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Krispy Kreme Unveils Turnaround Plan With US Stake Cut, Global Re-Franchising
(Bloomberg) -- Krispy Kreme Inc. sunk as much as 15% Thursday after it posted second-quarter earnings that missed estimates and revealed more details about its turnaround plans. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station The company's results reflect the 'unsustainable operating costs' from its partnership with McDonald's Corp., Chief Executive Officer Josh Charlesworth said in a statement. Krispy Kreme is reducing its ownership stake in its Western US joint venture, after the company ended its distribution partnership with McDonald's last month. It recorded $28.9 million in lease impairment and termination costs related to the tie-up, as well as $22.1 million in non-cash impairment charges. The company has also started re-franchising international markets including Australia, Japan and the UK, it said. 'Looking ahead, we have implemented a comprehensive turnaround plan aimed at unlocking our two biggest opportunities: profitable US expansion and capital-light international franchise growth,' Charlesworth said in the statement. Krispy Kreme plans to exit roughly 1,500 underperforming locations by year-end. It will replace them with about 1,100 more profitable points of sale, more than half of which are already operational, Charlesworth said on a separate earnings call — these include retail partnerships with chains like Target Corp., Walmart Inc. and Costco Wholesale Corp. The doughnut chain reported an adjusted loss per share of 15 cents, more than the loss of 5.3 cents analysts estimated. The company also continued to withhold full-year guidance, and did not issue one for the third quarter. The company reduced its general and administrative workforce by 15%, Charlesworth said on the call. Earnings before interest, taxes, depreciation, and amortization is expected to be higher in the second half of the year, and be cash-flow positive, he added. As of June 29, Krispy Kreme had $21.3 million of cash and cash equivalents as well as undrawn committed capacity of $222.5 million under its credit facilities, it said. The company previously halted quarterly cash dividends and sold the remaining ownership stake in Insomnia Cookies in the past quarter. 'We're glad to see management lay out a blueprint to get things back on track but will need to see more quantification and results before getting more constructive,' Truist analysts led by Bill Chappell, who has a 'Hold' rating on Krispy Kreme, wrote in a note. The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Russia's Secret War and the Plot to Kill a German CEO AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery Government Steps Up Campaign Against Business School Diversity ©2025 Bloomberg L.P.
Yahoo
20 minutes ago
- Yahoo
If You'd Invested $10,000 in BigBear.ai Stock 1 Year Ago, Here's How Much You'd Have Today
Key Points has seen huge gains recently in conjunction with the defense AI trade becoming increasingly popular among investors. has a growth-dependent valuation, and investors will need to see margins improve over time. 10 stocks we like better than › (NYSE: BBAI) stock has been on a big winning streak lately, but it's got a huge test on the near horizon. The company is set to publish its second-quarter earnings results after the market closes on Aug. 11, and the company's share price could be poised for a big move. share price has rocketed roughly 440% higher over the last year, as of market close Aug. 6. That means that a $10,000 investment in the stock one year ago would now be worth $54,000. Expectations are running high heading into the company's upcoming quarterly report. What comes next? Can stock really keep going? As a provider of artificial intelligence (AI) software and consulting services, has recently seen big valuation gains as AI companies with exposure to the defense industry have become favorites on Wall Street. Artificial intelligence is having a transformative impact on a wide range of market sectors right now, and geopolitical dynamics including the war between Russia and Ukraine and tensions between the U.S. and China have encouraged investors to seek out defense AI plays. With its last quarterly update, guided for annual revenue to be between $160 million and $180 million -- representing growth of roughly 7.5% at the midpoint of the target range. Meanwhile, is valued at approximately 12 times this year's expected sales and still isn't profitable. New contract wins and excitement surrounding defense AI trades could continue to push the company's share price well above current levels, but eventually the business will need to show stronger margin improvements to please investors. For example, the business posted a gross margin of just 21.3% last quarter -- a level that's quite low for a software and services company. stock could keep delivering wins for investors, but the company has some proving to do following its recent valuation gains. Should you buy stock in right now? Before you buy stock in consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $635,544!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,099,758!* Now, it's worth noting Stock Advisor's total average return is 1,047% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 4, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. If You'd Invested $10,000 in Stock 1 Year Ago, Here's How Much You'd Have Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
