Thu, Feb 27, 10:16 PM (52 days ago)
Krispy Kreme, Inc. (DNUT) reported a fiscal year 2024 net revenue of $1,665.4 million, a slight decline of 1.2% from the previous year. However, the company achieved a significant turnaround with a net income of $3.1 million compared to a net loss of $37.9 million in fiscal 2023. The company’s operating expenses rose to $809.9 million, reflecting increased labor costs and investments in growth strategies. Earnings per share stood at $0.02, signaling a recovery from prior losses. Strategically, Krispy Kreme is focusing on expanding its omni-channel presence, achieving organic revenue growth of 5% driven by a net addition of 3,410 Global Points of Access, particularly through its Delivered Fresh Daily (DFD) network and partnerships, including a rollout with McDonald's. The company faces risks from food safety, cybersecurity incidents, and supply chain disruptions, notably highlighted by a $3 million impact from a cybersecurity issue in 2024. Despite these challenges, Krispy Kreme's outlook remains optimistic, with plans for further expansion into new international markets and continued growth in digital and DFD channels.