WINSTON-SALEM, N.C. — Krispy Kreme Doughnuts Inc. has signed a development agreement with Hagar verslainr ehf. to open five Krispy Kreme shops in Reykjavik, Iceland, on Nov. 5.
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| Dan Beem, senior vice-president and president, international at Krispy Kreme Doughnuts |
“We are excited to bring the joy that is Krispy Kreme Doughnuts to Iceland with a very knowledgeable partner,” said Dan Beem, senior vice-president and president, international at Krispy Kreme Doughnuts. “The unique hot Original Glazed donut provides an experience unlike any other, and we are thrilled to bring that experience to Iceland later this year.”
Hagar verslainr ehf. is a retailer in the Icelandic market with core activities in the grocery sector. The new Krispy Kreme shop will be the newest feature at Hagkaup’s Flagship HyperMarket located in the Smáralind Mall.
“Krispy Kreme is a great addition to our Hagkaup stores in Iceland,” said Gunnar Ingi Sigurðsson, chief executive officer of Hagkaup. “We are extremely pleased to be able to offer our customers this new donut and coffee experience in the beginning of November.”
Iceland will be the 29th country in which Krispy Kreme shops are located. The company currently operates more than 1,100 shops around the world.
Net income at Krispy Kreme Doughnuts, Inc. totaled $9,416,000, equal to 15c per share on the common stock, in the first quarter ended May 1, down 12% from $10,666,000, or 16c per share, in the same period a year ago. Net revenues increased 3% to $136,484,000 from $132,474,000.
