Cracker Barrel Old Country Store named former Bloomin' Brands CEO David Deno as its next chief executive, effective Aug. 1, replacing Julie Masino after less than two years at the helm. Deno will also join the company's board of directors.
Masino assumed the CEO role in August 2023, focusing on digital engagement, menu innovation and attracting younger diners. Results were mixed. In its most recent quarter, Cracker Barrel posted net income of $19.3 million, down from $22.4 million a year earlier. Comparable store restaurant sales fell 1.5 percent, a sign that traffic and average check growth remain elusive.
Deno led Bloomin' Brands from 2019 to 2023, overseeing Outback Steakhouse, Carrabba's Italian Grill and Bonefish Grill. His tenure there centered on operational efficiency, digital investment and customer experience. Before that, he spent more than two decades at Yum! Brands, serving as chief financial officer and chief operating officer across KFC, Pizza Hut and Taco Bell—giving him direct experience managing large-scale supply chains and brand portfolios across multiple segments.
Cracker Barrel shares fell in early trading following the announcement.
Deno inherits a company under real pressure. Food and labor costs remain elevated, squeezing margins across the casual dining sector. The chain's core customer base has aged, and efforts to draw younger diners have not moved the needle meaningfully. Analysts expect Deno to prioritize cost control, supply chain discipline and unit economics over broad brand-refresh initiatives—a clear shift in emphasis from Masino's approach.
The board's decision to hire an operator with Deno's background signals where it wants the company to go: tighter execution, improved profitability and disciplined capital allocation. Comparable store sales will be the metric to watch in his first quarters. Investors should expect his initial strategic priorities to come into focus on the company's next quarterly earnings call.
Masino will remain in an advisory role through October 2026 to support the transition.
Cracker Barrel operates 660 restaurants and retail stores across 45 states. Its model pairs a full-service, family-style restaurant with a country-themed retail shop—a dual revenue stream that creates cross-selling opportunity but also adds operational complexity.
