‘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.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Cracker Barrel (CBRL) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Here is how Cracker Barrel Old Country Store (CBRL) and Sprouts Farmers (SFM) have performed compared to their sector so far this year.
Restaurant sales hit $98.7B in June as consumer spending stays strong, boosting YUMC, EAT and CBRL outlooks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Hot take bearishness can make a mess for shareholders. Many issues need human time (not machine time) for proper analysis. I wrote about this recently for a biotech.
Does Cracker Barrel Old Country Store (CBRL) have what it takes to be a top stock pick for momentum investors? Let's find out.