In today’s SEC filings digest, Krispy Kreme earnings rise, Lands’ End profits increase, and Vera Bradley profits drop 49%.
Filing in Focus: Krispy Kreme 8-K, September 9, 2014
Krispy Kreme Doughnuts, Inc. (KKD) announced its financial results for the second fiscal quarter of 2014, posting a rise in earnings from a year ago. The doughnut retailer saw revenues increase by nearly 7% to $120.5M, beating analyst expectations of $118M. Domestic same-store sales rose 2.8% while international same-store sales fell 2.4%. Krispy Kreme earnings rose from the year-ago $4.7M and $0.07 per share to $5.8M and $0.08 per share while adjusted earnings fell from $0.14 to $0.13 per share, missing analyst predictions at $0.16 per share. Krispy Kreme has made several business partnerships this year, including grocery aisles in Wal-Mart (WMT) and a K-Cup agreement with Green Mountain Coffee Roasters (GMCR). CEO Tony Thompson commented that revenue in company-owned stores was a priority and the company did well as it seeks to improve traffic and sales.
Lands’ End Inc. (LE), which was spun off earlier this year from Sears Holdings Corporation (SHLD), announced its quarterly results for the second quarter of fiscal year 2014. The apparel company, which was purchased by Sears in 2002 for $1.9B, was spun off in April to allow Sears to focus on its core business. Lands’ End revenue grew 5.4% to $347.2M while the company’s direct business, which comprises internet and catalog sales, rose 7% to $292.6M. Lands’ End earnings increased from $11.3M and $0.35 per share in the year-ago quarter to $11.8M and $0.37 per share. CEO Edgar Huber remarked that the retail environment was challenging but that the company continued to make positive progress towards improving its brand and visibility with consumers.
Vera Bradley, Inc. (VRA) announced its financial results for the second quarter of fiscal year 2014, reporting a 49% drop in profits from a year ago. The accessories retailer saw profit drop from $15M and $0.37 per share to $7.6M and $0.19 per share, within its projected range between $0.18 and $0.20 per share. Revenue dropped 4% to $120.1M, just above its expected range between $113M and $120M. The company, which is struggling to attract new customers, is being pressured in a highly promotional retail environment. CEO Robert Wallstrom is seeking to transform the company amid these struggles and reinforced its earnings guidance between $1.00 and $1.10 per share.← Back to all news