Cracker Barrel Loses Nearly $100M After Logo Change Sparks Backlash

 

WASHINGTON - Cracker Barrel’s stock tumbled by $94 million this week after the restaurant chain unveiled a new logo that quickly drew heavy criticism from customers, lawmakers and other businesses.

The 55-year-old company’s shares fell 7.2 percent following the rebrand, which removed the sketch of an old man and barrel long associated with the chain, as well as the distinctive “K” flourish in its name.

Chief Marketing Officer Sarah Moore said the change, announced in March, was designed to “revitalize a brand that resonates with loyal guests while welcoming new ones to our table.” The company enlisted PR firms Prophet, Viral Nation and Blue Engine to help with the relaunch, which also included new social media messaging, menu updates and restructuring of 20 restaurants.

Donald Trump Jr. also weighed in on social media, writing, “WTF is wrong with @CrackerBarrel??!”

Despite the backlash, Cracker Barrel has not indicated any plans to reverse course. By Friday morning, however, the company had regained some ground, with shares up 2.55 percent in early trading.

Subscribe to the LIVE! Daily

The LIVE! Daily is the "newspaper to your email" for San Angelo. Each content-packed edition has weather, the popular Top of the Email opinion and rumor mill column, news around the state of Texas, news around west Texas, the latest news stories from San Angelo LIVE!, events, and the most recent obituaries. The bottom of the email contains the most recent rants and comments. The LIVE! daily is emailed 5 days per week. On Sundays, subscribers receive the West Texas Real Estate LIVE! email.

Required

Most Recent Videos

Post a comment to this article here: