Market Updates
Krispy Kreme's Quarterly Loss Shrank
Scott Peters
17 Aug, 2022
New York City
Krispy Kreme Inc declined 11.8% to $12.80 after the doughnut chain operator reported weaker-than-expected revenues and earnings.
Second quarter revenues increased 7.5% to $375.2 million and net loss declined to $2.4 million from $15.0 million a year ago.
Revenues in the U.S. and Canada increased 8.5% to $250.5 million.
Diluted loss per share fell to 2 cents from 15 cents a year ago.
Krispy Kreme lowered its 2022 revenues outlook in the range between $1.49 billion and $1.52 billion from the previous estimate between $1.53 billion and $1.56 billion.
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