Cracker Barrel Gets a New CEO After a Rocky Year, and the Stock Slides -- Barrons.com

By Anita Hamilton

Cracker Barrel CEO Julie Masino, who oversaw the homestyle restaurant chain's ill-fated rebranding efforts last year, is stepping down, the company said Monday.

Her successor, David Deno, former CEO of Outback Steakhouse owner Bloomin' Brands, will take the helm on Aug. 10.

The initial, sharp market reaction to the surprise announcement had eased by market close. Cracker Barrel Old Country Store stock closed down 2.4% at $52 after sliding more than 5% earlier in the day on the news.

Cracker Barrel made national headlines and was criticized by President Donald Trump last August when the company announced a new, streamlined logo design that clashed with its cozy, old-timey vibe. While Cracker Barrel quickly reversed its decision to update its logo, overall sales have continued to decline since then, along with same-store sales.

The stock lost more than half its value in 2025, and currently trades below its price before the logo backlash.

But shares have mostly bounced back, more than doubling this year. The recent rebound came as the company beat analyst expectations for its latest earnings and raised full-year guidance.

Last week, the company said that it expects to "achieve or exceed the high end of its revenue range" of $3.27 billion to $3.30 billion for the fiscal year ending in July.

The recent uptick in the company's stock price and outlook make the timing of the transition perplexing.

"This is a bit of a surprising move given the brand appeared to be gaining some same-store sales momentum," noted Citi analyst Jon Tower.

Deno brings deep experience in restaurants and retail. He served as CEO of Bloomin' Brands from 2019 to 2024, and previously was Best Buy's president of Asia and chief financial officer for its international division. He has also held senior positions at Yum! Brands and Pizza Hut, before Yum! acquired it.

Masino will remain at Cracker Barrel in an advisory capacity until Oct. 9, the company said, to support the transition.

Write to Anita Hamilton at anita.hamilton@barrons.com

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July 27, 2026 16:36 ET (20:36 GMT)