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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Krispy Kreme Cuts Earnings Outlook 0 comments
    Jun 3, 2014 10:23 AM | about stocks: KKD

    Originally published at

    Filing in Focus: Krispy Kreme 8-K, June 2, 2014

    Krispy Kreme Doughnuts, Inc. (NYSE:KKD) announced its financial results for the first quarter of fiscal year 2015, cutting its earnings outlook for the full fiscal year. The company reported a 0.79% increase in revenue to $121.6M, falling short of analyst predictions of $126.7M, while same-store sales dropped 1.5%. Earnings increased from the year-ago $7.99M and $0.11 per share to $9.65M and $0.14 per share, while adjusted earnings per share of $0.23 met expectations. Last month Krispy Kreme appointed Anthony Thompson, former Papa John's International Inc head, its new CEO. Faced with lower-than-expected revenue, technology upgrade costs, and recent changes in management, the company lowered its earnings forecast from the previously stated $0.73 to $0.79 per share range to between $0.69 and $0.74 per share.

    (click to enlarge)

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: KKD
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