Cracker Barrel announces new logo for mixing reactions
Known for its nostalgic charm, national restaurants and country stores have recently launched a simplified design that drops the image of a man sitting beside a wooden barrel. Some are not satisfied.
No Brands – News Value
Cracker Barrel is facing extensive rebound after rolling out its new logo and plans to update the restaurant with a more modern style.
On August 19th, the chain restaurant announced changes to its logo and menu as part of a campaign entitled “All the More.” According to a news release, the rebranding features new liter menu items, a “refresh” restaurant remodel and a “enhanced brand look and feel.”
Despite being excited about the chain’s announcement, many were disappointed and furious at the change. In fact, customers were so upset that the chain had a stock price drop of nearly $10 in one day.
Here’s what you need to know about the company’s current financial situation:
How much has the cracker barrel stock been removed?
The announcement of the cracker barrel on August 19th did not attract public attention until late August 20th. This is reflected in the company’s stock price.
When the market closed on August 20th, the stock was valued at $59.02. However, they had a sharp turn at noon on August 21st, with the stock price falling to $50.76 by noon. By the end of trading day, the price had recovered slightly to $54.80 per share.
This may seem like a major blow to the company, but this year it is not the organization’s lowest stake. The company reached a high in late January when the stock was valued at $64.98, but in early April it quickly began dropping a year of $35.11.
The peak value of the stock this year was on July 23rd, just four weeks ago, but the stock price was $71.86.
What will the new cracker barrel logo look like?
While featuring the company’s classic gold and brown palette, the new cracker barrel logo offers a simplified version that doesn’t portray the man sitting next to a wooden barrel.
The new logo includes the restaurant’s name with brown lettering against the golden yellow border.
The rebranding will be coming to the restaurant to offer a more modern facelift as cracker barrels continue to undergo renovations in several locations around the country.
Contributors: Stephen J. Beard, Melina Kahn, USA Today
