Tuesday, June 14, 2005

News In Brief 14 June 2005

"More Losses" Light Flashing For Krispy Kreme

Krispy Kreme Doughnuts announced yesterday that it will be late filing its quarterly report with the S.E.C. and anticipates a nearly 20% decline in first-quarter revenue.

The Winston-Salem, N.C based company cites an overall loss for the period, attributing the loss to lower store averages and manufacturing and distribution elements.

The Garlic first reported trouble with Krispy Kreme, back in February (see 11 February 2005 - Krispy Kreme Turning Off The Light; Doughnuts To Be Room Temperature)

Krispy Kreme has not filed a quarterly report with the S.E.C. since September 2004, because it has been working to restate past results. The S.E.C. is also investigating the company's accounting and franchise repurchases.

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