The Doughnut That Encircled the World

Krispy Kreme (KKD Quote) said Friday that it plans to sign doughnut franchise agreements in two international markets by 2003, as part of a move abroad aimed at supporting the company's long-term growth goals.

While the company's foray into Canada late last year has so far been successful, some analysts worry that further international moves are too risky for the Winston-Salem, N.C., circular dough peddler at this stage. The company doesn't think so.

The first franchise agreement will probably come in the next 18 months, according to Chief Operating Officer John Tate, and could be located in Australia or the U.K. Other countries the company is looking at include Japan, Spain and Mexico. ...