USA: Krispy Kreme sees 54.9% increase in Q1 net income
Winston-Salem, North Carolina-based fastfood chain Krispy Kreme Doughnuts has posted net income of US$8.9m for its Q1 (fiscal 2003) ended 5 May 2002, up 54.9% from US$5.7m year on year. Diluted earnings per share increased to US$0.15 in the Q1, from US$0.10 for the Q1 2002. Systemwide sales, including sales of company and franchise stores, increased 30.4% to US$183.1m in the Q1, from US$140.4m in the Q1 2002. Sales were driven by an increase in company store sales of 22.2% to US$74.2m and an increase in franchise store sales of 36.7% to US$108.9m. On a comparable store basis, systemwide store sales increased 12.9% and company store sales were up 10.5%.
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