barrels

China plans to evacuate close to 400,00 people from southern Shenzhen province as the typhoon makes landfall in the northern Philippines.

China has begun preparing to evacuate 400,000 people from the city of Shenzhen ahead of Typhoon Ragasa, which has barreled through northern Philippines with a wind speed of 215km/h (134mph).

Super Typhoon Ragasa made landfall on Monday in Calayan province in the Philippines at 3pm (07:00 GMT), Philippine forecasters reported. More than 8,200 people were evacuated to safety in Cagayan, while 1,220 fled to emergency shelters in Apayao province.

Tropical cyclones with sustained winds of 215km/h (134mph) or higher in the western Pacific are labelled “super typhoons”.

The Philippines’ weather agency warned that “there is a high risk of life-threatening storm surge with peak heights exceeding 3 metres (nearly 10 feet) within the next 24 hours over the low-lying or exposed coastal localities” of the northern provinces of Cagayan, Batanes, Ilocos Norte and Ilocos Sur.

Philippine President Ferdinand Marcos Jr suspended government work and schools in the capital and 29 provinces in the northern Luzon region.

Ragasa is the 14th weather disturbance to hit the Philippines this year, which comes as the country deals with anti-corruption protests linked to ghost flood-control projects.

The typhoon is forecast to move westwards and remain in the South China Sea until at least Wednesday while passing south of Taiwan and Hong Kong before hitting the Chinese mainland.

Land and sea warnings

Chinese authorities have activated flood control measures in southern provinces and warned of heavy rainfall beginning from Tuesday night.

In China’s Shenzhen, authorities said on Sunday night that they planned to move hundreds of thousands of people from coastal and low-lying areas before the typhoon reaches them.

Other cities in the Guangdong province announced the cancellation of classes, work and public transportation due to the heavy rainfall and strong winds.

Moreover, Taiwan has issued land and sea warnings, cancelled 146 domestic flights, and evacuated more than 900 people from mountainous southern and eastern areas.

Vietnam’s Defence Ministry ordered its forces to monitor the storm and prepare for possible landfall later this week.

Well, that was fast.

Just one week after revealing a new logo that was nearly universally panned, Cracker Barrel Old Country Store (CBRL 8.01%) announced on Tuesday that it was scrapping its plans to change the logo. On Wednesday, the company’s shares — which had tumbled more than 10% after the new logo was revealed — had rebounded by 8.0% by the time the closing bell rang.

For investors who bought the dip, it’s a pretty good outcome. But is it too late for everyone else to buy in?

Why shares were down

On Aug. 19, Cracker Barrel launched a fall campaign it dubbed “All the More.” It was mostly a pretty standard seasonal restaurant campaign. It announced a partnership with country music star Jordan Davis and introduced some seasonal fall menu items like a cinnamon roll skillet and Uncle Herschel’s Favorite (“back by popular demand”).

However, the campaign also featured “updated creative,” including a change to the restaurant’s logo that removed the eponymous barrel and the iconic “old timer” figure — referred to by many as “Uncle Herschel” — leaving only an orange background and the words “Cracker Barrel.”

The backlash was immediate and intense, with many criticizing the stripped-down logo as generic or too reminiscent of other restaurant logos, such as Denny’s or Golden Corral. On Tuesday, even President Donald Trump weighed in on Truth Social, “Cracker Barrel should go back to the old logo, admit a mistake based on customer response (the ultimate Poll), and manage the company better than ever before.”

Despite the negative reactions, Cracker Barrel initially doubled down on its logo decision, with a spokesperson saying the feedback had been “overwhelmingly positive and enthusiastic about the refreshed dining and shopping experience” (a statement which, you’ll notice, pointedly does not say anything about feedback regarding the logo specifically), and attributing the backlash to a “vocal minority.”

However, by Tuesday, shortly after President Trump’s post, the company changed its tune. “We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have,” the company said. “Our new logo is going away and our ‘Old Timer’ will remain.” The new logo has been removed from the company’s website.

Does it matter for the stock?

If you believe that any publicity is good publicity, this ruckus might result in some short-term positives for the company. Cracker Barrel’s name has been in the news (and, more importantly, in the zeitgeist) for a week now, and it’s even making me hungry for hash brown casserole. Many people are praising management for its ultimate decision. This could be a golden opportunity for the company, as Trump suggested in his Truth Social post, writing: “They got a Billion Dollars worth of free publicity if they play their cards right. Very tricky to do, but a great opportunity.”

