> Cracker Barrel stock loses more than $90 million after logo change
Cracker Barrel stock loses more than $90 million after logo change
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Description
Cracker Barrel Old Country Store is leaning further into its modern rebrand, unveiling a streamlined logo design that strips away decorative elements in favor of a text-only design for the first time since 1977.
The new logo, described by the company as "rooted even more closely to the iconic barrel shape and word mark that started it all," takes a cleaner, more contemporary approach and abandons the ornate script and iconic image of a man, nicknamed "Old Timer," who is seated next to a barrel in previous versions.
The rebrand comes as the restaurant-country store hybrid continues rolling out restaurant remodels nationwide, part of a broader modernization effort the Tennessee-based chain has pursued over the past year. The chain's restaurants were known for their country rustic aesthetic with rocking chairs, pegboard games and walls cluttered with antiques.
Many customers have shared their dismay on social media after seeing the pared-down aesthetic of remodeled restaurants.
"At a remodeled Cracker Barrel. I hate it," a user posted on X along with a video from inside a remodeled location showing much lighter walls with fewer decorations, brighter lighting and updated seating.
"Cracker Barrel? More like CRATE & BARREL," one user wrote.
"I'm sorry, but it looks horrible. It completely destroys the atmosphere that we go to Cracker Barrel for," someone else replied.
The change has also grabbed the attention of other companies like Steak 'n Shake, who famously uses beef tallow for their fries, who says Cracker Barrel should "fire the CEO" over the decision.
"Sometimes, people want to change things just to put their own personality on things. At CB, their goal is to just delete the personality altogether. Hence, the elimination of the 'old-timer' from the signage," the company wrote. "Heritage is what got Cracker Barrel this far, and now the CEO wants to just scrape it all away."
CEO Julie Felss Masino, however, said in an interview on Good Morning America that feedback has been "overwhelmingly positive," especially from restaurant managers who are keen to see their locations remodeled.