Krispy Kreme Narrows Loss In 2Q

WINSTON-SALEM, N.C. (AP) — Krispy Kreme Doughnuts Inc. on Thursday reported that it narrowed its loss in the second quarter that ended Aug. 2.

The company reported a net loss of $157,000 and broke even on a per-share basis for the quarter ended Aug. 2, compared with a net loss of $1.9 million, or 3 cents per share in the quarter.

Total revenue fell 12 percent to $82.7 million from $94.2 million. However sales at stores open at least a year, considered a key financial indicator for retailers, rose 5.9 percent.

Krispy Kreme said that traditionally it struggles to sell doughnuts during the warm summer months, but has been able to make the business more profitable year-round by expanding its offerings.

Shares of Krispy Kreme fell 6 cents to $3.28 in after-hours trading following the earnings release. In the regular session, the stock gained 25 cents, or 8.1 percent, to $3.34.