Krispy Kreme Doughnuts Inc. (KKD) is getting smaller in more ways than one.
While once again warning it may shutter a “significant” number of stores, Krispy Kreme said on Thursday’s earnings call that operators in New York and Phoenix have opened smaller stores with lower labor, supply and other costs, ones that could be a future model for the system. The company already secured sites in Smyrna, Tenn., and its hometown, Winston-Salem, N.C., to soon open its own models of the compact store.
Krispy Kreme also plans to soon introduce miniature versions of its most popular doughnuts like chocolate-iced and original glazed to offer customers something new on which to chew.
These are among the steps the onetime Wall Street darling hopes can set its business up for growth, which the company still expects to be more than a year away. Carry on reading.