The world of luxury junk food (is there such a thing really?) is alive well if you look at the initial reaction in Krispy Kreme Doughnuts, Inc. (NYSE: KKD) earnings report. The company reported earnings of $0.06 per share, up from $0.02 a year ago and vers Thomson Reuters estimates of $0.06 per share. Sales were up over 10% to $101.9 million versus estimates of $101.3 million.
Shares are moving higher on guidance. The company now puts its 2013 earnings outlook in a range of $0.35 to $0.41 per share against Thomson Reuters estimates of about $0.35 per share.
The company also ended its last quarter with system wide stores of 694 stores and sees opening 5 to 10 domestic stores and about 75 international franchises over the next year.
Shares rose 1.5% today to $8.49 at the close and the after-hours session has shares up over 4% at $8.85. The company’s 52-week trading range is $5.10 to $10.08. As of Tuesday’s close, Krispy Kreme was worth about $578 million. At the mid-point of the range for the coming year, Krispy Kreme trades at about 22-times expected earnings.
JON C. OGG
Credit card companies are handing out rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
