Logo Redesign Reversal: Cracker Barrel announced it will not proceed with its planned logo redesign after receiving significant backlash from customers and social media, opting to keep the original "Old Timer" logo.
Public and Political Reaction: The proposed logo change faced criticism from various quarters, including President Trump and conservative media, leading to a broader debate about the company's direction under CEO Julie Felss Masino.
Stock Performance: Following the announcement of retaining the old logo, Cracker Barrel's stock saw a 4.11% increase in pre-market trading, building on a previous 6.35% rise, despite a prior drop of over 10% when the redesign was first revealed.
Analyst Ratings: Wall Street analysts currently rate Cracker Barrel stock as a Hold, with an average price target of $55.80, indicating a potential downside for investors.
Biglari Holdings Inc. is a holding company owning subsidiaries engaged in several diverse business activities, including property and casualty insurance and reinsurance, licensing and media, restaurants, and oil and gas. The Company’s restaurant operations are conducted through two subsidiaries: Steak n Shake Inc. (Steak n Shake) and Western Sizzlin Corporation (Western Sizzlin). Its insurance and reinsurance business activities are conducted through subsidiaries, namely, First Guard Insurance Company and its affiliated agency, 1st Guard Corporation (First Guard); Southern Pioneer Property & Casualty Insurance Company and its affiliated agency, Southern Pioneer Insurance Agency, Inc. (Southern Pioneer); and Biglari Reinsurance Ltd. Its oil and gas operations are conducted through two entities, Southern Oil Company (Southern Oil) and Abraxas Petroleum Corporation (Abraxas Petroleum). Southern Oil operates oil and natural gas properties offshore in Louisiana state waters.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
