Cracker Barrel's stock slid nearly 10% after its Q4 earnings report on Wednesday had mixed results. While it missed on earnings, the report showed revenue beat expectations, and loyalty sign-ups surged.
The Tennessee-based restaurant chain pivoted back to traditional branding and signage after customers expressed strong opposition to modern logo and store redesigns.
Cracker Barrel Old Country Store (CBRL) came out with quarterly earnings of $0.74 per share, missing the Zacks Consensus Estimate of $0.78 per share. This compares to earnings of $0.98 per share a year ago.
The CEO says the restaurant chain is listening to guests and is optimistic after the logo controversy.
Shares of Cracker Barrel Old Country Store Inc. fell after hours on Wednesday after the Americana-themed restaurant chain forecast falling traffic for the fiscal year ahead and sales that were below Wall Street's expectations, as it deals with blowback over efforts to change its logo and remodel its stores.
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When the restaurant chain reports earnings on Wednesday, investors will get a fresh look at how the company is faring following a failed summer rebrand.
Trump posted an AI-generated video mocking Cracker Barrel's controversial logo rebranding effort that removed the 'old timer' before the company reversed course.
The rebranding episode highlights Trump's ability to use a cultural touchpoint to his advantage.
Here are some of the major companies whose stocks moved on the week's news.
Steak ‘n Shake, which is owned by activist investor Sardar Biglari, has gone after Cracker Barrel on social media in the group's latest run in with the family-dining chain.
Cracker Barrel released a new logo earlier this month and, to put things lightly, it didn't go over well. The restaurant chain lost nearly $100 million in market value as it faced outrage from across the internet.