Krispy Kreme Doughnuts (KKD) Reports Preliminary Q1 Revenues and Same-Store Sales

Krispy Kreme Doughnuts, Inc. (NYSE: KKD) announced preliminary Q1 revenues of approximately $116 million compared to revenues of approximately $153 million for the first quarter of a year ago.

Systemwide sales fell approximately 17% in the first quarter of fiscal 2007 compared to the first quarter of the prior year.

The Company says the decrease in revenues principally reflects a decrease in the number of Company stores, lower sales to franchisees from the Company's Manufacturing and Distribution segment, and lower royalties and fees from franchisees. The Company also noted that its financial results continue to be adversely affected by the substantial costs associated with the legal and regulatory matters previously disclosed by the Company. The Company expects to report a net loss for the first quarter of fiscal 2007.

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