Doughnut distributor Krispy Kreme Doughnuts Inc.’s stock rose last Friday on news that its fiscal first-quarter earnings blew past the same period last year, and above analyst expectations.
Earnings were $4.5 million, compared to $1.9 million reported during the first quarter last year. The company also raised its full-year financial forecast for 2010. Shares of the company’s stock jumped 6.8 percent last Friday on the news.
The company sells doughnuts via its namesake outlets, as well as at other retail locations such as gas stations, department stores, and convenience stores around the world.
It competes with Dunkin Donuts and Starbucks Inc. in the United States.
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