Krispy Kreme Revenue Rise Before Stock Market

Krispy Kreme announced a jump in revenue for the first quarter of 2021 as the donut chain prepares to return to the stock market after a 5-year hiatus, especially after demand for sweets surged during the pandemic.

The company raised $321.8 million in revenue in the quarter ended April 4, compared to revenue of $261.2 million in the same period a year earlier, prompting Krispy Kreme to file a confidential request last month to US regulators for an initial public offering.

Krispy Kreme was acquired by JAB Holding in a deal valued at about $1.35 billion in 2016 when the investment firm was betting heavily on the success of restaurants and cafes.

After being forced to stay at home for more than a year, vaccinated Americans began taking their daily orders from fast food restaurants, coffee shops and even donut shops, which was reflected in the sales of most fast food restaurants in the United States, after struggling for more than a year with limited sources of income by delivering meals through car windows or drive-thru, financial incentives also partly helped her business recover due to her support for spending by the common people.

Krispy Kreme was first floated in the stock market in 2000, but had to file for Chapter 11 bankruptcy in 2005, and in its current new offering, J.P.Morgan, Morgan Stanley, BofA Securities and Citigroup will be bookrunners and primary underwriters, and its shares will be included in the Nasdaq index under the “DNUT” banner.

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