By Lauren Thomas

Cracker Barrel Old Country Store Chief Executive Officer Julie Felss Masino said the company made the logo change that prompted a fierce backlash because it wanted something that was easier for drivers to see on highway billboards.

It wasn't meant to be ideological, she added.

Masino made the comments at the 13D Monitor Active-Passive Investor Summit in New York City on Tuesday.

Cracker Barrel replaced its longtime logo featuring a man in overalls leaning against a barrel, with a streamlined version featuring just the chain's name. It reversed the change in late August after everyone from die-hard customers to President Trump weighed in, accusing the store of abandoning its heritage and tradition.

"Part of this transformation is setting up success for the long term," she said Tuesday.

Masino attended the conference, along with Cracker Barrel's general counsel, to discuss the company's experience being targeted by an activist investor for over a decade.

Sardar Biglari has already run seven proxy contests at the family-dining chain since 2011 and continues to pressure the company. Biglari, who is also the CEO of rival restaurant chain Steak 'n Shake, is a shareholder in Cracker Barrel through his investment funds.

He has cited Cracker Barrel's "poor capital allocation record" and said that its transformation plan didn't boost investor confidence. Steak 'n Shake, which Biglari owns, has also called for Masino to be fired following the logo change.

Masino said she had lunch with Biglari at a Cracker Barrel restaurant after taking over as CEO in late 2023 and that he brought few new ideas to the table. "Mr. Biglari's playbook...is making many misinformed statements."

Cracker Barrel's shares are down about 30% year to date, bringing the company's market capitalization around $825 million.

It remains to be seen how much long-term damage Cracker Barrel might suffer as a result of the controversy. Cracker Barrel also dropped the marketing firm that had advised on the logo change and halted a handful of store remodels that evoked a more modern design.

Masino joined Cracker Barrel after years at companies like Starbucks and Taco Bell.

She soon embarked on a three-year transformation of the brand, which included paying for store remodels and menu upgrades. After catering to retirees and families on road trips, Cracker Barrel was aspiring to court younger guests.

Masino previously said the chain did extensive customer research before making any of its updates.

Write to Lauren Thomas at lauren.thomas@wsj.com

(END) Dow Jones Newswires

October 21, 2025 12:10 ET (16:10 GMT)

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