Krispy Kreme raised its full-year outlook, helped in part by strong same-store sales in the third quarter.
Krispy Kreme Doughnuts Inc.'s third-quarter earnings rose 6.9 percent as the chain's same-store sales continued to strengthen. And Krispy Kreme shares jumped 20 percent as revenues exceeded expectations and the company raised its full-year outlook.
For the quarter ended Oct. 28, Krispy Kreme reported a profit of $5 million, up from $4.7 million for the prior year. Earnings were unchanged during the same time period at 7 cents a share, while revenue totaled $105 million.
After several years of struggling, the company's revenue has improved every quarter for the past two years as the addition of coffee and other beverages helped to boost customer visits. The company also recently inked a deal with Star360 Group to bring its donut shops to Singapore, boosting its international presence