TLDR
- Cracker Barrel unveiled new logo and restaurant redesign on August 19 as part of “All the More” campaign
- Stock dropped from $59.02 to $50.76 midday on August 21, partially recovering to $54.80 by close
- New logo removes iconic image of man leaning on barrel, replaced with simple text design
- Board member Gilbert Davila faces criticism over DEI background and 15-year diversity consulting firm
- Conservative activist Robby Starbuck links changes to company’s progressive shift away from traditional values
Cracker Barrel Old Country Store faced a sharp stock decline following customer backlash over its controversial rebranding announcement. The restaurant chain’s shares fell nearly $10 in a single trading day after widespread criticism of its new logo and modernization plans.
The company announced its “All the More” campaign on August 19. The initiative includes updated menu items, redesigned restaurant spaces, and a new brand identity.
Public reaction came swift and harsh. Online criticism focused on the updated logo and plans to modernize restaurant interiors.
The backlash appeared to hit the company’s market performance hard. Cracker Barrel’s stock value dropped from $59.02 at close on August 20 to $50.76 by midday August 21.
The stock partially recovered to $54.80 by the end of that trading session. The drop represented one of the company’s worst single-day performances in recent months.
Stock Performance Context
While the recent decline was sharp, it wasn’t the company’s lowest point this year. Cracker Barrel shares hit a 2024 low of $35.11 in early April.
The stock had been on a steady decline from $64.98 in late January. The company’s highest point of the year came on July 23, reaching $71.86.
The new logo maintains Cracker Barrel’s gold and brown color scheme. However, it drops the iconic image of a man sitting beside a wooden barrel.
The replacement features simpler, modern design elements. The brand name appears in brown text within a golden yellow frame.
Board Member Under Fire
Conservative activist Robby Starbuck has targeted board member Gilbert Davila over his DEI background. Davila joined the restaurant chain’s board in July 2020 and ranks among its top individual shareholders.
Starbuck criticized Davila’s qualifications for the board position. He pointed to Davila’s ownership of DMI Consulting, a diversity and inclusion strategy firm.
Davila has served as president and CEO of DMI Consulting since 2010. The firm describes itself as “a leading multicultural marketing, diversity & inclusion and strategy firm in the United States.”
Before DMI, Davila worked at The Walt Disney Company from 2003 to 2010. He served as vice president of global diversity and multicultural market development.
His earlier career included roles at Sears & Roebuck Company and Coca-Cola USA. He held marketing and multicultural management positions at both companies.
The visual overhaul extends beyond the logo to restaurant renovations. Cracker Barrel plans to modernize select locations for a more contemporary dining experience.
The company ditched its traditional kitschy American aesthetic. New interiors feature a slick modernist design approach.
Starbuck linked these changes to what he calls a shift toward progressive values. He claims the company has moved away from its middle-America customer base.
The company has participated in LGBTQ pride events and implemented diversity policies in hiring. These actions have drawn criticism from some conservative customers.
At the time of publication, Cracker Barrel’s stock closed at $54.40, down $0.40 or 0.73% from the previous session.
