Latest news with #Tennessee-based
New York Post
2 days ago
- Business
- New York Post
Cracker Barrel fans ‘heartbroken' as chain scraps signature old-timey decor
Devoted Cracker Barrel customers are 'heartbroken' over the Southern chain ditching its country charm for a more sterile modern makeover in its bid to remain relevant. The Tennessee-based company, known as much for its tchochkes as its Southern fixins' like chicken fried steak and grits, has tossed the kitsch that drew generations of diners in favor of booths and crisp white walls. 'It has always felt like being in someone's home,' said longtime diner Sharon Triana, who grew up visiting Cracker Barrel Old Country Store with her parents and now dines there twice a month with her partner and 10-year-old twins. 4 Cracker Barrel fans posted TikTok videos mourning the loss of the chain's old-timey decor. @countscapula/TikTok 'But opening the walls, lighter colors and atmosphere, it feels like something colder,' Triana told the Wall Street Journal. Cracker Barrel – which faced blowback in the past when it swapped out some wooden rocking chairs with rainbow ones to celebrate Pride – announced plans to remodel restaurants last summer after CEO Julie Felss Masino admitted the chain is 'just not as relevant' as it used to be. About 40 of the chain's roughly 660 locations have completed some kind of remodeling as of early May, according to the Journal. Cracker Barrel did not immediately respond to The Post's request for comment. Rachel Love, who shared her grief over the changes in a series of TikTok videos that went viral, tried to convince herself that her nearest Cracker Barrel was receiving just a light spruce up when she noticed white paint covering the exterior. 'I thought, well maybe it's primer,' Love told the Journal. 4 Cracker Barrel faced backlash two years ago when it placed some rainbow rockers on porches to celebrate Pride. Cracker Barrel/Instagram But when she visited the restaurant on Easter Sunday, she realized the white paint was permanent, and saw fewer antiques hanging on the walls and new Adirondacks replacing rocking chairs that had long sat on the porch. 'It was just heartbreak,' Love said. 'My 14-year-old son was devastated.' Felss Masino, who took over the chain in July 2023, argued that the negative reactions are examples of the nostalgia diners have for Cracker Barrel. 'It's because people have an emotional connection with the brand,' she said during the Journal's Global Food Forum earlier this month. 'People's immediate reaction to things is like, 'Oh this isn't the way it was,'' but they tend to come around, she added. Fans who will miss the old-timey feel of the chain are trying to get their hands on its iconic decor. 4 Cracker Barrel restaurants with the old-timey look had lots of decor covering the walls, darker interior lighting and wooden tables and chairs. Universal Images Group via Getty Images Many have hypothesized that the knick-knacks are being sent to a warehouse at Cracker Barrel's headquarters in Lebanon, Tenn. Cracker Barrel said much of the decor is being reused, and the rest is being sold to a third party. There are some, however, who are excited about the renovations, like D.T., an employee at a Cracker Barrel in North Carolina who asked to go by her initials to protect her job. 'I honestly was blown away' by the new look, she told the Journal. 4 Many devoted Cracker Barrel fans are trying to get their hands on the chain's old-timey decor. Christopher Sadowski The upgraded lighting makes it easier for customers to read the menu, simpler decor makes for easier cleaning and the new floor plan creates a better flow between the restaurant and retail store portions of Cracker Barrel locations, D.T. said. 'Any restaurant that likes to base itself on a specific time period, it's going to have to go through that sort of identity crisis,' D.T. told the Journal. 'But I think it might be overblown. It's not like Cracker Barrel is trying to roll in with TVs.' Julie Bidtah, a Colorado resident who often makes pit stops at Cracker Barrel restaurants during road trips, said she likes the new look, as the restaurants previously had a 'cluttered,' 'dark' and 'dusty' look. But she admitted the chain shouldn't go too far with the renovation process. 'Your name is Cracker Barrel, so you're kind of stuck with the whole nostalgia thing,' she told the Journal.
Yahoo
7 days ago
- Automotive
- Yahoo
Is LKQ Corporation Stock Underperforming the S&P 500?
