Cracker Barrel loses almost $100 million in value after new logo release
Cracker Barrel saw nearly $100 million wiped from its market value on Thursday following the debut of a new logo that dropped a familiar part of its branding. The redesigned logo removes the image of a man in overalls leaning on a barrel — a longtime symbol of the chain — in favor of a simpler wordmark featuring only the company’s name.
Shares of Cracker Barrel fell $4.22, or 7.2%, to $54.80 in Thursday trading, cutting $94 million from the company’s value. Earlier in the day, shares dipped as low as $50.27, briefly translating to a loss of nearly $200 million. On Friday, the stock initially rebounded but ended the day down another 40 cents, closing at $54.40.
The sharp drop reflects investor unease over Cracker Barrel’s broader rebranding efforts, which include updated menus and store designs aimed at modernizing the 55-year-old chain. The company says it’s trying to move away from its “old-timey” image to better resonate with today’s consumers.
According to Cracker Barrel’s website, the original logo was meant to evoke “the old country store experience where folks would gather around and share stories.” The man in the logo, affectionately known as “Uncle Herschel,” will continue to appear in restaurants and on menus, the company said in a statement to CBS News. “Our values haven’t changed, and the heart and soul of Cracker Barrel haven’t changed,” the statement added.
The new logo, Cracker Barrel explained in an August 18 press release, is more tightly focused on the iconic barrel shape and the brand’s wordmark.
The redesign has drawn criticism from both marketing professionals and conservative commentators. Right-wing podcaster Matt Walsh called the new look “more generic,” while some social media users labeled it “woke.” Marketing strategist Kelly O’Keefe defended the design as a simplification of an overly complex logo but noted that “politically inert marketing moves are being labeled as political for opportunistic reasons.”
Others were more critical. Kevin Dahlstrom, founder of Bolt Health and former CMO at several financial firms, called the rebrand a “fiasco,” arguing the company was abandoning a beloved identity. “When you have a brand that customers care deeply about — as Cracker Barrel did — you never abandon it. You double down on it,” he said.
Cracker Barrel, founded in 1969, operates nearly 660 corporate-owned restaurants across the U.S. Though the company reported modest revenue growth in 2024 — up 0.8% to $3.5 billion — net income fell significantly to $40.9 million, down from $99 million the year before. In its most recent quarter, revenue inched up to $821.1 million from $817.1 million.
Despite the logo controversy, Cracker Barrel stock has risen about 7% in 2025 so far, trading at $55.42 as of Friday morning. However, it remains far below its 2018 high, when shares peaked above $180.
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