Shares of Cracker Barrel Old Country Store plummeted roughly 10% on Thursday after the restaurant unveiled its new logo earlier this week as part of a larger brand refresh.

CEO Julie Felss Masino defends Cracker Barrel's controversial rebranding efforts amid widespread social media criticism calling the changes generic

"The reason Jerry West is the logo for the NBA is because he embodied the qualities we admire in our best athletes: skills as a player, dedication as a teammate, and integrity as a person. He was my coach, and my advisor, but mostly he was my friend," Abdul-Jabbar wrote on X.

At the heart of the changes was the removal of a man leaning against a barrel and the phrase "old country store" from the restaurant's logo, CNBC's Ali McCadden reports. Right-wing social media voices railed against the update, with one prominent conservative activist saying that the company would "learn that wokeness really doesn't pay."

Steak 'n Shake criticized Cracker Barrel's new logo change, accusing the restaurant chain of abandoning its heritage by removing its "old-timer" character.

According to NBC News, a spokeswoman from Notre Dame said that the creation of the new logo started in 2024.