Cracker Barrel said weak summer travel, fewer older guests and inflation-weary customers crimped sales
Cracker Barrel Old Country Store Inc. said profits fell in the recently ended quarter as growing labor and commodity costs outpaced the restaurant chain’s price increases., the Lebanon, Tenn.-based company saw a rapid rise in costs tied to wages and raw materials this year.
The chain has raised prices to offset some of those higher costs. Still, pricing hasn’t kept pace with costs as the company tries to retain its value-friendly reputation, which the company said helped it retain inflation-battered customers amid higher-than-expected gas prices during the quarter.
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