Krispy Kreme, Inc. (NASDAQ:DNUT) shares are trading lower Thursday after company reported lower-than-expected second-quarter financial results.
The Details:
Krispy Kreme reported quarterly earnings of 7 cents per share, in line with consensus estimates and second-quarter sales of $408.88 million, missing the analyst consensus estimate of $410.83 million.
CEO Mike Tattersfield stated, “I am proud of the results we delivered in the second quarter, which were bolstered by our continued focus on expanding our hub and spoke model as we leaned heavily into our omni-channel and DFD capabilities as well as our international expansion strategy … We are also pleased with our continued global expansion, as we opened three new markets during the quarter in Chile, Jamaica, and Costa Rica, all exceeding our revenue growth targets.”
DNUT shares are trading lower on above-average trading volume. According to data from Benzinga Pro, more than 1.55 million shares have been traded in the session, compared to the stock’s 100-day average of just over 1 million shares.
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DNUT Price Action: According to Benzinga Pro, DNUT shares are trading 14.1% lower at $12.38 at the time of publication.
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