Cracker Barrel dumps consulting firm Prophet after major rebrand backlash from customers

Core Insights - Cracker Barrel is terminating its partnership with Prophet, the consulting firm responsible for its unsuccessful rebranding efforts [1] - The rebranding faced significant backlash from customers who felt it compromised the brand's identity, particularly after the removal of its iconic logo [1][8] - The controversy led to a substantial decline in market value, with over $140 million lost during the backlash [8] Rebranding Efforts - Prophet was initially hired to redesign Cracker Barrel's restaurants and lead a new marketing campaign aimed at enhancing market share while maintaining the brand's heritage [4] - The rebranding included a new logo and a shift in restaurant decor, which critics described as lacking character and warmth [1][4] Customer Reaction - The introduction of the new logo, which eliminated the image of "Uncle Herschel," sparked outrage among loyal customers, leading to calls for the company to revert to its original branding [7][11] - High-profile figures, including former President Donald Trump, publicly criticized the changes and urged the company to return to its roots [11][12] Financial Impact - The backlash from the rebranding efforts resulted in a significant drop in the company's stock price, with shares down over 7% year-to-date [8] - The market value loss of over $140 million highlights the financial repercussions of the rebranding misstep [8] Company Response - Following the intense criticism, Cracker Barrel announced it would revert to its old logo and restore previous signage, acknowledging customer feedback [12] - The company expressed gratitude to its customers for their input and commitment to listening to their concerns [12]