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.

Krispy Kreme today released a revised profit outlook. In the new plan, profits are down nearly 10%. The company cites low-carb diets as the cause for lost sales. We reported in March of this year that Krispy Kreme will introduce a low-carb doughnut later this year.