Cracker Barrel Old Country Store (CBRL) AGM 2017 presentation summary

Strategic priorities

• Enhance the core, expand the footprint and extend the brand remain the roadmap for shareholder returns, centered on hospitality, employee experience and improved guest experience, sales and traffic.

• FY18–FY20 priorities include 30+ new-unit openings, a $40M savings target, POS-enabled speed, ecommerce, Holler & Dash and new concepts or acquisitions.

Core business initiatives

• Seasonal limited-time entrees aimed to add menu variety for frequent guests and light users; a fully integrated campaign supported the summer Campfire Meals promotion.

• Holiday Heat n’ Serve meals launched in FY17, with Christmas and Easter identified as growth opportunities for off-premise sales.

• Retail remained integral to the guest experience, supported by improved merchandise quality and breadth; targeted cost reductions delivered margin improvements, with savings realized earlier than anticipated on several initiatives.

Expansion and brand development

• Six new stores opened in FY17, including the first location in Oregon; management said new units performed well.

• Guest excitement around openings included Tualatin, Oregon, the first West Coast location, and North Las Vegas, Nevada.

• Holler & Dash received positive consumer response and recognition, including a 2017 Breakout Brand distinction and multiple local food and restaurant accolades.