June 4, 2010 by Post Team
Krispy Kreme:For the first quarter, the company, which competes with privately owned brands Dunkin ‘Inc and its larger rival Starbucks Corp (SBUX.O), earned $ 4.5 million, or 6 cents per share, compared with $ 1.9 million, or 3 cents a share, a year ago.
The sweets of the public broadcaster was in 2001 with a bid of success, becoming a favorite of Wall Street.
But things turned sour not long after, as it struggled with its updates, research into its past accounting and a decline in sales of rings that sent some of its franchisees into bankruptcy.
However, it now appears that there is some renewed optimism, with the company to increase its fiscal 2011 earnings view for the operation, excluding impairment charges and lease termination costs to U.S. $ 11 million to $ 15 million of its previous forecast of $ 10 million to $ 13 million.
Krispy Kreme shares, which lost 7 percent of its value this year fell to a low of just over a dollar last year from a life high of 49.74 in 2003.
They were about 10 percent to $ 4.05 in late morning trade on the New York Stock Exchange. They played a maximum of $ 4.09 earlier in the day.
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