The public has spoken – swiftly. Depending upon which news source you trust, CB has lost between $100 mil and $200 mil in stock equity – attributed to their new “brand”. Now, sometimes you’ll see brands develop a culture shock when they try to reinvent themselves. Change is hard for consumers so sometimes it takes time and sometimes rebrands like this become a knockout punch to the corporation. You may recall the Budweiser Dylan Mulvaney controversy not too long ago. Budweiser hasn’t recovered. Yet, anyway. Now, remember, this rebrand is supposed to “modernize” their stores and their menus as well – so, could these additional changes help the company to recover or is this going to kill them, permanently? It doesn’t look good for them as the nostalgic brand’s rebrand has clearly struck a nerve with consumers.
I think they could use this brand confusion to their benefit (if they fall even further). They may have to tuck their tails between their legs and say – “Our customers have spoken” and do a BIG promotion around that messaging.
https://www.cbsnews.com/news/cracker-barrel-cbrl-stock-down-200-million-loss-new-logo-change
-Jonathan Sackett