Summary
Cracker Barrel saw a drop in store visits after changing its logo in August. The negative reaction led to a decline in business, prompting the company to switch back to its original logo. The rebranding attempt caused a significant drop in the company's stock price and customer visits.
Key Facts
- Cracker Barrel changed its logo in August, which many disliked.
- Store visits dropped 5.3% the week following the change.
- Visits continued to decline, down about 10% for the first three weeks of September.
- Cracker Barrel's stock price fell over 20% since the logo change.
- By late September, traffic was down 7.2% from the previous year.
- The company anticipates a 7% drop in visits for the first fiscal quarter.
- Cracker Barrel quickly reverted to its original logo after the backlash.
- It cut ties with the design firm behind the rebrand and closed 14 subsidiary restaurant locations.
