Reported 3 days ago
Krispy Kreme's stock plummeted by 7% after the company released its second-quarter earnings report, which showed a significant net loss of $25 million, contrary to analysts' expectations of only a $0.04 loss. Although revenue exceeded estimates at nearly $380 million, this was a decline from the previous year's $439 million. The company's challenges were attributed to unsustainable costs from its former partnership with McDonald's, prompting the initiation of a turnaround plan focusing on refranchising, cost reduction, and sustainable growth.
Source: YAHOO