Tags: Krispy | Kreme | Outlook | Shares

Krispy Kreme Cuts Outlook; Shares Tumble

Monday, 02 June 2014 05:25 PM

Krispy Kreme Doughnuts Inc. cut its adjusted earnings forecast for the full year as it expects a rise in costs related to technology upgrades and management changes, sending its shares down sharply in extended trading Monday.

The company cut its fiscal 2015 adjusted earnings forecast to 69-74 cents per share from 73-79 cents.

Analysts on average were expecting earning of 78 cents per share, according to Thomson Reuters I/B/E/S.

Krispy Kreme, best known for its glazed doughnuts, said revenue for the first quarter ended May 4 rose 0.79 percent to $121.58 million.

At about 5:30 p.m. in New York, Krispy Kreme's shares were down 10 percent at $17.09, after gaining less than 1 percent during the regular New York Stock Exchange session to close at $19.

© 2021 Thomson/Reuters. All rights reserved.


InvestingAnalysis
Krispy Kreme Doughnuts Inc. cut its adjusted earnings forecast for the full year as it expects a rise in costs related to technology upgrades and management changes, sending its shares down sharply in extended trading Monday.
Krispy, Kreme, Outlook, Shares
126
2014-25-02
Monday, 02 June 2014 05:25 PM
Newsmax Media, Inc.
 
Newsmax TV Live
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved