Cracker Barrel Old Country Store’s shares dropped approximately 10% on Thursday following the reveal of a new logo earlier this week, part of a broader brand refresh.
The updated logo eliminates the iconic image of a man leaning against a barrel, featuring only the words “Cracker Barrel” on a yellow background and removing the “Old Country Store” phrase. The company stated that the logo’s colors draw inspiration from its scrambled eggs and biscuits.
This change aligns with a “strategic transformation” launched in May 2024 to revitalize the brand, encompassing updates to visual elements, restaurant interiors, and food and retail offerings.
In March, Cracker Barrel announced a brand refresh that aims to preserve its “rich history of country hospitality” and “authentic charm,” according to Chief Marketing Officer Sarah Moore. She emphasized in a media release that the company’s core values and story remain unchanged, rooted in the spirit of country hospitality.
However, the new logo has sparked backlash, particularly among conservative social media users.
On Wednesday, Donald Trump Jr. shared a post claiming that CEO Julie Felss Masino’s logo change was an attempt to dilute the brand’s American tradition in favor of diversity, equity, and inclusion initiatives. Masino turned heads in May when she told investors, "We're just not as relevant as we once were."
In recent years, Cracker Barrel has launched recruitment efforts for racially and ethnically diverse talent, and has publicly supported the NAACP and LGBTQ+ people. That itself was a 180-degree turn from its '90s policies, when it reportedly discriminated against LGBTQ+ applicants and fired those already employed at the chain.
However, the new logo has sparked backlash, particularly among conservative social media users.
Conservative activist Robby Starbuck echoed this sentiment on Thursday, posting on X, “Good morning @CrackerBarrel! You’re about to learn that wokeness really doesn’t pay.”
With a market cap of approximately $1.2 billion, Cracker Barrel is smaller than many competing restaurant chains. Customers have also expressed dissatisfaction on social media about the redesigned interiors, criticizing the shift toward a modern, sterile aesthetic over the traditional country ambiance.
During the June earnings call, Masino reported that 20 remodels and 20 refreshes had been completed, with plans to share more details in September. She noted positive feedback from employees and guests, describing the updated stores as “lighter, brighter, more welcoming.”