Share this article

print logo

CORPORATE EARNINGS

Krispy Kreme Doughnuts said Friday its earnings increased 56.3 percent for the third quarter. The company earned $10.1 million, or 17 cents a share, for the three months ended Nov. 3 compared to $6.5 million, or 11 cents a share, in the period last year. Revenue rose to $129.1 million compared with $99.8 million a year ago. The company said it expects fiscal fourth- quarter earnings per share to rise nearly 30 percent to 18 cents per share from the 14 cents per share earned a year earlier. Krispy Kreme also forecast sales at its stores open at least a year would grow by 10 percent in the fourth quarter. Sales from the company stores increased 15.1 percent to $79 million and revenue from franchise operations grew to $4.9 million, up 47 percent, the company said.

Borders Group reported a loss of $1.8 million, or 2 cents per share, in the period ended Oct. 27. That compares with a loss of $3.1 million, or 4 cents a share a year ago. The company had sales of $749.8 million, a 5 percent increase over last year. Sales at Borders super stores were up 6.5 percent to $511.8 million. Same-store sales increased by 0.6 percent. Specifically, book sales were up slightly, music was down in the low single digits and the company experienced strong growth in DVD and gifts and accessories. The International segment had third-quarter sales of $73.4 million, up 23.8 percent over a year ago. Waldenbooks achieved third-quarter sales of $164.6 million with same-store sales down 2.3 percent. Net loss improved to $800,000 compared to a net loss of $1.3 million in the third quarter a year ago. For the fourth quarter, Borders Group estimates consolidated earnings of approximately $1.41 to $1.45 per share. Analysts polled by Thomson First Call expect $1.42 per share.

There are no comments - be the first to comment