Hot Glazed Enchantment Inc., a franchisee of Krispy Kreme Doughnuts, Inc. (KKD), recently announced the reopening of Krispy Kreme Doughnut Factory in Arizona after the completion of the store renovation.
Hot Glazed Enchantment is the franchisee partner of the Krispy Kreme and is new to Arizona. Hot Glazed is planning to open more stores in the state in future. The latest Krispy Kreme unit is located at 6627 East Superstition Springs Blvd in Mesa, Arizona.
Krispy Kreme remains committed to its plan of expanding its business in both international and domestic markets. In the first quarter of 2013, the company stated its plans of opening 5 to 10 company stores, 10 to 15 domestic franchise stores and more than 75 international franchise stores in 2013. Recently, Krispy Kreme entered into development deals for expanding in India over the next five years.
Winston-Salem, North Carolina-based, Krispy Kreme is a renowned retailer and wholesaler of superior quality doughnuts, beverages, and treats and packaged sweets. The company also operates franchise stores and manufactures and sells doughnut mixes, doughnut-making equipment and other ingredients and supplies. As of January 29, 2012, it operates 92 company-operated doughnut shops in 19 states across United States and the District of Columbia, 142 domestic franchise stores in 29 states across United States and 460 international franchise shops in 20 countries.
Krispy Kreme, which competes with Starbucks Corporation (SBUX) and Brinker International Inc. (EAT), currently retains a Zacks #4 Rank, which translates into a short-term Sell rating. We are also maintaining our long-term Neutral recommendation on the stock.
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