Krispy Kreme narrows loss in '09

by Eric Schroeder
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WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts, Inc. narrowed its loss in the fiscal year ended Jan. 31 to $157,000 from $4,061,000 in fiscal 2008. The company, which also saw sales fall 10% to $346,520,000 in fiscal 2009, said it expects to return to profitability in fiscal 2011. “We are continuing to make targeted investments to build our operational capabilities to support future growth, despite those investments penalizing our results in the short term,” said Jim Morgan, president and chief executive officer. “We are working vigorously to continue implementation of our strategic plans and, in doing so, we believe we are setting the stage for additional and more robust growth in revenues and earnings in fiscal 2012 and beyond.”

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