Cracker Barrel Suspends Its Store Redesign. The Stock Keeps Falling.

Outside view of the Cracker Barrel Old Country Store in Mount Arlington, N.J. (GREGORY WALTON/AFP via Getty Images)

Restaurant chain Cracker Barrel is trying hard to win back its disgruntled fan base—but it may be too late. After a massive backlash last month against a planned logo redesign that even President Donald Trump called a “mistake,” the company announced Tuesday that it is halting the remodels of its stores, too.

“If your restaurant hasn’t been remodeled, you don’t need to worry, it won’t be,” the company said. “We heard clearly that the modern remodel design does not reflect what you love about Cracker Barrel.”

It added that only four of its 660 locations have the new designs, which feature a modern farmhouse look with a lighter color palette and fewer tchotchkes on the walls.

The chain rolled back its logo redesign, which stripped out the image of a man wearing overalls leaning against a large barrel, in late August after its stock fell as much as 15% in intraday trading on Aug. 21 amid the uproar. Critics called the new logo a “woke” redesign that was part of the company’s diversity, equity, and inclusion efforts.

Tuesday’s announcement wasn’t helping Cracker Barrel stock, however. It closed at $50 a share Tuesday, down 1% for the day, and 30% below its year-to-date closing high of $71.86 in July.

The stock is down around 5% this year, but is up 37% over the past 52 weeks. Cracker Barrel next reports earnings on Sept. 18.

Write to Anita Hamilton at anita.hamilton@barrons.com