WASHINGTON - Cracker Barrel announced Tuesday it will scrap its controversial new logo and restore its traditional “Old Timer” design after facing intense backlash and nearly $100 million in lost market value.
The decision comes less than a week after the 55-year-old company unveiled a logo refresh that removed the familiar image of an old man with a barrel, sparking criticism from customers, politicians and other restaurant chains. The company’s stock fell by more than 7 percent, wiping out $94 million in value.
In a series of social media posts, Cracker Barrel said it had listened to its customers and would keep the long-standing imagery. “Our new logo is going away and our ‘Old Timer’ will remain,” the company wrote, thanking patrons for their loyalty and passion for the brand.
Cracker Barrel also reassured guests that its heritage and menu staples will remain intact. “What has not changed, and what will never change, are the values this company was built on when Cracker Barrel first opened in 1969: hard work, family, and scratch-cooked food made with care,” the company stated.
Despite the costly stumble, Cracker Barrel said it is committed to learning from the experience while continuing to focus on hospitality, comfort and tradition.
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