Krispy Kreme’s Profit Soars; Sales Hurt Stock
From Bloomberg News
Krispy Kreme Doughnuts Inc. said fourth-quarter profit more than doubled as it opened more stores, but a decline in average weekly store sales sent the stock down 10%.
Net income increased to $16.4 million, or 26 cents a share, from $5.63 million, or 9 cents, a year earlier. Overall sales rose 36% to $185.5 million, Winston-Salem, N.C.-based Krispy Kreme said.
Shares of Krispy Kreme fell $3.94 to $34.22 on the NYSE.
From Bloomberg News
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