Originally published at www.seclive.com
Filing in Focus: Krispy Kreme 8-K, December 2, 2013
Krispy Kreme Doughnuts, Inc. (KKD) announced its third fiscal quarter results for the 2013 fiscal year, reporting increases in revenue and earnings. The doughnut-maker posted a 7% increase in revenue, from $107.1M to $114.2M, while comparable-store sales at company-owned locations increased 3.7% due primarily to price increases. Earnings jumped from $5M and $0.07 per share a year ago to $6.8M and $0.09 per share. For the next fiscal year, the company intends to open 85 international franchises, 20 to 25 U.S. franchises, and 10 to 15 new company stores. Krispy Kreme increased the lower end of its earnings guidance by $0.01 to a new range of $0.60 to $0.63 per share. CEO James Morgan commented that the company's sales continue to improve despite a negative consumer spending environment.
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