Low-carb diets trim Krispy Kreme profits

Filed under: Business — Tags: krispy-kreme-low-carb — @ May 25, 2004

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.