US doughnut maker and retailer Krispy Kreme has said the low-carbohydrate diet phenomenon that affected its first-quarter results does not seem to have changed much since.
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“We have not seen any reason to believe that the dynamics have improved from what we discussed in the first quarter,” chief financial officer Michael Phalen was quoted by Dow Jones News as saying.
The company posted a first-quarter loss and cut back on its expansion plans earlier this year as its sales were dented by the popularity of low-carbohydrate diets.
Chief operating officer John Tate said the company had not introduced enough new products to drive sales at a time when the popularity of low-carb diets was really taking off. However, the company plans to redress that problem by introducing several new products this year, including bite-sized doughnuts, sugar-free doughnuts and chocolate-glazed doughnuts. Krispy Kreme recently introduced a line of frozen beverages at its stores.
Phalen said the company is pleased with the performance of its stores in Australia, Canada, Mexico and the UK, reported Dow Jones News.
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