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Krispy Kreme first quarter revenues rose 11.2%

RBR Staff Writer Published 31 May 2013

Krispy Kreme Doughnuts, a branded specialty retailer and wholesaler, has reported 11.2% rise in revenues to $120.6m in the first quarter of fiscal 2013, compared to $108.5m in the same period a year ago.

The chain's operating income grew by 40% to $15.2m, against $10.8m in the corresponding period last year.

Net income amounted $8m, compared to $6m in the first quarter last year. Same store sales increased by 11.4%, the eighteenth consecutive quarterly increase, company said.

Krispy Kreme Doughnuts chief executive officer James Morgan said, "We continue to believe we are in the very early stages of developing Krispy Kreme's long-term potential as we continue to execute on our strategic priorities, demonstrate our capability to grow same store sales, generate significant operating cash flow, and increase earnings over the long term."

Krispy Kreme is a specialty retailer and wholesaler of premium quality sweet treats and complementary products, including its signature Original Glazed doughnut.

Founded in 1937, Krispy Kreme operates in over 770 outlets in 22 countries around the world.