By DEE-ANN DURBIN, AP Business Writer
Cracker Barrel’s CEO is stepping down nearly a year after an attempted rebrand of the chain led to a fierce customer backlash.
Cracker Barrel said Monday that CEO Julie Masino will step down next month but remain with the company until Oct. 9 in an advisory capacity.
David Deno will succeed Masino on Aug. 10 as CEO. Deno served as the CEO of Bloomin’ Brands, which owns Outback Steakhouse and other chains, from 2019 to 2024. He has also held executive roles as Best Buy and Yum Brands, which is the parent company of KFC and Taco Bell.
Last August, Cracker Barrel announced plans for a simplified logo featuring only the company’s name. Lebanon, Tennessee-based Cracker Barrel, which has 660 restaurants in 43 states, made the change as part of a wider plan to modernize its restaurants and appeal to younger customers. The company also started revamping some restaurants to make them lighter and less cluttered.
But many protested the changes and sales plummeted. Cracker Barrel quickly reversed the planned changes, but sales have continued to sputter. Cracker Barrel’s same-store sales were down 1.8% in its fiscal third quarter, which ended May 1.
Cracker Barrel shares fell 4% in morning trading Monday.