Doughnut retailer Krispy Kreme Doughnuts Inc. said Thursday its net loss widened in the fourth quarter due to charges and a dip in doughnut sales.
For the quarter ended Feb. 3, the company reported a loss of $31.8 million, or 50 cents per share, compared with loss of $24.4 million, or 39 cents per share in the prior year quarter.
The company said its results included impairment and lease termination costs of about 43 cents per share and a charge of $3 million for payments under the company's guarantees of a portion of debt and leases of a franchisee.
Revenue fell 1 percent to $110.9 million from $112.2 million in the 2007 fourth quarter.
The company said its average weekly sales per store fell about 9 percent. Krispy Kreme added its international stores performed better than its U.S. locations.
The net loss also widened for the full year to $67.1 million, or $1.05 per share, from $42.2 million, or 68 cents per share in the prior year.
Revenue dropped 7 percent to $429.3 million from $461.2 million in 2007.
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