Krispy Kreme Doughnuts, which is opening its first UK outlet in Harrods, London next month, said net income rose 47% in its second quarter, as systemwide sales grew 28% and like-for-like sales were up 11%.
Krispy Kreme reported net income of $13.0m for the quarter ended August 3. Corporate revenues rose 41% to $161.8m.
During the second quarter 22 new stores were opened in 12 new markets. Krispy Kreme had 302 stores in its system at the end of the quarter.
Krispy Kreme said it had raised its three-to-five year target for operating income as a percent of sales to 20% from its previous goal of 15%. The company's target for its company store operations income as a percent of sales is now 25%, up from 20%.
Krispy Kreme reported net income of $13.0m for the quarter ended August 3. Corporate revenues rose 41% to $161.8m.
During the second quarter 22 new stores were opened in 12 new markets. Krispy Kreme had 302 stores in its system at the end of the quarter.
Krispy Kreme said it had raised its three-to-five year target for operating income as a percent of sales to 20% from its previous goal of 15%. The company's target for its company store operations income as a percent of sales is now 25%, up from 20%.
