Cracker Barrel loses almost $100 million in value as stock plunges after new logo release

Tavsif:

Cracker Barrel lost nearly $100 million in market value after unveiling a new logo that drops its longtime image of “Uncle Herschel” leaning on a barrel, sparking backlash from investors, marketing experts, and conservative commentators. Shares fell over 7% on Thursday before recovering slightly, reflecting unease with the rebrand and broader concerns about the chain’s strategy. Critics called the redesign generic and a misstep that risks alienating loyal customers, while the company defended the move as part of efforts to modernize, CBS News has reported. Founded in 1969, Cracker Barrel operates about 660 U.S. locations, but growth has slowed in recent years, with 2024 net income less than half of 2023’s.