Cracker Barrel lost approximately $94 million in market value in a single day after unveiling a new logo that drew fierce criticism from supporters of President Donald Trump. The Southern-themed restaurant chain's stock fell 7.15 percent on Thursday, closing at $54.80 per share, after hitting a midday low of about 15 percent down.
The rebrand replaced the iconic logo featuring a seated man in overalls leaning on a barrel with a simpler design showing only the words 'Cracker Barrel' on a gold background. Critics on the right accused the company of adopting a 'woke' aesthetic as part of diversity, equity and inclusion initiatives.
Florida Congressman Byron Donalds, a former Cracker Barrel employee, wrote on X: 'Their logo was iconic and their unique restaurants were a fixture of American culture. No one asked for this woke rebrand. It's time to Make Cracker Barrel Great Again.' Donald Trump Jr. also criticised the move, questioning the company's leadership.
Cracker Barrel defended the redesign, stating it is 'now rooted even more closely to the iconic barrel shape and word mark that started it all.' The chain, founded in 1969, has undergone five logo changes, with the previous seated-man design dating back to 1977.
The backlash highlights ongoing tensions between traditional brands and politically charged consumer reactions. Despite the stock's partial recovery from its intraday low, the episode underscores the financial risks of rebranding in a polarised climate.
