Cracker Barrel Old Country Store this week introduced a text-only logo in the first major change to its branding since 1977, eliminating the familiar image of an overall-clad man resting on a barrel. The redesign is part of the “All the More” campaign, which also aims to remodel restaurants, update menus and refresh retail spaces across the chain’s roughly 660 U.S. locations. The new look drew sharp criticism on social media from high-profile conservatives, including Donald Trump Jr., as well as broader complaints that the design is bland. Rival Steak ’n Shake publicly derided the move. Cracker Barrel said its research shows 87 percent of respondents favour the update and described the negative reaction as coming from a “vocal minority,” adding that the character known as Uncle Herschel remains prominent in stores and on menus. Investor reaction was swift. On 21 August shares of Cracker Barrel (ticker CBRL) slid as much as 13 percent to $50.27 before trimming losses to close at $54.80, still off 7 percent on the day and wiping out about $100 million in market value. Nearly four million shares changed hands—roughly quadruple typical volume—highlighting the growing influence of social-media sentiment on trading. Chief Executive Officer Julie Felss Masino, who joined the company last year, is banking on the three-year, $600-to-$700 million overhaul to re-energise the 55-year-old brand and lure younger diners after traffic declines during and after the pandemic. In June, the Lebanon, Tennessee-based chain reported a 0.5 percent rise in fiscal third-quarter revenue and 1 percent growth in comparable-store sales, but acknowledged that the company “is not as relevant as it once was.” Further details on the remodeling programme are expected at a September investor update.
From gas stations to a controversial logo change: The history of Cracker Barrel in photos https://t.co/kfHnprc82z
Cracker Barrel experienced an almost $10 decrease in stock in one day after announcing it would be updating its restaurant and logo. https://t.co/4BXVjedwjy
“I think this was about rejecting what they see as sort of a redneck old image.” @robbystarbuck torched the Cracker Barrel rebrand as a rejection of its roots, calling the new logo and modern décor an insult to the Americans who fueled the company’s success. https://t.co/6LClBtvoJD