'Go woke, Go Broke' claims a new victim: Cracker Barrel's new logo generates losses in identity and millions of dollars in market value

Cracker Barrel's new logo generated controversy. The company saw its market value drop by nearly $100 million after its shares fell. In addition, the design also sparked debate over whether the company has a tendency toward 'woke' ideology.

The redesign replaces the classic image of a man in overalls leaning over a barrel with a more minimalist logo that only shows the brand name.

According to CBS, Cracker Barrel shares fell $4.22, or 7.2%, to $54.80 in Thursday's trading session. Thus, according to the data, the company lost $94 million of its market value.

Meanwhile, the company explained that the man and the barrel in the old logo represented "the old country store experience where people gathered and shared stories."

Similarly, the company told CBS that the old logo will remain on its restaurants and menus. "Our values haven't changed, and the heart and soul of Cracker Barrel haven't changed," the company said in a brief statement.

It was learned that Cracker Barrel's strategy is overseen by CEO Julie Felss Masino. Last year she said the company was "less relevant than before" and announced plans to update its menu. On social media, Felss' political stance has been questioned.

Conservative voices criticized the decision and noted that the company might be pushing progressive ideas. One of the critics was Congressman Byron Donalds, who recounted that as a younger man he was a worker at Cracker Barrel in Tallahassee. He argued that it's time for the chain to "Make Cracker Barrel Great Again."

"In college, I worked at @CrackerBarrel in Tallahassee. I even gave my life to Christ in their parking lot. Their logo was iconic and their unique restaurants were a fixture of American culture. No one asked for this woke rebrand," Donalds wrote on his X account.

For his part, Donald Trump Jr. also wrote with surprise after the announcement of the new logo. "WTF is wrong with @CrackerBarrel ??!" he noted in a post.

Conservative country musician John Rich recalled what happened with Bud Light and commented that this could be a similar moment:

"Will you go to Cracker Barrel now that it's going woke? This could be a "Bud Light" moment in the making...," Rich wrote on X.

And that's because even Democrats showed their displeasure with the company's new logo. "We think the Cracker Barrel rebrand sucks too," said a post on the Democratic Party account.

Alex Bruesewitz, an adviser to President Trump, compared Cracker Barrel's decision to Sydney Sweeney's controversial campaign. He also criticized the company's CEO:

"She is destroying a once great American brand," Bruesewitz said.

Matt Walsh of the Daily Wire claimed that Cracker Barrel allegedly hired three marketing agencies to design the new logo.

"Three agencies collaborated for months to make their brand more generic. Like I said, the marketing industry is completely fake. It’s a 500 billion dollar scam," Walsh said.