Krispy Kreme Profits Miss Q2 Estimates, Street Slams Stock

Krispy Kreme posted second quarter earnings of $0.13 a share on revenue of $120.5 million. Wall Street analysts were looking for $0.16 a share on sales of $118 million. Last year, the donut purveyor earned $0.14 a share on $113 million in revenue. Krispy Kreme’s store count rose 3.4% in the quarter to 884 company and franchise shops worldwide. Domestic same store sales rose 2.8%, including a 1.1% gain at company shops while international franchise same store sales declined 2.4%. Cash provided by operating activities was $14.0 million compared to $13.1 million in the second quarter last year. TheStreet's Gregg Greenberg has details from New York.