Black Coral Research
Mar. 12, 2014, 4:37 PM
- 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
Feb. 7, 2014, 10:11 AM| Feb. 7, 2014, 10:11 AM | 1 Comment
Dec. 3, 2013, 12:46 PM
Dec. 2, 2013, 5:44 PM
Dec. 2, 2013, 4:22 PM
- Krispy Kreme (KKD) shares fall 8.6% in AH trading on the back of a one cent EPS beat and miss on the top line in FQ3. The results and subsequent reaction appear thus far to be a deja vu of FQ2, when investors who had priced shares to perfection sent them plunging following a mixed quarter.
- Comparable same store sales rose 3.7% Y/Y, the 12th consecutive quarterly increase, driven "principally by retail price increases."
- Domestic franchise revenue grew 20% to $3M, driven by higher royalties; international franchise revenue was up 3% to $6.2M for the same reason.
- Management bumped its FY2014 EPS range to $0.60-$0.63 from $0.59-$0.63 (vs. analyst consensus of $0.63). FY2015 EPS is seen at $0.71-$0.76 (below consensus of $0.77). KKD expects to open 10-15 company stores, 20-25 domestic franchises, and ~85 international franchises in FY2015.
- Conference call at 4:30 pm ET, PR
Dec. 2, 2013, 4:07 PM
- Krispy Kreme (KKD): FQ3 EPS of $0.16 beats by $0.01.
- Revenue of $114.2M (+6.7% Y/Y) misses by $3.47M. Shares -10.18% AH. (PR)
Oct. 4, 2013, 10:27 AM
- Shares of Krispy Kreme Doughnuts (KKD +4.3%) are now up a double-digit percentage over the last two days without any concrete news of note.
- Unless there is some strong correlation between government workers being idled and doughnut consumption, the best bet is that Krispy Kreme may be working its way back into a status as a momentum favorite with traders.
Aug. 30, 2013, 12:45 PM
Aug. 30, 2013, 9:11 AM
Aug. 30, 2013, 8:26 AM
- Krispy Kreme (KKD) execs didn't seem panicked about missing estimates slightly in Q2 as they pointed to the impact of refranchising, a smaller store format, and a strong comp from last year during the firm's conference call.
- Looking ahead, the early report on comparable store sales for Q3 is "choppy" at best. The first three weeks of August average a 5.7% Y/Y gain in comp sales, ranging from a week of a 12% gain to a flat week.
- Earnings call transcript
- KKD -13.5% premarket.
Aug. 29, 2013, 5:31 PM
Aug. 29, 2013, 4:37 PM
- Shares of Krispy Kreme (KKD) aren't looking too sweet after hours, falling 11% as merely affirming EPS guidance is apparently no longer sufficient to keep the market happy — especially when you come up two pennies short of consensus on the bottom line. (Q2 results)
- Same-store sales jump 10% for the quarter, the nineteenth straight time comps have been positive. "Our dramatic same store sales gain was driven primarily through higher traffic counts as customers found more reasons to treat themselves to our unique products," CEO James Morgan says.
- Revenue and adjusted net income rise 10.4% and 17.2% respectively in Q2.
- FY14 outlook: EPS of $0.59-0.63 against consensus of $0.64. (PR)
Aug. 29, 2013, 4:12 PM
- Krispy Kreme (KKD): Q2 EPS of $0.14 misses by $0.02.
- Revenue of $112.7M (+10.4% Y/Y) beats by $1.34M. Shares -9.21% AH. (PR)
Aug. 28, 2013, 11:25 AM| Aug. 28, 2013, 11:25 AM
Jun. 18, 2013, 2:09 PM
Sweet! Longbow raises its price target on shares of Krispy Kreme (KKD +4.2%) to $23 from $20, representing a 35% upside from Monday's close. Channel checks reportedly suggest franchise comps growth may come in at 8.2% for Q2. Meanwhile, SA contributor Sean Weston says international franchise numbers "are not in the midst of an attractive trend."| Jun. 18, 2013, 2:09 PM | 1 Comment
May 31, 2013, 12:57 PM