breakfast, brunch, and lunch chain targeting a millennial and Gen Z audience-much unlike Cracker Barrel's classic demographics. The company is now led by John Maguire, who joined in May 2022. It was founded by Scott More and Gus Evans in November 2012. Those locations are based in Alabama, Florida, Georgia, Kentucky, North Carolina, Ohio, South Carolina, Tennessee, Texas, and Virginia. Maple Street finished Q2 with 56 restaurants. So this is likely to be a problem for a little while longer while the supply chain problems and the labor issues continue to work their way through the system." "We actually are delayed on one of our new units because we couldn't pour the footings because of both weather and labor. "It's less of because we have fewer stores, but on each of the ones we have, it is a problem," Cochran explained. It opened one this fiscal year and sits at 665 outlets systemwide. The chain is looking to open three to four units in fiscal 2023. The same problem exists for Cracker Barrel restaurants, just on a smaller scale. So it's every one of those categories we probably have at least one issue in." In some cases, we can't get the labor to do the construction. In some cases, we can't get the equipment. "Some communities don't have as many people to do it. "Some cases, permitting is the issue," said Cochran during Cracker Barrel's Q2 earnings call. That's primarily because of construction delays. But on Tuesday, Cracker Barrel lowered its guidance to 15 stores to reflect the possibility that some units planned for late in the year will spill into fiscal 2024. Through the first two quarters, five have debuted, including three in Q1 (two in Texas and one in Georgia). Originally, the expectation was to open 15 to 20 Maple Street restaurants in fiscal 2023, which would mark the largest output since Cracker Barrel acquired the brand in October 2019 for $36 million. CEO Sandy Cochran said the company is "encouraged by the performance of these new locations" and that it's "looking forward to accelerating their growth in the back half of the fiscal year and beyond." In the chain's fiscal second quarter, the fast-casual breakfast chain opened in Columbus, Ohio, and Houston-both new markets. I'm excited about this opportunity, and I believe Cracker Barrel will help us grow our brand and further achieve our mission of helping people, serving others, and being a part of the community.Cracker Barrel is continuing to grow Maple Street Biscuit Company, although the economy isn't making it easy. “Our brands share many similarities such as scratch cooking and an emphasis on hospitality. "From the beginning, Maple Street Biscuit Company has focused on serving its communities through comfort food with a modern twist and gracious service,” Moore said in a statement. Moore will remain CEO of Maple Street Biscuit Company and will report to Cochran, according to a media release. There are 28 company-owned and five franchised locations across seven states. The fast-casual Maple Street Biscuit Company was founded by Scott Moore and Gus Evans in Jacksonville, Florida, in 2012. The Holler & Dash restaurants are in bustling parts of town, unlike Cracker Barrel stores/restaurants that are typically located near highway exits. The new brand positioned Cracker Barrel to compete in one of the fastest-growing segments of the dining industry and to target a new, younger clientele.
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