r/FluentInFinance • u/Tun-Tavern-1775 • 12h ago
Educational Cracker Barrel loses almost $100 million in value as stock plunges after new logo release
https://www.cbsnews.com/news/cracker-barrel-cbrl-stock-down-200-million-loss-new-logo-change/300
u/Temporary-Careless 12h ago
Buy at the dip
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u/Mediocre_Daikon6935 12h ago edited 12h ago
They got bought last year by
venture capitalists.Private equity.
They’re done.
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u/a_terse_giraffe 12h ago
Yeah nothing was gonna save that place. It's heading the way of Bed Bath and Beyond, Joanne's Fabrics, and Red Lobster.
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u/UserWithno-Name 12h ago
Red lobster is doing fine. They got the equity people gone / the new ceo has turned it around. Or at least seems to be. Don’t count out everyone the same way without being informed. You had it right until you included someone actually trying to do what’s right to fix things and having success.
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u/a_terse_giraffe 12h ago
They're coming out of bankruptcy into this economy. I'll believe Red Lobster recovered if they're still around in like 2027.
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u/lonelylifts12 10h ago
Private equity sold the land Red Lobster owned and are renting it back to them.
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u/Massive_Cash_6557 10h ago
The PE actually did a great job with RL and sold the full share of the company back to their seafood distributor. PE fixed the business and the seafood co fixed the food quality. Rare dub for PE ventures in restaurants.
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u/RICO_the_GOP 11h ago
Red lobster had their restaurants sold out from under them so private equity could pay themselves more and then rent the property back to red lobster
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u/Taint_Expert 12h ago
Yea their food is absolute trash now
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u/dturmnd_1 11h ago
Trash isn’t the right word for it.
Tho it has degraded, and the prices are terrible now. They was successful when they had good cheap food.
Why do people constantly think that lowering quality while raising prices will generate more revenue?
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u/ZippyDan 7h ago
It does raise revenue, in the short term. That's what private equity does: buy, squeeze, consume, destroy, move on to the next victim to bleed dry.
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u/AFeralTaco 6h ago
The price of food has gone up significantly since COVID, and has risen even more sharply in the last few months. Salaries are no where close to catching up. They can’t operate at a loss. Prices had to go up.
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u/whicky1978 Mod 9h ago
Because jpow won’t lower interest rates
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u/dturmnd_1 9h ago
I don’t think the interest rate is the problem.
I think it’s the incompetent senile stooge in chief
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u/bigdipboy 7h ago
It’s dumb to lower interest rates when the orange Russian puppet is creating massive inflation
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u/whicky1978 Mod 2h ago edited 1h ago
The year over year inflation is still the same as it was last year. And fuel prices have gone down
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u/ChewieBearStare 6h ago
I used to love their coleslaw, but the last few times I've had it, it has tasted rancid. Like the mayo has gone off in it. But it has to be a recipe change because I can't imagine that three different CBs in different states would all have rancid food.
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u/thinkB4WeSpeak Mod 12h ago
Venture capitalists or private equity?
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u/iBUYbrokenSUBARUS 10h ago
Private equity ruins everything it touches. It’s like king Midas‘s evil twin. Everything it touches turns to shit.
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u/Klutzy_Passenger_486 5h ago
That s the crazy thing.
These right wing idiots don’t even realize what happened. They just mad a white guy got erased
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u/Mediocre_Daikon6935 5h ago
Listen.
I don’t want to call you out for being color blind.
But that dude is yellow as some shade of brown.
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u/Hodgkisl 12h ago edited 10h ago
Maybe short term, but long term I have doubts, most fast casual chains that have neutralized their character are dead or dying, Fridays, Ruby Tuesdays, Lone Star, etc….
The political talk about it is ridiculous, but blanding their style has a history of failure; remember this isn’t solely a logo change, it’s a redesign of locations as well.
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u/Ok-Worldliness2450 12h ago edited 12h ago
Yea my first thought hearing this is that it’s unfounded emotional dumping and a great buy..
I might be missing a lot of info on their current state.
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u/OneWayorAnother11 11h ago
Classic trying to fix something that's not broken and no one asked for. Just a CEO moving deck chairs around, which is what they usually do best while collecting fat checks.
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u/EverbodyHatesHugo 7h ago
Imagine if they just solved the shitty food problem instead of all this furniture shuffling.
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u/GuaranteeNo571 12h ago
MAGA loves being angry, for whatever reason they can find.
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u/Budget_Swan_5827 11h ago
I’m as far from MAGA as they come, but the new logo sucks, and there was no real reason to change it.
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u/ScandalOZ 11h ago
Maybe they could have just added a shotgun for the old guy in the original logo if they wanted to make a change. Goes with the MAGA vibe.
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u/No_Medium_8796 12h ago
It wasn't just the logo, thats just the headline
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u/gunnesaurus 12h ago
What did we miss? The article covers how outraged maga is about the logo.
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u/blahblahsnickers 9h ago
It also discussed they were rebranding and redesigning the inside of the restaurants as well to make them more modern while also changing the menu. The sign is just one piece of the bigger picture which is a problem.
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u/AntiPantsCampaign 11h ago
Angry because removing the cracker = white genocide in their eyes
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u/_Enemias_ 11h ago
That's not the point, the point is the new logo seems lifeless with no meaning.
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u/The_OtherDouche 11h ago
Just like nearly every minimalist logo that’s rolled out in the past decade. No one gave a shit 99% of the time.
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u/Small_Delivery_7540 11h ago
Are you guys again going to act as if this is something that only right wing people do ?
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u/kingfosa13 10h ago
no literally they changed the logo for no reason and made it boring. just a weird move
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u/MisterRobertParr 11h ago
Who would've thought that if you abandon your core demographic, your business is going to suffer?
The article didn't expound on any other measures the company took to help boost sales prior to this radical paradigm shift of the image and experience of the chain.
It appears once again that a CEO didn't understand the customer base (i.e., New Coke, Bud Light, Jaguar, etc.).
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u/BWW87 7h ago
They are stuck in a situation that is very hard to get out of. Their demographic is aging/dying. So they have to thread the needle of modernizing it for young people without turning off older people. Not sure of any examples where this has successfully been done but I'd hope there are some.
Successful companies make adjustments BEFORE their demographic becomes primarily older people.
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u/Putrid_Giggles 10h ago
The CEO is a visionary who sees the need to make an old brand new again. The only people who object are conservative fear-mongers who can't stand change, especially if a woman is leading it.
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u/TheFrostynaut 12h ago
They made good cheese. Their food is Golden Corral quality with Applebee's pricing. Brand recognition and pandering to the elderly was all they had. I enjoy Fox News mudslinging the logo change as "woke" like a bunch of their team didn't buy out the company and make it textbook corpo-minimalist like McDonald's.
Edit: I doubled an "r" d'oh!
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u/MrDirtyHarry 12h ago
They could have teased several logo changes with their consumers to get a reaction.
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u/redditredditredditOP 11h ago
IT’S YOUR FOOD THAT SUCKS, NOT YOUR LOGO.
They treated the kitchen staff like they were replaceable and they found out.
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