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REVEALED: The Cracker Barrel store closures so far in 2024
Cracker Barrel has shut four stores so far this year - as the beloved family chain battles for survival.
Stock for the Southern country-themed chain has plummeted in the past week after the company's CEO said the restaurant is no longer 'relevant'.
Julie Masino was talking to investors as she outlined plans to turn things around at the chain, which until the closures had 662 outlets across 45 states.
Popularity has waned over the past decade - with its loyal clientele of elderly people failing to return after the pandemic.
To cut costs, it has already shuttered four stores this year: two in California, one in Oregon and anther in Colombia, South Carolina. See below for full details.
Cracker Barrel has lost a significant 16 percent of diners over the past four years - and the trend is ongoing
Cracker Barrel says it will open two more lcoations this year. It is not clear if it will shut any more.
Last year it shut three other stores in Oregon.
The fall in cutomers has hit the share price in recent years.
But the price tanked even more after its chief executive Julie Felss Masino told investors: 'We're just not as relevant as we once were.'
She was speaking on an investor call.
Masino, who took over the CEO position nine months ago, admitted: 'Some of our recipes and processes haven't evolved in decades.'
On Thursday May 24, Cracker Barrel traded as low as $45.35 - its lowest level in over a decade.
The restaurant rose to prominence after it was founded in 1969 as patrons flocked to its all-American dishes, like biscuits and gravy and fried chicken.
On the closures, Cracker Barrel said in a statement: 'The decision to close a store is never one we take lightly, and our focus right now is on assisting our impacted employees during this transition.'
445 Center Drive in Medford, Ore
253 Forum Drive in Columbia, S.C
1000 Howe Ave. in Sacramento, Cal
905 Betteravia Road in Santa Maria, Cal