US: Krispy Kreme sees Q2 net loss
Doughnut maker Krispy Kreme said it expects to report a net loss for the second quarter as results continue to be adversely affected by legal and regulatory costs.
The company's announcement said it expects revenues for the quarter to drop from US$140m last year to $110m this year. Systemwide, sales tumbled about 15%, the company said
Despite the lacklustre figures, CEO Daryl Brewster said Krispy Kreme was making progress. "In the United States, we saw signs of stability in company stores as evidenced by average weekly sales trends," he said. "We also advanced our international expansion plans with the signing of franchisees in six new markets."
The company also said it would once again miss a deadline to file a report with the US Securities and Exchange Commission as it struggles with a restatement of past results.
The doughnut maker said in an SEC filing that it is unable to finalise its financial report for the fiscal second quarter that ended 30 July 2006, until it has completed its reports for fiscal 2006, the third quarter of fiscal 2005, and the first quarter of fiscal 2007.
US doughnut maker Krispy Kreme has reported a sales fall of 9.3% in its third quarter. The company told the Securities and Exchange Commission that it expected to report revenue in the region of US$11...
North Carolina-based Krispy Kreme Doughnuts has announced today that it has given development rights for Indonesia to PT Premier Doughnut Indonesia....
Krispy Kreme Doughnuts has reported a preliminary revenue slump from approximately US$153m to $116m for the first quarter of its present 2007 financial year....
North Carolina-based bakery group Dewey's Bakery has announced that Scott Livengood, the former president and CEO of Krispy Kreme Doughnuts, has acquired a 50% stake in the privately-owned company....
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