Last week's announcement from Krispy Kreme that it would not meet Wall Street expectation for the quarter?due in part, the company claims, to Atkins devotees shunning its flaky goodness?revealed particular problems with its six New York City stores. Says COO John W. Tate, "I consider New York to be a very special geography. It is best for us and our shareholders if we do not participate heavily in the development costs." (Translation: don't expect KK moving into that vacant storefront next door anytime soon.) We are, of course, deeply upset by this news and plan to spend the rest of the day in bed, consuming donuts. Do join us.
· Krispy Kreme to reduce equity exposure in NY [Crain's]
· Krispy Kreme Fading [LA Daily News]
· Krispy Kreme Store Locator: New York City [krispykreme.com]
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