Overview
- Julie Felss Masino made the remarks at the 13D Monitor Active-Passive Investor Summit in New York City, according to the Wall Street Journal.
- The chain swapped its longtime Uncle Herschel illustration for a minimalist wordmark in mid-August, drew swift backlash including from President Donald Trump, and restored the heritage logo by the end of the month.
- Following the reversal, Cracker Barrel fired consulting firm Prophet, halted test remodels tied to a broader $700 million refresh, and reinstated Uncle Herschel on core brand assets.
- Shares fell nearly 10% after the controversy and are down about 30% for the year, while the company reported traffic dropped 8% in the weeks after the rollout.
- Activist investor Sardar Biglari, who has run seven proxy fights since 2011 and holds about 2.9% of shares, is using the episode to press for board and leadership changes.