Trump tariffs hit India's garment makers as US buyers say move production
By Dhwani Pandya and Praveen Paramasivam MUMBAI/CHENNAI (Reuters) -Ever since Donald Trump's tariff salvo on India this week, garment maker Pearl Global - whose U.S. client list includes Gap and Kohl's - has been receiving midnight panic calls with an ultimatum: share the tariff hit or move production out of India. To calm U.S. customers' nerves, Pearl Global has offered to shift production to its 17 factories in Bangladesh, Indonesia, Vietnam and Guatemala to bypass the steep U.S. levies on Indian imports. "All the customers are already calling me. They want us to ... shift from India to the other countries," Managing Director Pallab Banerjee told Reuters in an interview. Trump's initial tariff proposals in April - which were lower for India than for the rival Asian garment hubs of Bangladesh, Vietnam and China - had been seen as an opportunity for India to rapidly expand in the $16 billion apparel exports market. But the tables have turned as relations between New Delhi and Washington have soured, with India now facing a 50% tariff, versus 20% for Bangladesh and Vietnam, and 30% for China. Pearl gets roughly half of its business from the United States. Some clients offered to continue taking products from India if it could share the tariff burden, but that is not viable, Banerjee said, without naming the customers. 'IN THE DOLDRUMS' The 50% U.S. tariff - comprising 25% that kicked in on Thursday and another 25% due to come into force on August 28 as a penalty for buying Russian oil - has stunned U.S. garment buyers and their Indian suppliers, who say they are considering taking their manufacturing operations beyond Indian shores, even to less-established garment hubs like Ethiopia and Nepal. Some exporters also say they have been asked by U.S. clients to put orders on hold. New Delhi has called Trump tariffs "extremely unfortunate". India's garment sector was already grappling with a labour crunch and limited production capacity. But the prospect of exporters shifting production outside India would also be a blow to Prime Minister Narendra Modi's "Make in India" policy drive. While Pearl can use its foreign factories to meet U.S. orders, exporters that rely on domestic factories are set to be hit much harder. RichaCo Exports has shipped $111 million of garments to the U.S. this year, with clients such as J. Crew Group, customs data shows. All were made in its more than two dozen factories across India. Around 95% of its annual Indian revenues come from the United States, said general manager Dinesh Raheja. "We're exploring setting up a manufacturing base in (Nepal's capital) Kathmandu," he said. "The industry is in the doldrums." ORDERS ON HOLD Earlier this week, India's biggest jeweller and watchmaker Titan told Reuters it was looking at shifting some manufacturing to the Middle East to maintain low-tariff access to U.S. markets. Amit Agarwal, finance chief of top Indian garment maker Raymond, said he was pinning hopes on the company's one factory in Ethiopia - which faces just a 10% U.S. tariff and could possibly add more production lines within three months to cater to U.S. clients. The tariff threat comes as India was emerging as a big alternative for U.S. garment buyers like Walmart, as Bangladesh faces a political crisis, and companies look to diversify supply chains beyond China. Indian garment hub Tiruppur in the south, considered the country's knitwear capital and which accounts for nearly one-third of apparel exports, was bullish about the future earlier this year when Reuters visited and talked to exporters. Panic has now descended on the hub. Some factories in Tiruppur have been asked by customers to hold orders, while some plan to ship as many goods as possible before the full 50% tariff kicks in, said Naveen Micheal John, executive director at Cotton Blossom India. "An importer, which had placed orders for underwear, has come back saying that if you haven't purchased yarns ... keep it on hold for now," he said. Some garments in Tiruppur cost U.S. clients as little as $1, while a women's or men's T-shirt can vary from about $3.5-$5, which could soon face 50% tariffs, said N. Thirukkumaran, general secretary of the Tiruppur Exporters Association. (Writing by Aditya Kalra. Editing by Mark Potter) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
