InfoAnda - Krispy Kreme Q1 Profit Doubles, Same Store Sales Rise

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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles Krispy Kreme Q1 Profit Doubles, Same Store Sales Rise Email Facebook Digg Twitter Buzz Up! ShareThis June 3, 2010 4:37 p.m. EST Topics: earnings, company information, economy, business and finance, United States Mitchell Jaworski - AHN News Reporter Winston-Salem, NC, United States (AHN) - Krispy Kreme announced Thursday that first quarter earnings more than doubled as expenses remained in check and same-store sales grew for the sixth straight quarter. The doughnut chain said first quarter earnings were $4.5 million or 6 cents a share, up from $1.9 million or 3 cents a share. Total revenue decreased 1.4 percent to $92.1 million in the first quarter. However, Krispy Kreme said excluding the impact of refranchising some company stores, revenue grew 0.4 percent. Revenue was helped in the period by a 3.4 percent rise in same-store sales at company owned locations. “We were pleased with the improvement in our first quarter performance, which included healthy company same store sales growth and improvements in both consolidated operating income and net income compared to the year-ago period,” said president and CEO Jim Morgan. Operating expenses remained flat in the first quarter at $77 million, helped by a $500,000 decrease in general and administrative costs. Krispy Kreme said it expects fiscal 2011 operating income to be $11 million to $15 million, excluding impairment charges and lease termination costs. This is up from earlier guidance of $10 million to $13 million. Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Most Popular Stories Mars Trip Simulation To Lock Up 6 Men In Mock Spaceship For 18 Months Somali Forces Free Panama-Flagged Ship Lady Gaga Breaks Up With Creative Director Beau Mountain West Plans To Invite Boise State For 2011 Ice Box Made Early Favorite For Belmont Stakes Speidi Laughing Over Fake Breakup Story Tiger, Mickelson Dominate Memorial Skins Game Pocahontas Actress Q'orianka Kilcher Arrested Over White House Demonstration Man Shot, Dragged For Miles In Possible South Carolina Hate Crime "Lost" Star Jorge Garcia's Dog Died In His Arms Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2010 AHN All Rights Reserved

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