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Investing.com -- Shares of Cracker Barrel rose 5% Tuesday morning after a social media post from President Donald Trump. The president weighed in on the recent controversy surrounding the company, after Cracker Barrel’s logo redesign sparked significant customer backlash and wiped out nearly $100 million in market value.
The company unveiled a new logo last week as part of a brand refresh, removing the image of an older gentleman sitting in a wicker chair leaning against a barrel. This figure, known as Uncle Herschel, depicts company founder Dan Evins’ uncle.
Following the negative reaction, Cracker Barrel issued a statement Monday acknowledging the misstep, saying it "could’ve done a better job sharing who we are and who we’ll always be." The company assured customers that "Uncle Herschel will still be on our menu...on our road signs and featured in our country store. He’s not going anywhere — he’s family."
Conservative critics interpreted the removal of Uncle Herschel as an attempt to strip the chain of its history and character.
President Donald Trump addressed the controversy, suggesting Cracker Barrel "should go back to the old logo, admit a mistake based on customer response (the ultimate Poll), and manage the company better than ever before." Trump added that the company received "a Billion Dollars worth of free publicity if they play their cards right."
The Cracker Barrel situation follows similar consumer backlash experienced by Anheuser-Busch InBev and Target in 2023. Anheuser-Busch’s Bud Light collaboration with transgender influencer Dylan Mulvaney led to a 20% drop in shares within two months, while Target faced pushback over its LGBTQ-themed merchandise.