You have to wonder what possessed Cracker Barrel to support Pride Month. Few, if any, hipster types or country club denizens patronize their restaurants. What was management thinking?They were probably forced into it by institutional investors. Blackrock and Vanguard are the largest stockholders.
Basically, Cracker Barrel didn't have a choice.
I believe you are right about Blackrock and Vanguard, as the two investment firms owning 27% of the restaurant chain. Cracker Barrel may be even more vulnerable than Bud Light, as the client base is very much in flyover country, especially in the South. Restaurants operate on small margins, except for alcohol, and Cracker Barrel does not sell much alcohol.
There is a minority of leftists in small town America. Even very red counties in places like the Texas and Oklahoma Panhandles have a minority, 8-20%, who vote for Democrats. The restaurants tend to be near Interstates or other major highways. But Cracker Barrel cannot survive on the liberal minority to survive.