Big Bucks For Doughnuts
It continues to be one of the amazing post-bubble success stories.
Krispy Kreme Doughnuts says third-quarter earnings rose 56 percent. It cites strong company store sales, as well as rising revenues from manufacturing and distribution.
The Winston-Salem, North Carolina-based company reports net income of 10.1 million dollars or 17 cents a share. That’s up from 11 cents a year ago.
The results were slightly better than expected.
System wide, sales at stores open at least a year rose ten percent. Sales were slightly better than for company-owned stores.
Krispy Kreme announced last week that it would move into the United Kingdom and open 25 stores there over the next five years. Expansion is also planned in Japan, South Korea, Spain and Mexico.
The company has a store in Modesto.