Most of you have Cracker Barrel as an out of home customer. Here’s what you need to know about Cracker Barrel and billboards.
- Most of the company’s signs are static and directional. Some also feature dining specials. Cracker Barrel rents 1,300 billboards a year or an average of approximately 2 billboards for each of the company’s 658 stores.
- Cracker Barrel spent $28 million on billboards during fiscal 2024 (fiscal 2025 not yet available). That works out to $1,795/month for each billboard.
- The number of billboards that Cracker Barrel rents has declined from 1,600 in fiscal year 2020 to 1,300 in fiscal year 2024. Billboard rentals declined from $32 million annually to $28 million annually.
- Billboards accounted for 25% of Cracker Barrel’s fiscal 2024 ad budget down from 40% of Cracker Barrel’s budget in fiscal 2020. Here’s what the company’s annual report says: “Outdoor advertising (e.g., billboards and state department of transportation signs) is one of our largest advertising vehicles we use to reach our traveling and local guests.”
Two other things to keep in mind.
- Cracker Barrel stock has struggled (down 56% for the past five years) as store growth has stopped. The stock however, is up in the past year because the company has had four consecutive quarters of same store sales growth.
- Cracker Barrel spent $700 million on a company rebrand but cancelled the rebrand due to customer protests and a $100 million drop in stock value. Here’s a picture of the company’s classic logo on the left and the attempted rebrand logo (right) which managment dropped last week.
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