Doughnut bakery chain Krispy Kreme has reported “strong growth” in the second quarter compared to the previous year, citing expanding territories and an omnichannel commitment.
For the quarter to July 2, net revenue grew 9 per cent to $408.9 million year-on-year while organic revenue increased 11.4 per cent during the same period.
In the US segment, net revenue grew $22.8 million, up 9.3 per cent while adjusted EBITDA reached $28.1 million, up 16.3 per cent – driven by efficiencies from network optimisations and price increases.
In the international segment, net revenue grew $4.5 million, or up 4.8 per cent while EBITDA declined 0.4 per cent to $19.5 million driven by cost inflation.
Krispy Kreme CEO, Mike Tattersfield, said the results were “bolstered” by the brand’s continued focus on expanding its hub and spoke model and leaning into its omnichannel and DFD capabilities to continue expansion.
“We are also pleased with our continued global expansion, as we opened three new markets during the quarter in Chile, Jamaica and Costa Rica – all exceeding our revenue growth targets.”
The company expects to open in three to five additional markets this year having recently opened in Switzerland – its first entry into Continental Europe – followed by another opening in France before the end of the year.
