Krispy Kreme shares jumped 40% after deal with McDonald’s – Kommersant
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Krispy Kreme announced on Tuesday that its donuts will soon be sold in all McDonald’s restaurants in the United States. After the release of this news, the company’s stock quotes rushed up, and at the end of the trading day their value increased by almost 39.4%. After the close of trading, shares of the donut maker rose another 3.4%.
Krispy Kreme will begin selling its donuts in 160 McDonald’s restaurants in Kentucky in 2022 as an experiment. As the company notes, demand exceeded expectations, and therefore a decision was made to expand cooperation. In the second half of this year, Krispy Kreme donuts will begin appearing in McDonald’s restaurants outside of Kentucky. By the end of 2026, they will be sold at all points of the fast food chain.
Krispy Kreme said its partnership with McDonald’s will allow it to double its number of outlets. The shares of the company, which went public in 2021, have all this time been quoted below the IPO price. The company ended last year with a net loss of $36.6 million, and its operating profit and margin were halved compared to 2022.
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