Cracker Barrel Sees Lower-Income Customers Under Pressure

1214 ET - Cracker Barrel says its lower-income customers continue to pull back on eating out while higher-income guests are holding up, echoing a trend seen throughout much of the economy. "I think a lot of folks have reported that, and that's the relationship that we see," finance chief Craig Pommells says during a call with analysts. Pommells says the company's value equation should help it maneuver that environment. Cracker Barrel's average check is around $16, compared to $27 in the casual dining industry as a whole, he says. Other offerings, like a daily pancake special for $7.99 and its loyalty program, should also position the company well, he says. "If you're feeling pressured from a discretionary income perspective, there are a lot of ways you can still have a great experience at Cracker Barrel," he says.