CHARLOTTE, N.C. (AP) — Krispy Kreme Inc. on Wednesday reported a loss of $3.8 million in its second quarter.
The Charlotte-based company said it had a loss of $0.02 per share. Earnings, adjusted for one-time gains and costs, were $0.08 per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $0.09 per share.
The doughnut wholesaler and retailer posted revenue of $375.2 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $383.2 million.
Krispy Kreme expects full-year earnings in the range of $0.29 to $0.32 per share, with revenue in the range of $1.49 billion to $1.52 billion.
Shares of the company's stock were down down $1.76 to $12.76 in Wednesday trading.