Cracker Barrel Old Country Store Inc. said it’s getting rid of a new logo that had sparked controversy and prompted a slump in its share price.
“We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have,” the company said Tuesday in a statement.
“Our new logo is going away and our ‘old timer’ will remain.”
The shares rose as much as 8.6% in extended New York trading.
Cracker Barrel has faced a backlash on social media since changing its vintage logo by removing an image of a man leaning against a barrel while making the lettering more modern.
Critics said the new design strips the chain of its history. Political conservatives in particular accused the restaurant of looking to get rid of motifs seen as linked to American culture, which in their view has been under attack.
The reversal follows a string of share losses in recent days, with the largest coming on Aug. 21 as criticism surged. The rebrand was part of broader turnaround efforts that Chief Executive Officer Julie Felss Masino has undertaken to reverse declining diner traffic.
The company is also remodeling stores and updating its menu.
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