Krispy Kreme has been working on its total brand transformation — from doughnut bakery to the newly dubbed “doughnut logistics company” — for a couple of years now, and the overhaul is nearly complete. As Krispy Kreme continues to work on either closing underperforming stores or turning them into hubs to fulfill orders to grocery and convenience stores, the focus on the “Delivered Fresh Daily” strategy was a driving force of the 12.5% revenue growth for the first quarter ended April 2, as doughnuts are now available to a wider range of customers.
While Krispy Kreme continues to add global points of access to doughnuts through grocery and convenience store doors and more — with 350+ PoA added this quarter — the company keeps closing traditional bakeries, with 29 shops closed or converted to distribution hubs last quarter. Global brand reach is only at 5%, CEO Mike Tattersfield said, so the company has a long runway for growth and doughnut access globally.
