Cracker Barrel changed its logo this week, drawing criticism and causing a decline in its stock value.
Longtime customers of the restaurant chain, which specializes in Southern comfort food, from across the political spectrum expressed their unhappiness about the new logo on social media and news programs.
In an apparent reaction to the backlash, investors began selling Cracker Barrel stock. Its shares fell nearly 13% on Thursday morning before rebounding a few points by midafternoon, according to Restaurant Business, an industry website.
There is only one Cracker Barrel location in the Mahoning and Shenango valleys: on Interstate Boulevard in Austintown. It is in an area of motels, restaurants, truck stops and gas stations just off the state Route 46 exit of Interstate 80.
The logo change was the first in 48 years for the company. It simplifies the chain’s former emblem, which featured an illustration of a man and a barrel next to the words “Cracker Barrel Old Country Store.”
The update eliminates the man, the barrel and the “Old Country Store” verbiage. The “Cracker Barrel” word mark remains in dark brown, framed by a gold hexagon.
Conservative critics suggested that the removal of the man and other old-fashioned iconography is an attempt by the family-dining chain to promote diversity, equity and inclusion (DEI) and move away from its Americana roots.
In a statement to Restaurant Business, Cracker Barrel said its values haven’t changed, and that Uncle Herschel – the man depicted in the old logo – remains visible in each location and on the menu.
The Lebanon, Tenn.-based roadside chain has historically been known for its comfort food, homey atmosphere and gift shops. The new logo is part of a modernization effort by CEO Julie Felss Masino.
The three-year, $700 million initiative includes a new restaurant design as well as menu and operational changes and a more social media-centric marketing strategy. The goal is to improve traffic and sales at the 660-unit chain by appealing to younger consumers while retaining its appeal to longtime fans.