Cracker Barrel's attempt to rebrand with a new logo isn't going as well as the company had hoped.
The company is in the middle of a $700 million identity renovation to include new TV commercials, a redesigned menu and of course, a totally new logo. The reveal was quickly hit with complaints, with some fans of the chain calling it "soulless."
However, the company has also been hit financially— with shares of CBRL falling as much as 15% in trading Thursday. That's a reported $200 million drop.
In revealing the new logo on August 19, Chief Marketing Officer Sarah Moore stated, “We believe in the goodness of country hospitality, a spirit that has always defined us. Our story hasn't changed. Our values haven't changed... with ‘All the More,’ we're honoring our legacy while bringing fresh energy, thoughtful craftsmanship and heartfelt hospitality to our guests"
According to Cracker Barrel's website, the previous logo, "tells a story with every detail." It goes on to describe the logo by saying, "there’s an image of a man relaxing by a cracker barrel, representing the old country store experience where folks would gather around and share stories. Our logo reflects our roots and the warm, welcoming atmosphere we’ve always aimed to create."
The chain completely abandoned the image of the man sitting next to the cracker barrel in the new design.
Fans of the restaurant were sure to sound-off and voice their displeasure in the comments on the company's Instagram page. One wrote, "I have NO IDEA why companies feel the need to change their logo when the one they have had for decades works so well… at least leave the barrel in the logo!!"
Another chimed in by saying, "A message from Gen Z: Absolutely no one was offended by the old logo. America wants one of its favorite logos back."
It remains to be seen whether the company will go back with the old or move forward with the new despite all the controversy.