The chain is halting remodeling plans that called for decluttering and removing much of the home-spun decor that adorned its restaurants after receiving pushback from customers. ...

Cracker Barrel Old Country Store (NASDAQ:CBRL) is pulling back on efforts to modernize, suspending its store and restaurant remodels after a rebrand flop and sticking with its trademark “vintage Americana” decor—complete with rocking chairs, fireplaces, and peg games. “You’ve shared ...

Cracker Barrel on Tuesday abruptly suspended its restaurant remodels and promised to keep its cherished “old country store” vibe following a furious backlash that forced the chain to walk back plans for a new logo that cut out its beloved “Uncle Herschel.”The announcement was made a day after The Post reported that Cracker Barrel workers were upset with CEO Julie Felss Masino, claiming she gutted kitchen jobs, slashed hours to avoid offering health insurance, and now passes off frozen, microwaved food as “h ...

Group 1 - President Trump mocked Cracker Barrel's logo rebranding effort on social media, highlighting the company's decision to revert to its original logo after customer feedback [1][8] - The White House previously shared a photo of Trump in a wooden chair associated with the "old timer" logo, using the phrase "Go woke, go broke" to comment on the rebranding controversy [2][5] - Trump suggested that Cracker Barrel could leverage the controversy for publicity, estimating they could gain a billion dollars worth of free publicity if managed correctly [5][6] Group 2 - Cracker Barrel announced its decision to abandon the new logo and retain the "Old Timer" logo, emphasizing its commitment to customer feedback [8][9] - The restaurant chain expressed gratitude to its customers for their input and reaffirmed its dedication to providing quality food and hospitality [9]

Core Insights - Cracker Barrel's leadership received a failing grade from Glass Lewis in their pay-for-performance metric for the fiscal year 2024, indicating a significant disconnect between executive pay and company performance [2][6] - The company is undergoing a transformation project, which includes a controversial rebranding effort that faced backlash from customers and investors [12] Group 1: Performance Metrics - Glass Lewis assigned Cracker Barrel an "F" grade for fiscal year 2024 and "D" grades for fiscal years 2022 and 2023, highlighting a severe disconnect between pay and performance relative to peer firms [2] - The transition to a new CEO, Julie Felss Masino, in August 2023, heavily influenced the pay practices for the year under review [3][6] - The weighted average of three years of average compensation was significantly impacted by the CEO transition and one-off awards from the previous year [6] Group 2: Financial Developments - Cracker Barrel announced plans to invest between $600 to $700 million in capital expenditures through fiscal year 2027, starting pilot testing for remodels at two locations [7] - The company implemented an 80% dividend cut and experienced slower-than-expected traffic in FY2024, leading to a 14.5% decline in stock price on the announcement day [8] Group 3: Rebranding Efforts - The rebranding initiative included a revamp of the classic logo, which was met with significant backlash and led to a stock slide, prompting the company to revert to the original logo shortly after [12] - Following the reversal of the rebranding, Cracker Barrel's stock rallied back to near its August high of $62.55 but has since declined to around $54 [13] - Despite recent volatility, Cracker Barrel's stock is down approximately 1.7% year-to-date but has increased by 35% over the last six months and 39% over the past year [14]

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Company Performance & Strategy - Cracker Barrel has faced controversy from both sides of the political spectrum, but management's initiatives are showing positive results [1][2][3] - Same-store sales and traffic had been declining, but remodels and other changes are reversing this trend [4] - Dinner business has improved for five consecutive quarters, indicating success in attracting younger consumers [5] - Management is refreshing stores and updating furniture to boost results [6] Pricing & Cost Management - Cracker Barrel has some exposure to tariffs due to its retail store, with approximately 20% of retail items sourced from China; efforts are underway to diversify sourcing [7] - Cracker Barrel's pricing is significantly lower (30-40% cheaper) than casual dining competitors, allowing for strategic pricing initiatives [8] - The company is strategically raising prices by 5% at locations that can support it based on demographics [9]

Core Viewpoint - Cracker Barrel's shares increased by 7% after the company decided to revert its controversial logo redesign, but customer dissatisfaction remains directed at CEO Julie Felss Masino, with calls for her resignation continuing [1][2][5]. Company Response - Cracker Barrel announced the discontinuation of the new logo, stating, "We said we would listen, and we have. Our new logo is going away and our 'old timer' will remain" [3]. - The company expressed gratitude to customers for their feedback, acknowledging the importance of their voices [2]. Customer Sentiment - Customers have expressed strong discontent, with nearly 60,000 users on X supporting a post demanding the CEO's firing [6]. - Social media backlash included posts criticizing the new logo as a departure from the beloved American aesthetic, with calls for Masino to resign [2][6]. Market Impact - The logo change led to a significant loss in market value, with Cracker Barrel shedding $100 million last week due to customer backlash [3]. Investor Reaction - Sardar Biglari, a prominent investor, warned the company about the potential backlash from the rebranding, which was dismissed by Masino and her board [6]. - Biglari publicly mocked Cracker Barrel's decision, indicating a lack of confidence in the company's leadership [7]. Leadership Perspective - CEO Masino previously stated that the company needed to modernize to remain relevant, acknowledging that Cracker Barrel was "just not as relevant" as it used to be [10].

Stock Performance - Cracker Barrel Old Country Store shares jumped in premarket trading [1] Company Actions - The restaurant chain reversed a controversial change in its logo [1]

Core Viewpoint - Cracker Barrel Old Country Store decided to revert to its original logo following significant backlash from customers and public figures, including President Donald Trump, leading to a 3% increase in its stock price [1][2][3]. Group 1: Company Response - The company announced it would listen to customer feedback and discontinue the new logo, stating, "Our new logo is going away and our 'Old Timer' will remain" [2]. - Following the announcement, Cracker Barrel shares experienced a notable increase, recovering close to the original losses incurred when the new logo was first introduced [2]. Group 2: Impact of Public Figures - President Trump publicly criticized the rebranding, urging the company to revert to the old logo based on customer response, which he described as the "ultimate Poll" [3]. - After Trump's comments, Cracker Barrel shares rose over 6% at the close of trading on Tuesday [3]. - Trump later congratulated the company for its decision to revert to the original logo, expressing appreciation from fans and wishing the company success [4].