Image source: Getty Images.

That publicity might increase foot traffic to Cracker Barrel’s stores in the short term, which would be a welcome boost for the company. In its most recent quarter, same-store restaurant sales increased by just 1%, while same-store retail sales declined 3.8%. Overall, revenue has been stagnant since the pandemic lockdown reopenings, only up 5.7% since 2022. Net income has slipped by more than 50% and profit margins have declined to just 1.7%.

Those metrics aren’t just bad, they’re worse than most of its peer companies, including Brinker International (EAT -3.52%), which owns Chili’s and Maggiano’s; and Darden Restaurants (DRI 0.14%), which owns Olive Garden and Cheddar’s, among many others. Perhaps the problem is the breakfast: Dine Brands (DIN 1.15%), which owns IHOP and Applebee’s, has struggled with a similar drop in profits, but even Dine’s profit margin is above 5%.

In short, it will take more than the publicity surrounding this logo controversy to fuel a long-term turnaround at Cracker Barrel. According to CEO Julie Felss Masino, the company is “in the middle of a three-year transformation” that’s expected to cost $700 million and include changes to the company’s advertising, menus, and store layouts. If this is how well things are going, investors will face a long and rocky road, no matter what Cracker Barrel’s logo ends up looking like.

THOUSANDS were left without power after Hurricane Erin battered the Caribbean and hurtled towards the US – with the storm still expected to strengthen.

The hurricane, which is now category 3, brought heavy rainfall and vicious winds to Puerto Rico and the Virgin Islands on Sunday, cutting power for some 100,000 locals.

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Luma Energy, Puerto Rico’s private power grid operator, revealed that most of its customers on the island had working electricity by Sunday afternoon.

The operator said on X: “As of 5:00 p.m., 92.5% of customers have electrical service.

“The majority of affected customers are concentrated in the regions of Arecibo, Caguas, and San Juan, as the rain bands have been moving out of Puerto Rico.”

They added: “Our crews are working with precision to ensure safety and continuity of service.”

The storm caused “multiple interruptions across the island”, the company said earlier.

Hurricane Erin also saw two divers swept amid powerful waves near St. Croix in the US Virgin Islands.

They had to be rescued by local crews on Sunday, authorities announced.

Shocking footage showed taken by St. Croix Rescue Chief Jason Henry showed the divers being dramatically hauled over onto a boat.

On the island of Sint Maarten, footage showed palm trees swaying in violent winds.

Its local government said cleanup crews were clearing debris since Sunday morning.

A large amount of Sargassum seaweed also reached the shore – which could contain harmful toxins poisonous to people and marine life.

Erin has been labelled category 3 after multiple fluctuations in the last several days.

On Saturday it was considered to be a catastrophic category 5 hurricane.

Outer bands are continuing to sweep over Puerto Rico and the Virgin Islands, pummelling coasts with heavy rain and strong winds.

Rainfall was recorded between two and four inches.

Up to six inches is likely to fall in some areas.

Fears are mounting that this could lead to flash flooding or mudslides.

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As of 5pm local time on Sunday, Erin was 275 miles north-northwest of San Juan, Puerto Rico.

It had maximum sustained winds of 125mph, and is reportedly currently moving west.

Puerto Rico Governor Jenniffer González-Colón warned residents to stay home if possible.

There are no reports of flooding on the island so far – but the worst weather is expected to impact the region within the next six hours, officials said.

Terrifying footage on X also showed heavy rain falling in Cidra in central Puerto Rico on Sunday.

The hurricane is expected to strengthen in the next two days before taking a north-ward turn on Monday and Tuesday.

The storm is then forecast to gradually weaken through the middle and latter half of next week as it passes between the US and Bermuda.

Tropical storm warnings have been issued in Turks and Caicos and the southeast Bahamas, according to authorities.

In Sierra Bayamón, Puerto Rico, a suspension insulator broke and a conductor fell to the ground because of the stormy weather.

Luma Energy also advised the public to avoid walking or driving through flooded areas, especially near downed power lines.

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