In a bid to boost its portfolio of soda offerings, Cracker Barrel Old Country Store, Inc.
(CBRL - Free Report
) teams up with the leading craft soda industry company, Jones Soda (JSDA), for the launch of Black Cherry WARHEAD Jones Soda. This exclusive product is available at all Cracker Barrel Stores across the United States.
Drew Germain, director of Merchandise Buying for Cracker Barrel stated, “Cracker Barrel has always provided our guest with unique craft soda offerings and we are thrilled to add Jones Soda to our retail shop and be the first to offer this pairing to our guests.”
Menu Innovations to Drive Growth
Cracker Barrel is continuously focusing on rejuvenating its menu, which serves as the backbone of the company’s riveting growth potential. The company believes that the platform will complement the strength of its breakfast all-day offering, drive check favorability and promote guest perceptions of menu variety.
The company’s current menu promotion centered around Cracker Barrel homestyle favorites, such as chicken and dumplings, country fried steak and Grandma's Sampler. Moreover, the company plans to fortify the dinner daypart by introducing signature craveable items. This initiative is likely to simplify the menu to increase consistency and execution as well as providing a more optimized menu.
Shares of Cracker Barrel have declined 38.8% in the past three months compared with the industry
's fall of 24.6%. Notably, the company has been negatively impacted by the coronavirus outbreak, which has taken the shape of a global pandemic. Also, the Retail - Restaurants industry is grappling with the situation. Due to this prevalent uncertainty, earnings estimates for 2020 have been revised more than 10% downward in the past 30 days, indicating analysts’ concerns for the stock growth potential.
Zacks Rank & Other Key Picks
Other top-ranked stocks in the same space include Texas Roadhouse, Inc. (TXRH - Free Report
) , Brinker International, Inc. (EAT - Free Report
) and Chipotle Mexican Grill, Inc. (CMG - Free Report
) , each carrying a Zacks Rank #2 (Buy).
Texas Roadhouse has a trailing four-quarter positive earnings surprise of 4.3%, on average. The company’s earnings beat estimates in three of the trailing four quarters.
2020 earnings for Brinker International is expected to rise 6.6%.
Chipotle Mexican Grill has an expected three-five year earnings per share growth rate of 19.3%.
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