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TENNESSEE - Wall Street is punishing Cracker Barrel yet again.
On Wednesday, the rustic-themed chain with 660 restaurants reported mixed results, including a $30million sales drop from June to August compared to last year.
That's equivalent to 2.3million plates of country fried steak.
Wall Street was most worried by expectations that next year's sales would drop by four to six percent. In after-hours trading, investors sent the share price down 10 percent.
Wednesday's result is the first time the company has reported sales since angering fans over a $700million facelift.
On August 19, the company revealed a new logo that nixed the cross-legged old man sitting on a rocking chair. Instead, new branding had a simple yellow background.
The chain had also been ripping out farmhouse-style lattice wood from its restaurants and replacing them with modern, white-painted walls. Brighter lighting came from ceiling-mounted pendants.
Customers, staffers, and conservative commentators initially complained about new design, saying both changes axed the chain's country vibes.
https://www.dailymail.co.uk/yourmoney/a ... brand.html