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JUST IN: Cracker Barrel Stock Plummets After Controversial Rebrand

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4 months ago

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Cracker Barrel is in hot water with both Wall Street and its loyal customers after rolling out a sweeping rebrand that’s rattled investors and outraged longtime fans. On August 21, the company rolled out a new logo and modernized interior design under its “All the More” campaign.

But rather than boosting enthusiasm, the changes have sparked widespread backlash and a stunning drop in share price. The rebrand included the removal of Cracker Barrel’s beloved “Uncle Herschel” logo—an image of a man sitting on a barrel that had become a signature of the company since 1977.

In its place, the company introduced a minimalistic design: simple gold text on a plain background, stripped of its nostalgic character. Cracker Barrel also announced plans to remodel its restaurants, phasing out their signature country-store décor—complete with trinkets, dark wood, and front-porch rocking chairs—in favor of brighter, sleeker aesthetics.

The market reaction was swift and brutal. Shares plunged more than 14% at one point, wiping out nearly $200 million in market value before a modest recovery left stock prices down around 13.9% at $50.84 per share. Major outlets, including CBS and CNN, reported drops ranging from 8% to 15% depending on the time of day. Wall Street watchers were stunned.

Julie Felss Masino, who took over as Cracker Barrel’s CEO in November 2023, has been the architect of the rebranding push. She insists the company isn’t turning its back on its roots, but rather “evolving” to meet the expectations of modern diners.

But not everyone is convinced. The rebrand has prompted an uproar on social media and drawn sharp criticism from conservative voices, who see the move as yet another corporate attempt to erase traditional American culture. The chain became a trending topic on X, with over half a million posts, many calling the redesign “soulless,” “sterile,” and “woke.”

Donald Trump Jr. voiced his disapproval in blunt terms: “WTF is wrong with @CrackerBarrel??!” he posted on X. Others followed suit, drawing comparisons to the boycotts faced by Bud Light and Target in recent years.

Despite the backlash, Cracker Barrel chief marketing officer Sarah Moore has defended the rebrand. “This is also centered on making our stores easier to operate,” Moore said back in May.

“We have 70,000 incredible team members,” she added. “They’re the ones [who] make the magic every single day – and creating an experience that makes it easier for them to navigate, for them to clean both front of house and back of house, is also part of this physical store expansion.”

Moore further defended the changes in a statement to Fox News, claiming that they were implemented at the behest of customers. The chief executive said she has been “listening to what the guests ask for – and examples of what the guests asked for are things like spaces that feel brighter, that feel less cluttered, more booth seating, more seating options, so our guests are more comfortable while they’re dining with us.”

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