Krispy Kreme shares drop 16 percent after quarterly profit report.

Publication: Winston-Salem Journal (Winston-Salem, North Carolina) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2004 Winston-Salem Journal

Byline: Brian Louis

Nov. 23--Shares of Krispy Kreme Doughnuts Inc. fell 16 percent yesterday after it reported worse-than-expected results for its fiscal third quarter.

The company also withdrew its sales forecast for the full year and executives refused to answer questions from analysts on its conference call.

"These are challenging times for our company," said Scott Livengood, the chief executive of Krispy Kreme. "No doubt about it. We hope it's clear that we're taking the sometimes difficult, yet important actions necessary to solve the challenges facing the company today. It's important to remember that Krispy Kreme continues to be a premier brand."

Investors have sent the company's shares tumbling this year because of falling profit and an investigation by the Securities and Exchange Commission into some of...

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