Cracker Barrel’s first rebrand in nearly 50 years backfired. The company’s stock lost nearly $100 million after introducing a more minimalist look

Cracker Barrel—one of the most iconic restaurant chains in America, deeply rooted in Southern food and hospitality—this week revealed a new look. 

A tweak to the logo removes the man sitting on a chair and leaning on a barrel, and the font appears to have slightly changed. 

And some people are absolutely outraged, with many going as far to say its new, simplified logo is a signal of Cracker Barrel going woke. 

“Cracker Barrel didn’t just lose its logo. It lost its soul,” wrote an X user called @DesireeAmerica4, whose bio section reads: “Unapologetically America First. Igniting debate. Standing tall for the everyday American.”

“This isn’t modernization. It’s extermination of Americana, of warmth, of memory,” she continued. “Congratulations, Cracker Barrel. You’re now Woke Barrel. Nobody asked for this.”

Cracker Barrel lost nearly $100 million in value in trading on Thursday. The stock slightly rebounded Friday, up about 0.25% in the late afternoon.

Cracker Barrel didn’t immediately respond to Fortune’s request for comment. 

The new logo is all part of CEO Julie Felss Masino’s turnaround plan for the restaurant. She said last year the chain wasn’t “as relevant as we once were,” and announced plans to update its menu and eateries. The new logo is “now rooted even more closely to the iconic barrel shape and word mark that started it all,” according to the company. 

“On the surface, it’s a modest refresh. But when a brand is built on tradition, even a small design change can feel like a cultural shift,” Evan Nierman, founder and CEO at crisis communications firm Red Banyan, told Fortune. “It touched a nerve because it challenged what some customers felt was sacred about Cracker Barrel.”

Is the Cracker Barrel rebrand really that big of a deal?

Cracker Barrel’s rebrand has really struck a chord with some people, particularly those who subscribe to a MAGA-leaning lifestyle. They argue it rids the brand of its deep Southern heritage and that the brand has become too sterile. 

One TikTok user satirically said in regards to the new Cracker Barrel logo: “I don’t want this woke crap. What DEI hire made this logo?”

Steak N’ Shake even chimed in on the logo change and reshared the X post from @DesireeAmerica4 with a comment in a style mimicking President Donald Trump’s Truth Social posts: “Fire the CEO! Thank you for your attention to this matter!” 

While Cracker Barrel “took a stab at modernizing and showing cultural relevance,” Mary Delano, chief marketing officer at ad agency Moosylvania, told Fortune, it lost its old-fashioned identity. 

“This could potentially offend the restaurant’s core fans, who see the chain’s rocking chairs, comfort food and nostalgia as the elements that make Cracker Barrel feel like that home away from home,” said Delano, who’s helped bring iconic brands like Pink Whitney to market.

Although the new logo was “more of a tweak than a total overhaul,” said Tenyse Williams, digital marketing adjunct instructor at George Washington University and the University of Central Florida, it feels bigger because of the political climate we’re in.

“Cracker Barrel is nostalgia for many, especially customers in the South and Midwest who feel ownership and pride over the brand,” Williams told Fortune. “For a brand that hasn’t changed its logo since 1977, even small changes to a symbol so tied to Americana can feel magnified.”

Nierman argued, however, Cracker Barrel’s new logo doesn’t erase its legacy. Rather it softens its image. 

“Cracker Barrel has long leaned into a version of Americana that felt frozen in time,” he said. “This update suggests the brand is finally acknowledging that the world around it is changing, and it wants to be part of that future.”