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Krispy Kreme Stock Plummets 7% Amid Earnings Miss and Turnaround Plan Announcement
Krispy Kreme Stock Plummets 7% Amid Earnings Miss and Turnaround Plan Announcement
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BTCCSquare news:
Krispy Kreme shares cratered 7% Thursday as investors digested a disappointing earnings report and the unveiling of a corporate turnaround strategy. The donut chain posted Q2 revenue of $380 million, a steep decline from $439 million in the prior-year period, while swinging to a $25 million adjusted net loss.
The company attributed its struggles to the dissolution of a key fast-food partnership that created "unsustainable operating costs." CEO Josh Charlesworth outlined a four-pronged restructuring plan focused on refranchising efforts, though details remain sparse. Market reaction was decisively negative, with the stock dramatically underperforming the broader market indexes.
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