New Zealand markets closed
  • NZX 50

    11,065.71
    -134.33 (-1.20%)
     
  • NZD/USD

    0.5598
    -0.0133 (-2.32%)
     
  • NZD/EUR

    0.5703
    -0.0129 (-2.22%)
     
  • ALL ORDS

    6,678.70
    -81.90 (-1.21%)
     
  • ASX 200

    6,474.20
    -80.80 (-1.23%)
     
  • OIL

    79.74
    -1.49 (-1.83%)
     
  • GOLD

    1,668.30
    -0.30 (-0.02%)
     
  • NASDAQ

    10,971.22
    -193.56 (-1.73%)
     
  • FTSE

    6,893.81
    +12.22 (+0.18%)
     
  • Dow Jones

    28,725.51
    -500.10 (-1.71%)
     
  • DAX

    12,114.36
    +138.81 (+1.16%)
     
  • Hang Seng

    17,222.83
    +56.96 (+0.33%)
     
  • NIKKEI 225

    25,937.21
    -484.84 (-1.83%)
     
  • NZD/JPY

    80.9920
    -1.7550 (-2.12%)
     

Krispy Kreme stock gets burnt on second-quarter earnings miss

Krispy Kreme shares are moving to the downside after missing on second-quarter earnings.

Video transcript

SEANA SMITH: It's time for our Triple Play, three stocks that we are watching here in the final 30 minutes of trading. We have Krispy Kreme, Ergo, and Blue Water vaccines. My play today is the donut favorite Krispy Kreme, sliding after cutting guidance for the year. It sees revenue between $1.48 and $1.52 billion. Organic revenue growth of 10% to 12% for the second quarter. The company swung back to a profit, but revenue, though, came up short, totaling $375.2 million.

Now CEO Mike Tattersfield was on Yahoo Finance earlier today. When asked about inflation and the consumer, he said that demand remains strong and that the chain's omnichannel approach is helping to drive results. It's a tough day, though, for the stock. You see shares off just about 11% today. Over the last seven months, it looks like the stock is off just about 7%, Jared.

JARED BLIKRE: Yeah, I'm kind of looking at the charts here. Now this is a stock that came to market about a year ago, over a year ago. So let's take a look at the YFi Interactive and just kind of chart the price action here. This is going to be what I call a very, very sideways-looking chart. And you can see nothing but sideways right there, and just kind of in the lower end to middle of that range. Now, we do have some props on set. Mr. Briggs there, if we can get a shot of you. Oh, look at this.

DAVE BRIGGS: I have no comment.

JARED BLIKRE: You have no shame.

SEANA SMITH: And you're a huge fan of Krispy Kreme--

DAVE BRIGGS: Listen.

SEANA SMITH: --donuts, so there might be a--

DAVE BRIGGS: Krispy Kreme--

SEANA SMITH: --couple more [INAUDIBLE].

DAVE BRIGGS: --has to be inflation-proof. They're cheap. They're delightful. You can eat about a dozen. And Jared, Jared, unlike anyone I've ever known, walks up to a box of Krispy Kreme-- yeah, I'm talking with my mouth full-- and he breaks it in half. And he leaves the half in the box.

SEANA SMITH: Oh.

DAVE BRIGGS: You don't ever do that.

JARED BLIKRE: No, I didn't touch them.

DAVE BRIGGS: Not to Krispy Kreme. That is not OK.

JARED BLIKRE: I didn't touch it with my hands. I used paper towels or something. It was all--

SEANA SMITH: You're actually showing a lot of restraint by just eating half. That's the real takeaway here, not the germs. It's the fact that you're only eating half of the donut.

JARED BLIKRE: The last time I had a Krispy Kreme donut was probably about the last time I had a square hamburger at Wendy's. And I ordered them out of the window of my bus on the way to school. We had a great bus driver, and she was nice enough to stop and let us order donuts [INAUDIBLE].

SEANA SMITH: Really?

DAVE BRIGGS: Did you only eat half?

JARED BLIKRE: I ate about half the box. It was a different era.

DAVE BRIGGS: Oh, half the box.

JARED BLIKRE: It was a different era, but now it's just half a donut.

SEANA SMITH: Wow.