fbpx

Krispy Kreme bets on easing curbs, new menu items to forecast higher revenue By Reuters


© Reuters. A Holiday variety box is pictured outside a Krispy Kreme Doughnuts store in Burbank, California, U.S., July 1, 2021. REUTERS/Mario Anzuoni/Files

(Reuters) – Krispy Kreme Inc forecast a 23% surge in annual revenue, betting on new menu items like cotton candy and caramel popcorn doughnuts to draw in customers as pandemic curbs ease.

Shares rose about 3% in extended trading, after it also beat second-quarter revenue estimates in the first earnings report since its return as a listed company in July.

Major U.S. restaurant chains including McDonald’s Corp (NYSE:), Starbucks Corp (NASDAQ:) and Chipotle Mexican Grill Inc (NYSE:) have marked a surge in sales, as curbs on travel and restaurant capacity ease and more people return to offices.

In step with rival fast-food joints, Krispy Kreme has also ramped up its menu offerings to attract returning customers, helping the “Original Glazed” doughnut maker forecast annual net revenue to increase between 19.4% and 23% to between $1.34 billion and $1.38 billion.

Krispy Kreme also said it expects to pay an initial cash dividend of 3.5 cents per share for the quarter ending Oct. 3.

Net revenue rose 42.6% to $349.2 million in the second quarter ended July 4. Analysts had forecast revenue of $333.4 million.

Excluding items, it earned 13 cents per share, a cent short of estimates, according to IBES data from Refinitiv.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Leave a Reply

Your email address will not be published.

^N225 
$29,222.77  $353.86  1.23%  
SGHIF 
$1.43  $0.022  1.56%  
^HSIL 
$23.73  $0.58  2.39%  
SZNTF 
$0.2006  $0.0000  0.00%  
KOSPI.KS 
$2,516.47  $17.05  0.67%  
AUS.NZ 
$3.09  $0.013  0.42%  
^NSEI 
₹ 17,942.35  ₹ 117.10  0.66%  
FCNBCA.FGI 
$8,257.86  $50.19  0.61%  
EURUSD=X 
$1.02  $0.0013  0.13%  
GBPUSD=X 
$1.21  $0.0005  0.04%  
JPY=X 
$134.79  $0.571  0.43%  
^GSPC 
$4,305.20  $8.06  0.19%  
NDAQ 
$191.59  $0.36  0.19%  
^DJI 
$34,152.01  $239.61  0.71%