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Krispy Kreme loss tops $67 million
April 16, 2008
WINSTON-SALEM, N.C. — Comparable-store sales at company-owned Krispy Kreme Doughnuts locations increased 1.6 percent for the company's fourth quarter ended Feb. 3, and were flat for the fiscal year. Systemwide comparable-store sales fell 4.7 percent for the fourth quarter and 3.8 percent for the year.
The 2008 fourth quarter and fiscal year contained 14 weeks and 53 weeks, respectively, compared with 13 weeks and 52 weeks, respectively, for the 2007 fourth quarter and fiscal year.
Revenues for the fourth quarter fell slightly to $110.9 million, down from $112.2 million reported in Q4 '07. Excluding revenues for the 14th week, revenues for the fourth quarter fell 8 percent to $102.9 million.
Full-year revenues fell 7 percent to $429.3 million, down from $461.2 million in FY '07. Excluding revenues for the 53rd week, revenues for FY '08 fell 9 percent to $421.3 million.
Krispy Kreme lost $31.8 million in the fourth quarter compared with a loss of $24.4 million for the 2007 fourth quarter. The company lost $67.1 million for the year, compared with a loss of $42.2 million for 2007.
Thirty-two new Krispy Kreme stores opened during the fourth quarter, and 6 stores were closed. The total number of stores systemwide at the end of fiscal 2008 was 449. Approximately 75 percent of these stores are operated by franchisees, and almost half are located outside the United States.
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