McDonald's, Krispy Kreme in talks to expand partnership
Krispy Kreme donuts could soon be sold at more McDonald's locations
Former McDonald's CEO Jim Skinner analyzes the state of the fast-food industry as the U.S. economy slows, on The Claman Countdown.
Krispy Kreme doughnuts may soon be available at more McDonald's locations.
The revelation was made Thursday by outgoing Krispy Kreme CEO Mike Tattersfield in a statement accompanying the doughnut maker's third-quarter earnings report.
Krispy Kreme is in discussions with McDonald's to expand the companies' partnership. (Photo Illustration by Scott Olson/Getty Images / Getty Images)
"We are also excited about our continued partnership with McDonald’s, which we believe has validated the attractiveness of the quick-service restaurant channel," Tattersfield said.
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"While nothing has been finalized, we are in advanced discussions about expanding the partnership and are making investments in the U.S. that reflect our confidence in further scaling our Delivered Fresh Daily network," he added.
McDonald's logo is seen on the restaurant in Streator, Illinois, on October 15, 2022. ((Photo by Jakub Porzycki/NurPhoto via Getty Images) / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MCD | MCDONALD'S CORP. | 298.56 | +1.21 | +0.41% |
McDonald's began selling Krispy Kreme doughnuts at nine locations in and around Louisville, Kentucky, last year, offering three flavors of doughnuts as a small operations test.
Then in February, McDonald's expanded the market test, selling Krispy Kreme doughnuts at around 160 Kentucky locations, offering the original glazed doughnut, the chocolate iced with sprinkles, and the chocolate iced "Kreme" filled doughnut.
Krispy Kreme shares took a hit Thursday morning after the release of the doughnut-maker's third quarter earnings. (Photo Illustration by Justin Sullivan/Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DNUT | KRISPY KREME | 11.08 | +0.20 | +1.84% |
Despite Tattersfield's excitement over the potential further expansion of the McDonald's partnership, Krispy Kreme shares fell following the doughnut maker's earnings report, which showed that the company had fallen short of Wall Street's revenue estimates.
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Krispy Kreme reported net revenue of $407.4 million last quarter, up 7.9% from the third quarter of 2022.