Cracker Barrel revealed its new logo on Tuesday, and the company’s stock dropped dramatically following consumer upset regarding the decision.
On Thursday alone, shares of Cracker Barrel stock dropped more than 12 percent after the announcement. The new logo, which Cracker Barrel said “is now rooted even more closely to the iconic barrel shape and word mark that started it all,” is sans the iconic man and barrel design that customers have come to know since 1977.
“Its more popular menu offerings like farm fresh scrambled eggs and buttermilk biscuits even serve as inspiration behind the hues of a refreshed color palette featured in the new campaign,” the Cracker Barrel press release reads. “Anchored in Cracker Barrel’s signature gold and brown tones, the updated visuals will appear across menus and marketing collateral, including the fifth evolution of the brand’s logo, which is now rooted even more closely to the iconic barrel shape and word mark that started it all.”
The logo, however, has boasted the same iconic image for 48 years and had a text-only design in the earliest days of the company.
Cracker Barrel has been operating since 1969, and has 660 locations nationwide. The rebrand comes with a $700 million dollar price tag, including new commercials, restaurant redesigns, and updated menu offerings.
The restaurant renovations began in May. Cracker Barrel CEO Julie Felss Masino told CBS News customers can expect “a different color palette, updating lighting, offering more comfortable seating, and simplifying decor and fixtures.”
Both the renovations and the logo redesign have upset customers.
“The chain’s interiors were well known for dark woods and the walls being covered in near-antique signs and tchotchkes, designed to emulate a combination of your grandmother’s kitchen and the back of your grandfather’s garage,” National Review‘s Jim Geraghty wrote. “People are resistant to change in general, but it is understandable that they’re particularly resistant to change in a restaurant chain whose appeal has always included an element of nostalgia.”
Masino, however, has a different point of view.
“The goal, simply put, was to freshen things in such a way as to be noticeable and attractive but still feel like Cracker Barrel,” she said.
The changes come after Masino was hired on as CEO in July 2023.
Cracker Barrel also recently announced its “All the More” campaign with country music singer Jordan Davis, a part of the company’s larger rebrand.
“We believe in the goodness of country hospitality, a spirit that has always defined us. Our story hasn’t changed. Our values haven’t changed,” Sarah Moore, chief marketing officer of Cracker Barrel said. “With ‘All the More,’ we’re honoring our legacy while bringing fresh energy, thoughtful craftsmanship and heartfelt hospitality to our guests this fall.”