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Krispy Kreme Shares Slide After Disappointing Earnings Projection (KKD)

K|KD Stock priceKrispy Kreme Doughnuts Inc. said Monday that it earned $6.8 million, or 9 cents per share, in the quarter ended Nov. 3, a 34% increase but investors were turned off father the company predicted weaker earnings for the coming year.

Krispy Kreme said earnings excluding special items will range between 71 cents and 76 cents per share for the year ending in February 2015, below the 77 cents per share that analysts were expecting.

CEO James Morgan said in a statement that the company is growing sales despite “tepid” consumer spending environment.

Revenue rose 7 percent, to $114.2 million from $107.1 million. Sales at company-owned stores open at least a year increased 3.7 percent thanks to price increases.

Shares of (KKD) Krispy Kreme were down 13.81 % after hours trading to $21.16. The stock closed at $24.55

 

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