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In reply to the discussion: Cracker Barrel loses almost $100 million in value as stock plunges after new logo release [View all]Bluetus
(1,550 posts)84. Happens all the time.
Have you ever attended a corporate annual shareholder meeting, especially with a struggling company?
In CB's 2014 meeting they made these promises about a "strategic transformation:"
Cracker Barrel's strategic transformation is built on five key pillars designed to appeal to both loyal customers and new generations.
Refine the brand: The company is evolving its branding, including a new, simplified logo and a creative campaign titled "All the More" to reposition itself.
Enhance the menu: Cracker Barrel is introducing new menu items, streamlining operations, and using strategic pricing to improve profitability while maintaining a sense of value.
Evolve the store and guest experience: The company is testing store remodels to create brighter, more modern spaces that still feel connected to the brand's heritage. Investments are focused on better operational execution and enhancing the overall atmosphere.
Win in digital and off-premise: Cracker Barrel is growing its digital business and leveraging its new "Cracker Barrel Rewards" loyalty program. The loyalty program has quickly amassed millions of members who visit and spend more frequently.
Elevate the employee experience: Initiatives include upgrading training programs and using technology to simplify roles and improve employee retention.
Refine the brand: The company is evolving its branding, including a new, simplified logo and a creative campaign titled "All the More" to reposition itself.
Enhance the menu: Cracker Barrel is introducing new menu items, streamlining operations, and using strategic pricing to improve profitability while maintaining a sense of value.
Evolve the store and guest experience: The company is testing store remodels to create brighter, more modern spaces that still feel connected to the brand's heritage. Investments are focused on better operational execution and enhancing the overall atmosphere.
Win in digital and off-premise: Cracker Barrel is growing its digital business and leveraging its new "Cracker Barrel Rewards" loyalty program. The loyalty program has quickly amassed millions of members who visit and spend more frequently.
Elevate the employee experience: Initiatives include upgrading training programs and using technology to simplify roles and improve employee retention.
Now a year later, this is what they came up with?
As I said above, the stock drop was not actually very significant -- only about 5%. I don't know why everybody is obsessing about that. They are still up 25% over the past 12 months. It should have lost at least 1/3 of its value since the 2014 meeting because they have only stabilized operations at the barely profitable level and have taken no major actions to either trim non-performing properties or otherwise improvement the business.
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Cracker Barrel loses almost $100 million in value as stock plunges after new logo release [View all]
Polybius
Aug 22
OP
Second most hated marketing department after Sirius Cybernetics Corporation's nt
Xipe Totec
Aug 22
#44
Or the decision was made after conducting focus groups comprised of Gen Z's and Millennials
Auggie
Aug 22
#6
And lowered the pitcher's mound by an inch or so. That is to allow more home runs.
3Hotdogs
Aug 22
#16
I've not heard about this, and can't find any verification online. Do you have a link?
TheRickles
Aug 22
#19
Yes, I knew about the 1969 change. Your post sounded like another, more recent change had been instituted.
TheRickles
Aug 22
#35
Doing many things to speed up the game. Only so many throws to first by the pitcher are allowed
Bengus81
Aug 23
#74
No, the screw-up was overestimating the intelligence and emotional maturity of their customers.
Paladin
Aug 22
#8
I should have been more clear, as I was referring to certain products and businesses
Polybius
Aug 23
#91
I've never eaten at Cracker Barrel, but if I was a customer, the new logo would not change my attitude.
LeftInTX
Aug 23
#89
Exactly. Cracker Barrel's logo change became the most recent exmple of "evil wokeism" for right-wingers.
sop
Aug 23
#73
Disney came under lots of criticism when they changed their Aunt Jemima pancake house in Disneyland.
ificandream
Aug 24
#116
One thing that we took comfort in when my MIL passed away--no more visits to Cracker Barrel
Maeve
Aug 22
#14
I can't understand why anyone rational is "upset" about a minor change in the logo of a cheap restaurant
muriel_volestrangler
Aug 23
#75
I love the new logo. To me, it looks like "woke" and "DEI" rolled into one image.
JustABozoOnThisBus
Aug 22
#27
Awesome strategy ... 10 more one-percenters just sold their stock in Cracker Barrel
FakeNoose
Aug 22
#29
What kind of idiot eats at a restuarant because of their logo? Or doesn't eat at a restuarant because of their logo?
Ferrets are Cool
Aug 22
#33
it ain't broke, just increasingly old and obsolete, the new logo is just bland not woke
pstokely
Aug 23
#115
I like Cracker Barrel food and their prices are reasonable. They have some things you don't see other places
doc03
Aug 23
#79
Just knowing I would never run into James Woods would be an incentive to eat there.
Greybnk48
Aug 23
#94
if someone is going to botcott cracker barrell over new logo they are an idiot
moonshinegnomie
Aug 23
#110