Some units are just no longer profitable, while others are shutting down in an effort to keep the company as a whole afloat.
. These closures are more of a pruning of low-performing stores rather than signs of widespread company issues.inability to bring in viable profits
and customer traffic. The closures seem to have the desired effect as the chain generated $1.52 billion in net revenue by the end of the year. The brand is seeing success from trying to hone in on quality over quality and still has faith in the current business model. "We remain very confident in our long-term goal of achieving more than 50,000 points of access globally," Krispy Kreme president and CEO Mike Tattersfield said. This will include the"hub-and-spoke" business model—where larger locations complete with donut production facilities called"hubs" ship out donuts to smaller shops called"spokes"—to perfect the art of donut freshness and customer satisfaction.
A version of this story was originally published in April 2023. It has been updated to include new information.Zoe Strozewski is a News Writer for Eat This, Not That! A Chicago native who now lives in New Jersey, she graduated from Kean University in 2020 with a bachelor’s degree in journalism.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Renowned SF chef is closing his Berkeley restaurantUC Berkeley fast-casual Vietnamese restaurant Rice & Bones' last day is May 12.
Read more »
ACL Music Festival: Lineup for 2023 includes Kendrick Lamar, Shania Twain, Foo FightersLINEUP ANNOUNCED! aclfestival has revealed who will be performing at Zilker Park this October. Tix go on sale at 12 PM (CT) today! Details here:
Read more »
Volvo EX30 due out in June 2023 as entry-level electric crossover - AutoblogDue out in June 2023, the Volvo EX30 will land as an electric-only, entry-level crossover that looks smaller than the XC40.
Read more »
What to Expect at Google I/O 2023, and How to Watch ItTune into Google's annual developer conference tomorrow at 1 pm EST, 10 am PST to get the latest updates on Pixel, Android, Matter, and AI chat. Here's how you can watch:
Read more »
Apple announces 2023 Apple Watch Pride band with bold new designAfter the iOS code leaked the upcoming 2023 Apple Watch Pride band and face, Apple has now announced it to celebrate the LGBTQ+ community.
Read more »
What Will 2023 Bring for Homeowners and Potential Homebuyers?Amid low inventory and rising interest rates, some are painting a bleak picture for potential homebuyers in 2023. But some surveys suggest buyers remain optimistic. Compare reports from FortuneMagazine, insider and foxbusiness:
Read more »