Cracker Barrel Stock Plummets Amid Branding Backlash
Cracker Barrel Old Country Store's attempt to modernize its brand backfired spectacularly, triggering a conservative backlash and a sharp selloff in its shares. The 54-year-old chain unveiled a minimalist logo redesign—replacing its iconic overall-clad man with a barrel-shaped silhouette—only to face criticism from figures like Donald TRUMP Jr. and social media commentators.
The stock plunged as much as 13% intraday before paring losses to close 7% lower at $54.80. Trading volume surged to nearly four million shares, quadruple the daily average. "Brand refreshes always carry risk," said IBKR strategist Steven Sosnick, noting the company's post-pandemic struggles to regain customers. "But in today's polarized climate, even nostalgia becomes a battleground."
