Cracker Barrel loses almost $100 million in value as stock plunges after new logo release

[Bluetus]

84. Happens all the time.

Have you ever attended a corporate annual shareholder meeting, especially with a struggling company?

In CB's 2014 meeting they made these promises about a "strategic transformation:"

Cracker Barrel's strategic transformation is built on five key pillars designed to appeal to both loyal customers and new generations.
Refine the brand: The company is evolving its branding, including a new, simplified logo and a creative campaign titled "All the More" to reposition itself.
Enhance the menu: Cracker Barrel is introducing new menu items, streamlining operations, and using strategic pricing to improve profitability while maintaining a sense of value.
Evolve the store and guest experience: The company is testing store remodels to create brighter, more modern spaces that still feel connected to the brand's heritage. Investments are focused on better operational execution and enhancing the overall atmosphere.
Win in digital and off-premise: Cracker Barrel is growing its digital business and leveraging its new "Cracker Barrel Rewards" loyalty program. The loyalty program has quickly amassed millions of members who visit and spend more frequently.
Elevate the employee experience: Initiatives include upgrading training programs and using technology to simplify roles and improve employee retention.

Now a year later, this is what they came up with?

As I said above, the stock drop was not actually very significant -- only about 5%. I don't know why everybody is obsessing about that. They are still up 25% over the past 12 months. It should have lost at least 1/3 of its value since the 2014 meeting because they have only stabilized operations at the barely profitable level and have taken no major actions to either trim non-performing properties or otherwise improvement the business.