Jennifer Sey, founder and CEO of XX-XY Athletics, comments on the logo shift controversy at Cracker Barrel and the ongoing transgender case in Utah, as discussed on “Varney & Co.”
Cracker Barrel attempted to rebrand its logos, aiming to rejuvenate the company as it faced challenges from the pandemic. This decision came as the chain struggled with a dip in its financial performance.
A few years prior, before the pandemic hit, the company’s stock had reached a peak of $185 per share in November 2018.
In response to stagnation, CEO Julie Fels Masino initiated a transformation project last year intended to boost sales and breathe new life into the brand. However, the logo changes introduced and then quickly reversed were part of this initiative.
Results thus far have been mixed. In the third quarter of 2025, Cracker Barrel reported a 1% rise in comparable restaurant sales, yet retail sales saw a decline of 3.8% during the same period.
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Retail sales contribute just 17% to Cracker Barrel’s overall revenue, while their immersion sales influence profit margins.
The company faces additional pressure from customs tariffs on products sold through its retail side, pushing it to reassess its supply chain. “To give you an idea, about one-third of retail items are sourced directly from Chinese vendors,” Masino noted in the third quarter earnings call. “Beyond that, there are indirect impacts from products coming through domestic sources sourced from China,” she explained. “We’re working actively to negotiate with our suppliers.”
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Masino mentioned the team at Cracker Barrel is focused on refining its product offerings, adjusting the number of items and themes to align better with what customers want. For example, the rollout of Halloween and Christmas lines might be rescheduled to better fit demand.
Moreover, the company is engaging with vendors to seek alternatives, considering sourcing from various global regions. “Pricing is also an option, but given the discretionary nature of the business, we need to be cautious,” Masino added, emphasizing the importance of thoughtful pricing strategies informed by their transformation work.
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Cracker Barrel has raised prices by 1.5% as part of fiscal year 2024 adjustments, but an increase of 3.4% was implemented in fiscal year 2025.
Furthermore, the company anticipates a $5 million hit to revenue resulting from fourth-quarter tariffs.
During an analyst’s inquiry about fiscal year 2026 expectations, Masino responded, “For us to outline annual guidance, we’ll provide a thorough explanation regarding our thinking on customs in September,” indicating that further details on their mitigation plan will be shared.
