President Donald Trump said Cracker Barrel "should go back to the old logo" and that the restaurant chain should admit they made a mistake in changing it.
Cracker Barrel Old Country Store on Monday issued a statement responding to the backlash it faced last week over its rebranding and new logo. Users on social media were quick to criticize the new logo, describing it as "generic," "soulless" and "bland.
The Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) has decreased by more than 10% over the last five days, with a closing price near $55 (as of this writing). The decline followed management's choice to swap its long-established “man on a barrel” logo for a minimalist yellow barrel – a decision that triggered backlash on social media as well as among conservative commentators.
The stock fell as much as 15% Thursday before recouping much of those losses.
Markets are on edge ahead of Powell's Jackson Hole speech, with uncertainty over potential September rate cuts and 'higher for longer' rates likely. Tech giants Meta and Google ink a $10 billion, six-year cloud deal to accelerate Meta's AI ambitions while new data centers are built.
Cracker Barrel Old Country Store's (NASDAQ:CBRL) effort to modernise its image prompted a sharp market reaction and political backlash this week. The restaurant chain unveiled a new logo, dropping its long-used image of a man leaning on a barrel for a pared-back yellow silhouette.
‘When people love a brand, they don't always like change,' a branding expert says, after the change sparks more than 558,000 posts on social media including Donald Trump Jr.
Shares of Cracker Barrel tumbled more than 12% on Thursday, the steepest drop since April.
Cracker Barrel Old Country Store (NASDAQ:CBRL) shares fell as markets reacted negatively to the unveiling of a new logo as part of a broader rebranding initiative that removes one of its most recognizable brand elements. The restaurant chain replaced its long-standing emblem, an illustration of a white man in jean overalls resting his arm on a barrel, which had been part of the logo since 1977, with a minimalist, text-only design.
Customer backlash drove Cracker Barrel's worst five-day stock decline since February following a logo redesign and sweeping restaurant changes.
Cracker Barrel Old Country Store Inc. (NASDAQ: CBRL) shares plunged nearly 11% on Thursday, dropping $6.47 to $52.55, after the company unveiled a new logo that has sparked heated backlash online.
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