David Deno named CEO as chain faces falling sales
Cracker Barrel announced Monday that Julie Masino will step down as chief executive in August, a year after the chain’s rebrand ignited a national controversy. The company named David Deno, the former head of Bloomin’ Brands, as her successor. Masino will remain with the company through October to assist with the transition, Cracker Barrel said.
The leadership change follows a period of turmoil for the Tennessee-based chain, which operates nearly 660 country-themed stores and restaurants across 44 US states. Cracker Barrel’s attempt to simplify its classic logo and modernize store interiors early last year sparked fierce resistance from loyal diners who said the changes stripped away the brand’s nostalgic Southern charm. Critics described the rebrand as “soulless” and “generic,” BBC News reported.
President Trump urged the chain to restore its original logo amid the backlash. After Cracker Barrel reversed course, Trump later congratulated the company on the decision, according to BBC News.
In a statement, Deno paid tribute to Cracker Barrel’s “deep connection with guests across generations.” Management also thanked Masino for her tenure, though she did not issue a statement about her resignation.
The rebrand misstep highlighted the delicate balance facing brands trying to attract younger audiences without alienating their core customer base, BBC News reported.
Financially, Cracker Barrel has struggled. Shares fell more than 2% after Monday’s announcement and are down compared with the same time last year, reflecting declining sales and slowing customer traffic, according to BBC News. The chain also faces rising costs and intensifying competition from Denny’s and IHOP, which have been battling for budget-conscious diners seeking classic American comfort food.
Deno previously served as chief executive of Bloomin’ Brands, the parent company of Outback Steakhouse and other casual-dining chains. His appointment comes as Cracker Barrel works to stabilize its business amid broader headwinds in the restaurant industry.