With a market cap of $9.7 billion, LKQ Corporation (LKQ) is a leading global distributor of vehicle replacement parts, components, and systems used in the repair and maintenance of automobiles and specialty vehicles. It operates through four segments: Wholesale-North America; Europe; Specialty; and Self Service, serving professional repair shops, dealerships, and retail customers. Companies valued at $10 billion or more are generally classified as 'large-cap' stocks, and LKQ fits this criterion perfectly. LKQ offers a wide range of products, including recycled and aftermarket parts, remanufactured engines, and specialty accessories, across North America and Europe. Super Micro Computer Just Struck a Deal with Ericsson. Should You Buy SMCI Stock Here? CEO Jensen Huang Just Sold Nvidia Stock. Should You? Broadcom Just Got a New Street-High Price Target. Should You Buy AVGO Stock Here? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Shares of the Antioch, Tennessee-based company have pulled back 19.3% from its 52-week high of $46.64. LKQ's shares have fallen nearly 8% over the past three months, underperforming the broader S&P 500 Index's ($SPX) 5.6% gain over the same time frame. In the longer term, LKQ stock is up 2.5% on a YTD basis, lagging behind SPX's 3.6% rise. Moreover, shares of the auto parts distributor have decreased 10.3% over the past 52 weeks, compared to the 11.8% return of the SPX over the same time frame. The stock has been trading below its 50-day moving average since late May. Shares of LKQ tumbled 11.6% on Apr. 24 primarily due to disappointing Q1 2025 results. The company reported revenue of $3.5 billion, a 6.5% year-over-year decline and below analysts' expectations, while adjusted EPS came in at $0.79, flat year-over-year and in line with estimates. Elevated insurance premiums and rising repair costs have reduced repairable insurance claims, weakening demand for LKQ's spare parts, while its specialty vehicle segment also struggled due to declining consumer discretionary spending. In comparison, rival AutoZone, Inc. (AZO) has outpaced LKQ stock. AZO stock has gained 11.7% on a YTD basis and 19.8% over the past 52 weeks. Despite the stock's underperformance, analysts remain bullish on LKQ. The stock has a consensus rating of 'Strong Buy' from the seven analysts covering the stock, and as of writing, it is trading below the mean price target of $53. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
24-06-2025
- Business
- Yahoo
FedEx retires a dozen freighter aircraft in efficiency move
FedEx Corp. said Tuesday that it permanently retired 12 aircraft and took a $21 million impairment charge during the fourth quarter as part of an effort to streamline the air network in line with demand and modernize the fleet. The Memphis, Tennessee-based express logistics giant said it removed seven Airbus A300-600 aircraft, three large MD-11 tri-engine freighters and two Boeing 757-200 (large narrowbody) freighter aircraft from the fleet. It also got rid of eight engines. During the fourth quarter in 2024, FedEx decommissioned 22 Boeing 757 cargo jets. FedEx (NYSE: FDX) said in its previous earnings report on March 20 that it had exercised options to buy eight Boeing 777 freighters and pushed back retirement of the MD-11 fleet from 2028 until 2032 because of strong international parcel demand. It also announced plans to acquire 10 additional ATR 72-600 turboprop freighter aircraft, with deliveries scheduled for the tail end of the decade. The aircraft retirements reduce FedEx's fleet to 698 aircraft, comprising 382 mainline jets and 316 feeder planes operated by partner airlines. FedEx's fleet size has ranged from 670 to 710 aircraft since 2018. FedEx still has 90 757s, 34 MD-11s and 58 A300-600s in service. FedEx is flying less in the United States after its contract with the U.S. Postal Service expired in September, its strategy to pursue premium international air cargo that is traditionally consolidated and booked on airlines by freight forwarders has increased the need for widebody freighters. FedEx reported revenues for the quarter ended May 31 inched up less than 1% to $22.2 billion and that operating margin increased 8% due to structural cost reductions in its multi-year Drive initiative and higher volumes at FedEx Express. Click here for more FreightWaves/American Shipper stories by Eric Kulisch. FedEx says economic uncertainty slowing parcel and freight demand FedEx taps leaders from within for LTL spinoff, to Wall Street's dismay FedEx converts parcel freighter to heavy cargo operation The post FedEx retires a dozen freighter aircraft in efficiency move appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
FedEx: Fiscal Q4 Earnings Snapshot
MEMPHIS, Tenn. (AP) — MEMPHIS, Tenn. (AP) — FedEx Corp. (FDX) on Tuesday reported fiscal fourth-quarter profit of $1.65 billion. The Memphis, Tennessee-based company said it had profit of $6.88 per share. Earnings, adjusted for non-recurring gains, were $6.07 per share. The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.93 per share. The package delivery company posted revenue of $22.22 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $21.73 billion. For the year, the company reported profit of $4.09 billion, or $16.81 per share. Revenue was reported as $87.93 billion. For the current quarter ending in August, FedEx expects its per-share earnings to range from $3.40 to $4. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on FDX at
