Cracker Barrel down 12% at $51.90 after rebranding with new logo

Shares of Cracker Barrel (CBRL) are down 12% or $7.17 at $51.85 after the company unveiled a new logo that no longer contains a barrel. Earlier this week, Cracker Barrel stated in a press release: “Cracker Barrel has launched a new fall menu creative campaign that celebrates more than 55 years of country hospitality and positions the iconic American brand for the future. The campaign spotlights “All the More” that today’s guests – both current and soon-to-be – can discover and love at Cracker Barrel, including crave-worthy new and returning menu items, refreshed restaurant remodels, an enhanced brand look and feel, a limited-time offer and, of course, music from celebrated country music artist Jordan Davis himself, who helps bring it all to life – and to the table for breakfast, lunch, and dinner. Since 1969, Cracker Barrel has delivered heartfelt service, homestyle food and an unmatched dining experience. With nearly 660 locations nationwide, the brand remains a go-to for guests seeking community, comfort and special moments they can carry with them long after they leave. Its more popular menu offerings like farm fresh scrambled eggs and buttermilk biscuits even serve as inspiration behind the hues of a refreshed color palette featured in the new campaign. Anchored in Cracker Barrel’s signature gold and brown tones, the updated visuals will appear across menus and marketing collateral, including the fifth evolution of the brand’s logo, which is now rooted even more closely to the iconic barrel shape and word mark that started it all.”