(LOOTPRESS) – Cracker Barrel’s stock fell sharply Thursday following the rollout of a new logo that removed the restaurant’s longtime imagery.

The 55-year-old company’s share value dropped 7.2 percent, or $94 million, after it unveiled a rebrand that eliminated the old man and barrel from its logo, along with the signature whipping “K” flourish.

Cracker Barrel Chief Marketing Officer Sarah Moore described the change as a “refresh” back in March, saying the goal was to revitalize a brand that “resonates with loyal guests while welcoming new ones to our table.”

The relaunch involved PR firms Prophet, Viral Nation and Blue Engine, which contributed to new messaging on social media, redesigned menus and the restructuring of 20 restaurants.

The change has sparked intense pushback from lawma

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