Toronto Sun
24-06-2025
- Business
- Toronto Sun
FedEx founder Fred Smith, who revolutionized package delivery, dies at 80
Memphis-based FedEx averages 17 million shipments per business day Published Jun 24, 2025 • 3 minute read FedEx Corp. founder Fred Smith takes part in a discussion at the National Conference of State Legislatures in Nashville, Tenn. on Tuesday, Aug. 15, 2006. Photo by Mark Humphrey / AP MEMPHIS, Tenn. — Fred Smith, the FedEx Corp. founder who revolutionized the express delivery industry, has died, the company said. He was 80. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account FedEx started operating in 1973, delivering small parcels and documents more quickly than the postal service. Over the next half-century, Smith, a Marine Corps veteran, oversaw the growth of a company that became something of an economic bellwether because so many other companies rely on it. Memphis, Tennessee-based FedEx became a global transportation and logistics company that averages 17 million shipments per business day. Smith stepped down as CEO in 2022 but remained executive chairman. Smith, a 1966 graduate of Yale University, used a business theory he came up with in college to create a delivery system based on coordinated air cargo flights centered on a main hub, a 'hub and spokes' system, as it became known. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. The company also played a major role in the shift by American business and industry to a greater use of time-sensitive deliveries and less dependence on large inventories and warehouses. Smith once told The Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important when in fact it was a start-up operation with a future far from assured. At the time, Smith was trying to land a major shipping contract with the Federal Reserve Bank that didn't work out. In the beginning, Federal Express had 14 small aircraft operating out of the Memphis International Airport flying packages to 25 U.S. cities. Smith's father, also named Frederick, built a small fortune in Memphis with a regional bus line and other business ventures. Following college, Smith joined the U.S. Marines and was commissioned a second lieutenant. He left the military as a captain in 1969 after two tours in Vietnam where he was decorated for bravery and wounds received in combat. This advertisement has not loaded yet, but your article continues below. He told The Associated Press in a 2023 interview that everything he did running FedEx came from his experience in the Marines, not what he learned at Yale. Getting Federal Express started was no easy task. Overnight shipments were new to American business and the company had to have a fleet of planes and a system of interconnecting air routes in place from the get-go. Former President George W. Bush released a statement in which he praised Smith as 'one of the finest Americans of our generation' and FedEx as an 'innovative company that helped supercharge our economy.' Smith was a minority owner of the Washington Commanders NFL team until 2021, when owner Daniel Snyder and his family bought out the shares held by Smith, Dwight Schar and Bob Rothman. His son Arthur was a head coach with the Atlanta Falcons for three seasons and is currently the offensive coordinator for the Pittsburgh Steelers. This advertisement has not loaded yet, but your article continues below. Though one of Memphis' best-known and most prominent citizens, Smith generally avoided the public spotlight, devoting his energies to work and family. Despite his low profile, Smith made a cameo appearance in the 2000 movie 'Castaway' starring Tom Hanks. The movie was about a FedEx employee stranded on an island. 'Memphis has lost its most important citizen, Fred Smith,' said U.S. Rep. Steve Cohen of Tennessee, citing Smith's support for everything from the University of Memphis to the city's zoo. 'FedEx is the engine of our economy, and Fred Smith was its visionary founder. But more than that, he was a dedicated citizen who cared deeply about our city.' Smith rarely publicized the donations he and his family made, but he agreed to speak with AP in 2023 about a gift to the Marine Corps Scholarship Foundation to endow a new scholarship fund for the children of Navy service members pursuing studies in STEM. This advertisement has not loaded yet, but your article continues below. 'The thing that's interested me are the institutions and the causes not the naming or the recognition,' Smith said at the time. Asked what it means to contribute to the public good, he replied: 'America is the most generous country in the world. It's amazing the charitable contributions that Americans make every year. Everything from the smallest things to these massive health care initiatives and the Gates Foundation and everything in between,' he said. 'I think if you've done well in this country, it's pretty churlish for you not to at least be willing to give a pretty good portion of that back to the public interest. And all this is in the great tradition of American philanthropy.' NHL Toronto & GTA Sunshine Girls Sunshine Girls World
