Krispy Kreme Falters In Q3: Earnings Miss, Sales Slide, And Outlook Dims Post-Insomnia Cookies Sale

Krispy Kreme, Inc. (NASDAQ:DNUT) shares are trading lower on Thursday.

The company reported third-quarter adjusted earnings per share of a loss of one cent, missing the analyst consensus of one cent earnings.

Quarterly sales of $379.87 million (down 6.8%) missed the street view of $380.33 million. Krispy Kreme’s third-quarter results reflect the sale of a majority ownership stake in Insomnia Cookies. 

Total company organic revenue increased 3.5% year-over-year, driven by a 15% rise in Delivered Fresh Daily (DFD) and digital sales, which offset softness in U.S. Retail and the U.K.

In the U.S. segment, net revenue fell by 12.2%. This decline was mainly due to a $43.5 ...

Full story available on Benzinga.com