Krispy Kreme doughnuts might expand their availability to additional McDonald's outlets soon. This announcement was made on Thursday by Mike Tattersfield, the departing CEO of Krispy Kreme, during the company's third-quarter earnings report release.
"We are also excited about our continued partnership with McDonald’s, which we believe has validated the attractiveness of the quick-service restaurant channel," Tattersfield said.
"While nothing has been finalized, we are in advanced discussions about expanding the partnership and are making investments in the U.S. that reflect our confidence in further scaling our Delivered Fresh Daily network," he continued.
McDonald's and Krispy Kreme are in talks to expand partnership https://t.co/xkbeB4eyQK
— CNBC (@CNBC) November 9, 2023
Last year, McDonald's started offering Krispy Kreme doughnuts at nine of its locations in the Louisville, Kentucky area, featuring three varieties of doughnuts in a limited operations trial.
In February McDonald's broadened this trial, making Krispy Kreme doughnuts available at approximately 160 locations in Kentucky, with options including the original glazed doughnut, the chocolate iced doughnut with sprinkles, and the chocolate iced "Kreme" filled doughnut.
Although Tattersfield expressed enthusiasm about the possible further expansion of the collaboration with McDonald's, Krispy Kreme's stock experienced a decline after the release of its earnings report. This report revealed that the company did not meet Wall Street's revenue expectations.
In their last quarter's report, Krispy Kreme announced a net revenue of $407.4 million, marking a 7.9% increase from the third quarter of the previous year.
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