Cracker Barrel Stock Plummets 14% Amid Brand Overhaul Backlash, CEO Faces Continued Scrutiny

Conservative activist Robby Starbuck intensified his criticism of Cracker Barrel CEO Julie Felss Masino on Tuesday, stating on social media, > "Julie Masino would be wise to call me today but I don’t think she’s particularly wise. We’re not even close to done here. So much more coming." This tweet follows significant public and financial backlash against the restaurant chain's recent rebranding initiatives, which included a new logo and modernized store aesthetics.

The controversy centers on Cracker Barrel's strategic shift under CEO Julie Felss Masino, who took the helm in November 2023. The company introduced a new text-only logo, removing the long-standing "Uncle Herschel" figure, as part of a broader $700 million modernization plan aimed at attracting younger demographics. This move, however, alienated a significant portion of its traditional customer base, who viewed it as a departure from the brand's nostalgic, country-store identity.

The market reacted swiftly, with Cracker Barrel's shares plummeting over 14% in a single day, erasing approximately $250 million in market value. Critics, including Starbuck, accused the company of embracing "woke" policies, pointing to its diversity, equity, and inclusion (DEI) initiatives and past associations with LGBTQ+ organizations. Starbuck previously stated on X, "Note to restaurant CEO’s like Cracker Barrel CEO Julie Felss Masino — People don’t want LGBTQ food, they don’t want democrat food, they don’t want republican food, THEY JUST WANT GOOD FOOD AND SERVICE and they don’t want to fund values they deeply oppose."

In response to the mounting pressure, Cracker Barrel announced on Tuesday, August 26, that it would revert to its iconic old logo. The company stated, "We said we would listen, and we have. Our new logo is going away and our ‘Old Timer’ will remain." Despite this partial reversal, the tweet from Starbuck suggests that the conservative activist believes further accountability or changes are still necessary.

Julie Felss Masino, formerly of Taco Bell and Mattel, has defended the changes as essential for the company's long-term relevance. However, the ongoing public outcry and financial impact underscore the challenges companies face in balancing modernization with preserving core brand identity and customer loyalty in a polarized consumer landscape. The future direction of Cracker Barrel and Masino's leadership remains under close observation amidst these developments.