Krispy Kreme Shares Down 10% as Revised Guidance Disappoints

Krispy Kreme Doughnut's shares are slumping after hours, down almost 10% from the close. The company met earnings expectation but it also lowered full-year guidance. Profit for the first quarter was $0.23 a share, in line with forecasts. That's up $0.03 from one year ago. Revenue increased 0.8% YoY to $121.6 million. Same-store sales growth was 2.3% within the U.S. but was down 2.2% for international stores when currency fluctuation is factored in. The most devastating part, however, is that management lowered full year earnings per share guidance to a range of $0.69 to $0.74, 6% less than the previous guidance range.