Date: Thu Aug 24 2000 - 16:08:26 PDT
God, yes. Especially if the little light is on that means there are hot
ones inside! It's no wonder they make big bucks, though. They sell fried
dough for about 3 or 4 bucks for a dozen, and pay their employees jack.
(: Mom's been kicking herself for not jumping on that one sooner, as
well. She's the trader of the family. (:
"A civilized society is one which tolerates eccentricity to the point of doubtful sanity."
-- Robert Frost
On Thu, 24 Aug 2000, Linda wrote:
> [Adam, why didn't we look at this one? It's outperformed many
> tech IPO's from this spring, and today the stock jumped 24% on a
> great earnings release. Same store sales up 19%.
> We're deprived of Krispy Kremes up here in Canada. Are they really
> *that* good?
> Krispy Kreme Heats Up, Rising Nearly 24% on Solid Earnings
> By Tim Arango
> TheStreet.com/NYTimes.com Staff Reporter
> 8/24/00 4:28 PM ET
> Updated from 12:53 p.m. EDT
> Shares in Krispy Kreme Donuts (KREM:Nasdaq - news) surged Thursday after
> the company reported quarterly earnings above Wall Street estimates.
> The company, which is known for making hot glazed donuts, reported net
> income for the second quarter at $3.6 million, a 266% increase from
> the $1 million in net income in last year's second quarter. It earned
> 25 cents a share, up from 10 cents a share in the year-ago period. The
> consensus among Wall Street analyst was for the company to earn 18 cents
> a share, according to market research firm First Call/Thomson Financial.
> Shares rose nearly 24% on the news, finishing up 14
> 15/16 at 78 5/16. Its all-time high is 80 5/8.
> Revenue for the quarter rose 36% to $70 million, compared
> with $51.4 million in last year's second quarter.
> Among stores that have been open at least a year, systemwide stores --
> which includes franchises -- rose 19.4%, while company-owned store sales
> rose 24.4%.
> The company also raised its earnings-per-share expectations for the full
> year to $1. This compares to an 85-cent consensus among Wall Street
> analysts, according to First Call/Thomson Financial.
> Krispy Kreme, based in Winston-Salem, N.C., went public in April. During
> the quarter that ended July 30, six new stores opened, while the company
> increased its projected store openings for the current year to 28 from
> 22. It expects to open 32 new stores in fiscal 2002. It has 154 stores
> in 27 states.
> Krispy Kreme was founded in 1937, and has long been popular in the
> South. In recent years, it began expanding into the Northeast and West.
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