Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) breached the short term swing low levels yesterday but recovered quickly to end the day with a gain of 1.54%. The volume of the day at 344,000 was not too dissimilar to the daily average of 383,000. The intraday price action brought the closing price of $139.62 very close to the opening price of $139.18, creating a Turning Top daily candle, indicating indecision on the part of the short term traders and investors. The long term trend will remain up as long as the stock remains above the support line seen on the chart attached.
Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) has announced that it would be changing its conventional marketing strategy of being advertised only on billboards, to being a TV and digitally advertised brand. CBRL has decided to make this change after a span of 40-years. Furthermore, the company has also decided to expand its business towards home and kitchenware. Cracker Barrel has already reached an agreement with Little Big Town, in order to collectively market the product line, under the name of “Oh Gussie”.
Chris Ciavarra, SVP of marketing at CBRL, stated that billboards have always been the primary form of marketing for the company. The company itself is one of oldest brands that provide resting spots for interstate travelers. However, with the increasing number of people using smartphones and the widespread use of the internet, CBRL has finally realized that billboards are not as effective as they used to be. Consequently, the company has decided to invest in all forms of digital marketing and keep potential customers updated on what Cracker Barrel has to offer.
The new Oh Gussie collection is said to be inspired by Kimberly Schlapman of Little Big Town. Cracker Barrel will serve as the distributor for the collection, with the goods being made available at all CBRL stores in the country and online. The launch date is scheduled to be Nov 12. Apart from hosting a number of conventional household and kitchenware items, the collection would also be comprised of vintage-inspired dishes and a special set of “Paw Paw pottery”. The special set is said to be an inspiration from Schlapman’s father and his unique hand-crafted gifts for his family. In total, the collection would have 50-items, ranging from $3.99 to $39.99. As per CBRL, each item has its own story, from the life of Kimberly Schlapman.
Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) finished the October 22 session, with a rise of 1.54% to its share value, despite having a trade volume of zero, to close at a share price of $139.62.