Krispy Kreme Doughnuts (KKD) Back From The Dead, Shares Surge 34%
Krispy Kreme Doughnuts Inc. (NYSE: KKD) is seeing some significant upside action today after reporting a smaller-than-expected Q4 loss and reaching an agreement with lenders. Shares are up 34% today to $3.06.
Krispy Kreme reported Q1 EPS of $0.00, versus a loss of $0.50 in the same quarter last year. Revenues were $91.77 million, versus the consensus of $94.3 million. Krispy Kreme also reached agreement with lenders on amendments to its credit facilities that should enable them to remain in compliance with the agreements and continue to provide backup sources of liquidity. KKD finished the year with $39 million of net debt, down $32 million in the past two years.
It should be noted that big-gun Nelson Peltz, through his Trian hedge fund, loaded up with a 1,575,000 share stake in the doughnut chain last quarter. Maybe he is loading up more today on the good news!
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