After the release of a new logo on Thursday, after its stock, the cracker barrel shed around $ 100 million in the market price. The new design ends a long drawing of a composite man, bending against a barrel, characterizing only the name of the series in favor of a cleaner logo.
Cracker barrel shares fell $ 4.22, or 7.2%, fell to $ 54.80 in Thursday’s trading, shedding $ 94 million in the market price. Stock had taken a dip at a low of $ 50.27 in the first day, representing a loss of about $ 200 billion in its capitalization.
Logo comes as a reaction of Wall Street to Redijine because the cracker barrel is working to refresh its image through the new menu items and Rebuilt store It survived the old -time approach to the 55 -year -old series in favor of a more modern form.
Cracker barrel 
According to the company WebsiteIn the old people, man and barrel “represented the experience of the old country’s shop, where people will gather and share stories.”
Cracker barrel 
It is uncommon for the company’s share price that the logo can be dramatically dumped due to the redisine, although marketing misses can question the company’s strategy to investors. Cracker barrel overhaul is overseen by CEO Julie Fails Macino, which last year Described the series As “was not as relevant as we were once,” and announced a plan to update its down-home menu.
In a statement by CBS News, the cracker barrel stated that the person was depicted in the people, known as “Uncle Herschel”, which will be “front and center in front and centers in our restaurant and in our menu.”
“Our values ​​have not changed, and the cracker barrel’s heart and soul have not changed,” the company said.
The new logo, which will appear on the menu and marketing materials, is now even closer to the iconic barrel shape and Wordmark, which started all this, “the company said in August 18. Press release,
Orthodox commentators took the issue with Rebrand, with right -wing podcaster Matt Walsh Calling This is “more common” on social media. Marketing experts also criticized the company’s overhaul. Bolt Health founder Kevin Dahlstrom, who has worked as a chief marketing officer in several companies in the financial industry, described the Crack Barrel Rebrands as “Fiasco”.
“The sacred grave of marketing is to create a brand that customers give a shame about – and some ownership. It is highly rare and when you have – as the cracker barrel did – you never left it, you only doubled it,” Dahlstom wrote on social media.
