Cracker Barrel shares rise after restaurant chain gets rid of controversial new logo

Joe Raedle | Getty Imagess of Cracker Barrel Old Country Store rose roughly 7% Wednesday after the restaurant chain said it would scrap its new logo and return to the original one, amid mounting criticism from social media users and even President Donald Trump.The stock moves on Tuesday night and Wednesday morning have brought Cracker Barrel s close to restoring their original losses from when the new logo was first announced last week."We thank our guests for sharing your voices and love for Cracker Barrel

We said we would listen, and we have

Our new logo is going away and our "Old Timer" will remain," the company said in a statement on Tuesday.The switch occurred just hours after Trump weighed in on the rebranding, writing on social media "Cracker Barrel should go back to the old logo, admit a mistake based on customer response (the ultimate Poll) and manage the company better than ever before."After Trump's message, s of Cracker Barrel were up over 6% at Tuesday's close.Trump congratulated the company in a social media post later Tuesday evening after the announcement that the original logo would remain."Congratulations 'Cracker Barrel' on changing your logo back to what it was

All of your fans very much appreciate it

Good luck into the future

Make lots of money and, most importantly, make your customers happy again!" the post read.Taylor Budowich, White House deputy chief of staff, also said in a post on X that he had spoken with the company earlier in the evening and Cracker Barrel had thanked the president for weighing in on the matter.Cracker Barrel's old and new logo.Courtesy: Cracker BarrelThe posed logo redesign, which the company announced last week, removed the image of the restaurant's "Uncle Herschel" character leaning against a barrel that was minently in the original, leaving behind just the words "Cracker Barrel" against the outline of a yellow barrel

The phrase "Old Country Store" was also removed.The colors, which the company said were inspired by the restaurant's eggs and biscuits, stayed close to the original.Social media users were quick to blast the new logo, calling it "generic," "soulless" and "bland." Conservatives in particular accused the restaurant chain of going "woke," by doing away with the classic American branding.A YouGov poll of 1,000 adults over the weekend found that 65% of Americans were aware of the new logo and 76% preferred the old one.The company addressed the backlash in a statement Monday, saying it has "shown us that we could've done a better job sharing who we are and who we'll always be."Cracker Barrel has repeatedly stated that the new branding would not change the core values of the company."At Cracker Barrel, it's always been – and always will be – serving up delicious food, warm welcomes, and the kind of country hospitality that feels family," the statement from Tuesday night read. "As a ud American institution, our 70,000 hardworking employees look forward to welcoming you to our table soon."