Low-carb diets trim Krispy Kreme profits

Posted by Luis F. Escalante on May 25 in Business

Krispy Kreme today reported its first quarterly loss since going public four years ago after warning earlier this month that low-carb diets were hurting its sales. The doughnut maker said it lost $24.4 million, or 38 cents a share, for its first fiscal quarter ended May 2, compared to a profit of $13.1 million, or 22 cents a share, a year ago. Krispy Kreme also said that it will cut the number of planned new stores by 17 percent.