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Cracker Barrel Old Country Store (CBRL), based in Lebanon, TN, has seen a significant backlash following its August 2023 rebranding attempt, which included removing its iconic “Uncle Herschel” logo. This move resulted in a 7% drop in stock value, equating to a $140 million loss in market capitalization.
Despite reversing the rebranding efforts amidst customer dissatisfaction, Cracker Barrel’s stock has continued to perform poorly, reflecting ongoing erosion of trust among its customer base. Investors and analysts are concerned as the company is currently undergoing a multi-year turnaround with anticipated stagnant earnings growth.
Cracker Barrel operates 660 locations across 43 states, but it faces stiff competition from fast-casual dining rivals such as Darden Restaurants and Texas Roadhouse, further complicating its recovery efforts.
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