- Though it missed FQ4 estimates, Krispy Kreme (KKD) is guiding for FY15 (ends Jan. '15) EPS of $0.73-$0.79 vs. a $0.76 consensus.
- The company also forecasts a 10% FY15 store count increase (driven heavily by international franchisee openings), says it aims to "achieve modest organic same store sales growth in its Company shops." A majority of new domestic shops will leverage the company's new free-standing factory shop format.
- Krispy Kreme is upping the size of its buyback authorization by $30M to $80M. $50M is remaining following $9.3M worth of buybacks in FQ4.
- Same-store sales rose 1.6% Y/Y in FQ4 at company stores, down from 3.7% in FQ3. Domestic franchise same-store sales +6.2% vs. +10.7%, international franchisees -3.4% vs. -3.1%. Krispy Kreme blames the international drop on "honeymoon effects" for new store openings, and "cannibalization as markets develop."
- Company stores revenue -9% Y/Y to $74.3M, external supply chain revenue +5% to $28.4M. Franchise revenue rose slightly to $10M.
- Krispy Kreme plans to change its same-store sales methodology. Stores will only be counted after 18 months of operation, up from a current 13.
- FQ4 results, PR
From other sites
at CNBC.com (Mar 11, 2015)
at CNBC.com (Feb 17, 2015)
at CNBC.com (Dec 10, 2014)
at CNBC.com (Dec 9, 2014)
at CNBC.com (Nov 1, 2014)
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