Krispy Kreme Significantly Narrows Its 4Q Loss

Same-store sales, or sales at stores open at least a year, measure growth at existing stores rather than newly opened ones.

Krispy Kreme said its lenders have also agreed to amend its credit agreements, which will likely allow it to stay in compliance with the facilities. The retailer has shaved $32 million off its debt load in the past two years. It had $39 million in debt at the end of fiscal 2009.

For the year, Krispy Kreme's loss shrunk to $4.1 million, or 6 cents per share, from a loss of $67.1 million, or $1.05 per share.

Full-year operating profit was $4.8 million compared with an operating loss of $42.6 million in the previous year.

Annual sales declined 11 percent to $384 million from $429.3 million.

Krispy Kreme has approximately 520 stores globally.