Restaurant firm Cracker Barrel Outdated Nation Retailer Inc. CBRL noticed its shares fall final week on the heels of a firm emblem rebrand, as upset customers frightened concerning the look of the brand and the inside of eating places.
On Monday, the corporate issued a press release on the brand change because it faces extra stress a couple of Board of Director member and prediction markets take bets on its CEO leaving.
Cracker Barrel Points Emblem Rebrand Assertion
In a submit shared on Fb Monday, Cracker Barrel issued “a promise to our company.”
The restaurant firm expressed gratitude for the feedback from followers and acknowledged that the restaurant’s values, which had been established when the primary retailer opened in 1969, stay unchanged: “laborious work, household, and scratch-cooked meals made with care.”
“You have additionally proven us that we may’ve completed a greater job sharing who we’re and who we’ll all the time be,” the restaurant firm mentioned.
The submit mentioned that the eating places will really feel like residence and be a spot for everybody.
“The issues folks love most about our shops aren’t going anyplace: rocking chairs on the porch, a heat fireplace within the fireplace, peg video games on the desk, distinctive treasures in our present store and classic Americana with antiques pulled straight from our warehouse in Lebanon, Tennessee.”
The corporate mentioned it isn’t altering its emblem rebrand, however added that the “previous timer” from the previous emblem will probably be featured on the menu, highway indicators and inside shops.
“We all know we cannot all the time get every thing proper the primary time, however we’ll preserve testing, studying, and listening to our company and workers.”
Learn Additionally: Cracker Barrel Q3 Restaurant Gross sales Sizzle, Ups Annual EBITDA Outlook
Board of Administrators Member Underneath Stress
Final week, it was Cracker Barrel CEO Julie Felss Masino who was beneath stress for the brand rebrand and studies about her previous work historical past.
Conservative activist Robby Starbuck is now focusing on Cracker Barrel Board of Administrators member Gilbert Davila, in line with a report from the New York Put up.
In a video, Starbuck known as out Davila for the corporate he is behind.
“What certified him for the board seat?” Starbuck mentioned within the video. “Properly, you see, he is owned a DEI consulting and technique agency for 15 years that focuses on pushing DEI and DEI promoting.”
Davila, who joined the Cracker Barrel Board in July 2020, has additionally been the CEO of DMI Consulting since 2010.
“Folks like him are behind the woke promoting push that we have seen in recent times. And he was additionally one of many folks chargeable for DEI at Disney.”
Within the video, Starbuck accused Cracker Barrel of not simply altering its emblem, however specializing in abandoning the values of center Individuals in a multi-year marketing campaign.
On its web site, Cracker Barrel says Davila is the CEO of DMI Consulting, “a number one multicultural advertising and marketing, variety & inclusion and technique agency in america.”
Prediction Markets Goal Masino
As the brand rebrand uproar went viral, prediction markets pounced on the chance.
Kalshi has a prediction marketplace for whether or not Masino will probably be out because the Cracker barrel CEO earlier than the tip of the yr.
On Monday, there’s a 28% probability that Masino will probably be out as CEO in 2025. The chances had been as excessive as 42% on Aug. 22.
Prediction market Polymarket additionally has an analogous marketplace for Masino out as CEO with a 26% probability as of Monday.
CBRL Worth Motion
Cracker Barrel inventory was down 0.3% on Monday to $54.26, including to final week’s losses. The inventory, which has traded between $33.86 and $71.93 over the past yr, is down 17.5% over the past month. Shares are down 1.2% year-to-date in 2025.
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Picture: Jonathan Weiss through Shutterstock
