Top News

Retail investors came back unimpressed and considered short positions after a clarification from Cracker Barrel Old Country Store over its logo change that sparked a major controversy last week.

Shares of the company declined 0.25% on Monday, its seventh consecutive session of declines, pushing the stock on the verge of sliding into the red for the year.

Cracker Barrel last week changed its long-standing logo, which featured an old man leaning on a barrel, with a simplified, text-only design. That sparked backlash from social media users and conservative bureaucrats, who criticized the diner-and-store chain for abandoning its Southern country theme—a core part of its identity and a source of nostalgia for many Americans.

In a clarification issued through its social media channels on Monday, Cracker Barrel stated that its core offering and experience would remain the same, and the effort is to ensure "Cracker Barrel is here for the next generation of families." The old man, "Uncle Herschel," will still be on the menus and road signs, and the diner chain will keep its popular menu items and maintain the "country hospitality" experience.

Retail watchers on Stocktwits broadly disliked the change - "What is cracker barrel without the barrel?" one argued - and deemed it an ill-conceived move by its CEO, Julie Masino.

Masino, who took over as chief in 2023, has been pushing modernization efforts. Last week, the company unveiled a $700 million brand makeover, which includes upgrading diner and store interiors, menu changes, and new TV commercials.

"Trajectory will be down until they fire and replace the CEO and management - which will happen sooner than you think," a user posted on Stocktwits on Tuesday.

The retail sentiment for the company shares was 'bearish' as of the latest reading, with 'extremely high' message volume. CRBL stock is up 0.7% year-to-date.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<