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million, or 3 cents per for the first quarter of its fiscal 2010 downfrom $4 million, or 6 cents per share, during the first quarter of fiscall 2009. Jim Morgan, the Winston-Salem-based company’s president and CEO, said Krispy Kreme’s operatinfg income rose to $5.8 from $5.6 million a year ago, despite $2.4 million in lease termination costsand $1.1 millio n in charges related to its credit facilities. Sales at company-owned stores open at least a year wereup 2.1 percenrt from the same period last year. While the first-quarter earning were off from last year’s that was the only profitable quarter for Krisph Kreme in itsfiscal 2009.
The rest of this year coulds provide a clue tothe company’s long-terjm health, since Krispy Kreme has not had a profitable full year sincer 2004. “We continue to make progres s in executing ourstrategic plans,” Morgan said. “Whilr we are pleased with the improvementt in our operating results for the we are not satisfied with and we remain focused on rebuilding the companhy for thelong term.” Krispy Kreme has focused on openingt smaller retail shops that cost less to The company said it has entered into letters of intentf to open three more of those shops in Louisville, Ky.; and Columbia, S.C.
Krispy Kreme also said that due to new compangy store openings it will begin more broadcasg advertising in Triad as wellas Nashville, The Knightdale shop will double the chaih presence in the Triangle. Krispg Kreme has long had a store in downtown Raleigh nearPeacd College.
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