Krispy Kreme loss widens

Krispy Kreme loss widens
Tags: Coffee/Bakery/Donut, Food & Beverage, Franchising & Growth, Operations Management
June 3, 2007

WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts Inc. reported a net loss of $7.4 million for the company's fiscal 2008 first quarter ended April 29, compared with a net loss of $6 million for the same period last year.

The loss includes a $9.6 million charge related to long-term debt refinanced during the quarter. Impairment charges and lease termination costs totaled $12.7 for the quarter.

Revenues for the quarter fell to $110.9 million, down 7 percent from revenues of $119.4 million in the first quarter of fiscal 2007.

Thirteen Krispy Kreme locations opened during the quarter and four stores closed. This brings the total number of Krispy Kreme stores to 404.