In June of 2023 Cracker Barrel went woke, deciding that it could bring in new customers and investors by sexualizing the front porch with rainbow-striped rocking chairs. 

As it turned out, that was not a good marketing strategy, and it had the effect of repulsing existing customers who don’t want country cooking to be sexualized, be it gay, straight, or otherwise.
The customer backlash was immediate and devastating, as business in June and July 2023 plummeted.
It kept getting worse, and Cracker Barrel’s CEO Sandy Cochran stepped down from her position before year’s end.
In a Wall Street Journal article last week, it states that the new CEO, Julie Masino, is seeking “to update its image, menu and retail selection to be able to grow in an increasingly tough environment for restaurants.”
No, the first thing Cracker Barrel needs to do is apologize for insulting its loyal customers by sexualizing the restaurant and for effectively smearing its loyal customers as being “unwelcoming” people.
The fallout was immediate, with consumers announcing boycotts and the stock price taking an initial hit. Despite a lack of headlines or buzz since then, the boycott has continued and has been devastating to Cracker Barrel. The restaurant chain permanently ran off a great many loyal customers, and the persistently “unexpected” decline in traffic is taking a serious financial toll on the company.

It was just announced this week that Cracker barrel is slashing its dividend by 81%. Cracker Barrel stock has fallen from $102 per share at the start of “Pride Month” 2023 to $49 per share now, a 52% decline.