Benzinga·2025-10-06 10:16Core Viewpoint - The co-founder of Cracker Barrel, Tommy Lowe, has publicly criticized CEO Julie Felss Masino for being disconnected from the brand's core values and loyal customer base, particularly regarding her $700 million rebranding plan [1][2][3]. Leadership Concerns - Tommy Lowe, at 93 years old, expressed concerns about Masino's leadership since she took over as CEO in 2023, claiming her changes do not align with the restaurant's Southern country theme [2]. - Lowe emphasized that Masino's background at Taco Bell does not equip her with the necessary understanding of Cracker Barrel's operations and customer preferences [2]. Rebranding Criticism - Lowe labeled the $700 million rebranding effort as a "waste of money" and criticized the board of directors for not intervening in the company's direction [3]. - He praised the decision to revert to the original logo featuring the "Old Timer" leaning on a barrel, indicating a preference for traditional branding [3]. Financial Performance - Cracker Barrel is facing strategic uncertainty and operational challenges, with a reported expected fourth-quarter revenue of $855.3 million, down from $894.4 million in the previous year [5]. - CEO Masino announced the suspension of the $600–$700 million capital plan and a return to original store designs, indicating a shift in strategy [5]. Market Outlook - Analysts initially viewed the backlash against the rebranding as temporary, but Lowe's public criticism raises questions about the company's ability to navigate these challenges and regain market stability [6].