Krispy Kreme Doughnuts (KKD) Misses Q4 EPS by 1c; Guides FY15 EPS
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Krispy Kreme Doughnuts (NYSE: KKD) reported Q4 EPS of $0.12, $0.01 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $112.7 million versus the consensus estimate of $119.59 million.
Company same store sales rose 1.6%, the 21st consecutive quarterly increase, despite harsh winter weather in several key markets estimated to have penalized fourth quarter comparisons by approximately 1 point.
The Company also announced that its Board of Directors increased the Company’s current share repurchase authorization from $50 million to $80 million.
In fiscal 2015, the Company expects to open between 10 and 15 small, free-standing factory shops, and estimates the Company’s domestic franchisees will open between 20 and 25 Krispy Kreme shops, including both small factory and satellite locations. The Company forecasts that international franchisees will open approximately 85 locations. Allowing for anticipated normal shop closings across the system, management estimates that the total systemwide store count will rise over 10% in fiscal 2015. The Company’s goal is to achieve modest organic same store sales growth in its Company shops in fiscal 2015 driven by traffic, with modest pricing action incremental to that. The Company forecasts that international franchise same store sales will continue the improving trend of recent years.
Sees FY2015 EPS of $0.73-$0.79, versus the consensus of $0.75.
For earnings history and earnings-related data on Krispy Kreme Doughnuts (KKD) click here.
Company same store sales rose 1.6%, the 21st consecutive quarterly increase, despite harsh winter weather in several key markets estimated to have penalized fourth quarter comparisons by approximately 1 point.
The Company also announced that its Board of Directors increased the Company’s current share repurchase authorization from $50 million to $80 million.
In fiscal 2015, the Company expects to open between 10 and 15 small, free-standing factory shops, and estimates the Company’s domestic franchisees will open between 20 and 25 Krispy Kreme shops, including both small factory and satellite locations. The Company forecasts that international franchisees will open approximately 85 locations. Allowing for anticipated normal shop closings across the system, management estimates that the total systemwide store count will rise over 10% in fiscal 2015. The Company’s goal is to achieve modest organic same store sales growth in its Company shops in fiscal 2015 driven by traffic, with modest pricing action incremental to that. The Company forecasts that international franchise same store sales will continue the improving trend of recent years.
Sees FY2015 EPS of $0.73-$0.79, versus the consensus of $0.75.
For earnings history and earnings-related data on Krispy Kreme Doughnuts (KKD) click here.
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