Charlotte / NC. (kkd) Krispy Kreme Doughnuts Inc., indirect member of Luxembourg’s JAB Holding, reported financial results for the quarter ended September 29. Q3-2024 highlights versus Q3-2023:
- Net revenue of USD 379.9 million
- Organic revenue grew 3.5 percent to USD 376.4 million
- GAAP net income of USD 37.6 million, linked to the sale of a majority ownership stake of Insomnia Cookies (USD 39.6 million net income attributable to KKI)
- Adjusted Ebitda of USD 34.7 million
- GAAP operating cash flow of USD 3.3 million
- Global Points of Access (POA) increased 2,417, or 18.0 percent, to 15,811
«Krispy Kreme delivered a seventeenth consecutive quarter of year-over-year organic sales growth driven by increased Delivered Fresh Daily and digital sales,» said CEO Josh Charlesworth. «Consumers ask us every day, «When can you bring Krispy Kreme to my town?» hence our strategy of making our fresh doughnuts more available around the world. The successful start of our nationwide U.S. rollout at McDonald ‘s, which began in Chicago in October and continues next week across Ohio and Indiana, is a major milestone on this journey, and we now expect to be delighting Krispy Kreme ‘s fans with our melt-in-your-mouth doughnuts fresh daily in nearly 2,000 McDonald ‘s restaurants by the end of 2024.
«Now well into my first year as CEO, we have streamlined and focused our business with the sale of our majority stake in Insomnia Cookies complete and the acceleration of our US DFD expansion underway. To better align our talent and our capital to our business priorities, we are now restructuring our management teams to concentrate on maximizing our profitable expansion of the U.S. while focusing international efforts on the wider adoption of our capital-light franchise model. With our resources prioritized to the things that matter most, I believe that these changes will result in a bigger and better Krispy Kreme.»
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