The world of luxury junk food (is there such a thing really?) is alive well if you look at the initial reaction in Krispy Kreme Doughnuts, Inc. (NYSE: KKD) earnings report. The company reported earnings of $0.06 per share, up from $0.02 a year ago and vers Thomson Reuters estimates of $0.06 per share. Sales were up over 10% to $101.9 million versus estimates of $101.3 million.
Shares are moving higher on guidance. The company now puts its 2013 earnings outlook in a range of $0.35 to $0.41 per share against Thomson Reuters estimates of about $0.35 per share.
The company also ended its last quarter with system wide stores of 694 stores and sees opening 5 to 10 domestic stores and about 75 international franchises over the next year.
Shares rose 1.5% today to $8.49 at the close and the after-hours session has shares up over 4% at $8.85. The company’s 52-week trading range is $5.10 to $10.08. As of Tuesday’s close, Krispy Kreme was worth about $578 million. At the mid-point of the range for the coming year, Krispy Kreme trades at about 22-times expected earnings.
JON C. OGG
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