Cracker Barrel Old Country Store (CBRL) AGM 2016 presentation summary

Strategic plan

• The Enhance, Expand and Extend roadmap, introduced in 2012, focuses on strengthening the core business, growing the store footprint and extending the brand.

• Priorities include protecting the current guest base while attracting new generations, building an outstanding employee and guest experience, and maintaining brand differentiation.

Core business initiatives

• Seasonal limited-time entrees and core favorites were used to offer variety and everyday affordability; promotions were credited with improving sales mix.

• A fully integrated summer campaign promoted the Campfire Flavor menu across marketing channels.

• Holiday family meals to go target time-starved consumers and aim to shift demand beyond holidays, improve in-restaurant execution and drive incremental sales.

• Retail merchandise remains part of the guest experience, with improved quality and breadth supporting strong sales per square foot and solid gross margin.

• Cost initiatives included better food auditing and waste reduction, upgraded kitchen equipment, lower operational complexity and LED lighting.

Footprint and brand expansion

• New store openings generated guest excitement, including a Las Vegas location and plans for three Portland-area restaurants.

• Holler & Dash Biscuit House represents a new dining experience and an effort to extend the brand beyond existing stores.