What's next for Cracker Barrel's CEO after new logo redesign backlash?

It's been quite the week for restaurant chain Cracker Barrel (NASDAQ:CBRL), which made it into the news cycle for a logo change that's part of its $700M rebrand campaign. The symbol booted "Old Timer Uncle Herschel" in favor of a barrel-shaped wordmark to "celebrate the diversity of all our guests" and "passion for pleasing people of all races, colors, and genders," but it didn't go over well among customers and investors. The stock slumped as much as 14% before climbing back, and advanced another 8% to $62 on Wednesday after reverting to its old logo. 

Snapshot: To note, Cracker Barrel's (NASDAQ:CBRL) stock never recovered after COVID, when it was trading in the $170-per-share range. Traffic has consistently declined and same-store sales have struggled to maintain positive momentum, while its overall business model and calorie-rich menu have struggled to adapt to changing consumer preferences. Cracker Barrel (NASDAQ:CBRL) also receives an "F" rating in Growth and "C-" in Profitability according to Seeking Alpha Quant, reflecting long-term operational challenges that'll need to be addressed by CEO Julie Felss Masino (who was brought in to turn around the company in 2023). 

"They got a Billion Dollars worth of free publicity if they play their cards right. Very tricky to do, but a great opportunity," President Trump wrote on Truth Social. "Congratulations 'Cracker Barrel' on changing your logo back to what it was. All of your fans very much appreciate it. Good luck into the future. Make lots of money and, most importantly, make your customers happy again!

Bud Lighted? "Honestly, the feedback has been overwhelmingly positive that people like what we're doing... The buzz is so good," Felss Masino responded last week when asked on Good Morning America what would happen "if all the customers are coming at you hard enough about the look of the restaurant and want to go back to the old way." There have also been calls on social media for her to step down, as well as a fresh campaign by one of Cracker Barrel's (CBRL) largest investors - Sardar Biglari - whose firm owns a nearly 5% stake in the company. However, Biglari is also the owner of fellow chain Steak ’n Shake, and has run seven mostly unsuccessful proxy fights against Cracker Barrel (CBRL) management for more than a decade.