Krispy Kreme Doughnuts, Inc. (Nasdaq: KREM) announced yesterday that its common stock will begin trading on the New York Stock Exchange (NYSE) under the new ticker symbol “KK” on Thursday, May 17, 2001. To mark the company’s first day of trading, Scott Livengood, Chairman, President and CEO, will ring the opening bell at the NYSE on May 17.
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“Our listing on the NYSE marks another important milestone for Krispy Kreme. As stewards of this unique brand, we feel this is a strategic move. We are very excited about Krispy Kreme being represented on the NYSE with other leading consumer brands. Going forward, we remain committed to building shareholder value by focusing on the clearly defined strategy of opening stores in new markets, establishing strong relationships with our customers and communities, and gaining greater market penetration through multiple channels of sales,” said Mr. Livengood.
“Krispy Kreme has created the recipe for success by satisfying its millions of customers,” said NYSE Chairman and CEO Richard A. Grasso. “As a leading branded specialty retailer that has been serving outrageously delicious doughnuts since 1937, Krispy Kreme will be an outstanding addition to the family of NYSE-listed companies.”
Krispy Kreme has been listed on the Nasdaq National Market under the ticker “KREM” since its initial public offering on April 5, 2000. Concurrent with the NYSE listing, the company’s shares will no longer be traded on Nasdaq. “Nasdaq has been very good to Krispy Kreme. I wish to thank Nasdaq for its support and high quality of service,” added Mr. Livengood.
The 63-year-old North Carolina-based company is a leading branded specialty retailer of premium quality doughnuts, including the company’s signature Hot Original Glazed. Krispy Kreme currently operates 177 stores in 28 states.
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By GlobalDataKrispy Kreme can be found on the World Wide Web at www.krispykreme.com.
Information contained in this press release, other than historical information, may be considered forward-looking in nature and is subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on Krispy Kreme’s operating results, performance or financial condition are its dependence on franchisees to execute its store expansion strategy, supply issues, competition and numerous other factors discussed in Krispy Kreme’s periodic reports, proxy statement and other information statements filed with the Securities and Exchange Commission.
