Krispy Kreme operates a national chain of stores selling fresh made doughnuts and coffee. Krispy Kreme is best known for its signature Hot Original Glazed doughnuts made throughout the day and lets customers know with a "Hot Doughnuts Now" sign that lights up.
There are currently over 800 Krispy Kreme stores operating in 23 countries, including the United States, Australia, Bahrain, Canada, Indonesia, Japan, Kuwait, Lebanon, Malaysia, Mexico, the Philippines, the Republic of Korea, Qatar, the Kingdom of Saudi Arabia, the United Arab Emirates, and the United Kingdom. There are 92 company stores and 602 franchise locations.
Each Krispy Kreme store can produce anywhere from 2,400 to over 6,000 dozen per day. Stores also sell doughnuts to local supermarkets.
In fiscal 2013, the company reported revenues of $460.3 milliion, a 7.9% increase, and net income of $34.3 million.
In fiscal 2015, the company expects to open between 10 and 15 small, free-standing factory shops, and estimates that 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.
Krispy Kreme said it plans to have over 1,300 stores worldwide by 2017.
Vernon Rudolph bought a secret donut recipe from a French chef from New Orleans and rented a building in Winston-Salem, NC. He began selling Krispy-Kreme doughnuts on July 13, 1937 to local grocery stores. People soon began stopping by asking if they could buy hot doughnuts, so Rudolph cut a hole in the wall and started selling Hot Original Glazed doughnuts directly to customers.
Krispy Kreme would grow throughout the Southeast and nationally. Each new store opening became a local event as hundreds of customers waited in line to get fresh hot doughnuts. The company was sold to Beatrice Foods in 1976.
In 1982, some employees and franchisees bought back the company from Beatrice Foods and led an expansion of stores nationwide into NYC in 1996 and California in 1999. The company went public in April 2000.
Krispy Kreme was once a fast-growing chain earlier in the decade but overexpansion and accounting irregularities has led to store closings and several years of losses.
- Medical Insurance
Updated March 12, 2014