Shares of Cracker Barrel Old Country Store (CBRL) experienced a 4% surge during Wednesday's premarket trading. This came about after the institution, beloved for its nostalgic appeal, decided to reverse a recent controversial change in its logo. Expressing their gratitude on social media platform X, the company thanked "our guests for sharing your voices and love for Cracker Barrel," and added that, after careful consideration of their input, "our new logo is going away and our 'Old Timer' will remain."
Earlier this month, Cracker Barrel shares had taken a hit following immense blowback stemming from the logo change. The restaurant chain had replaced its traditional logo - that of a man leaning on a barrel - with a much simpler design featuring only the Cracker Barrel name, hoping to appeal to a younger demographic.
However, the reaction from the public was decidedly negative, leading to even President Donald Trump voicing his opinion. He encouraged the company on Tuesday to "go back to the old logo, admit a mistake based on customer response (the ultimate Poll), and manage the company better than ever before." He later congratulated Cracker Barrel on reversing their decision, adding that "your fans very much appreciate it."
Before the premarket session, Cracker Barrel Old County Store shares had seen a 9% increase over the year thus far.