Cracker Barrel announced that CEO Julie Masino will resign next month, effective August 10, but will stay in an advisory role until October 9. Her departure follows a tumultuous period marked by a controversial logo redesign in August 2025, which, despite being reversed, led to significant customer backlash and a nearly $100 million drop in the company's market value. The attempted rebranding was part of a broader "All the More" modernization effort aiming to revitalize the struggling casual-dining chain.
The financial impact of the rebrand was substantial. Cracker Barrel's same-store restaurant sales fell 5% last fall and 7% in the quarter ending January 30, 2026. Same-store retail sales saw even sharper declines. Operating income dropped significantly in the December quarter to $7.19 million from $45.81 million a year prior. Despite these challenges, shareholders voted in November 2025 to retain Masino as CEO, and sales trends reportedly began to improve in recent months, with a 2.6% decrease in same-store restaurant sales for the quarter ending May 1. The company subsequently raised its full-year revenue and profit forecast.
David Deno, former CEO of Bloomin' Brands (parent company of Outback Steakhouse and Bonefish Grill), will succeed Masino on August 10. Deno brings over four decades of restaurant and retail industry experience. Cracker Barrel's stock, which fell 2.7% in early afternoon trading following the announcement, remains about 18% down from a year ago, but has seen a 105% increase since the start of 2026, indicating some recovery. The company has also taken steps to improve its financial position, including a sale-leaseback deal of 26 properties, generating about $77 million, and the sale of its Maple Street Business Company brand and locations.
