Krispy Kreme Lifts Sales Outlook as Refranchising and Cost Cuts Take Hold

Forecast lift and the numbers

Krispy Kreme raised its full-year net revenue view to 1.35 billion to 1.4 billion dollars and said results should land at least at the top of its previous range. That update lines up with the 1.38 billion dollars Wall Street expected. Third-quarter net revenue came in at 328.8 million dollars, topping estimates.

Management said momentum is strongest internationally, with the U.S. getting an extra lift from digital ordering and the company's fresh-delivery program. System-wide sales increased 1% in constant currency.

How the turnaround is working

The company has spent about a year cutting costs and chipping away at debt as it pushes a refranchising strategy. So far this year, 98 new shops have opened around the world, and nearly all of them are franchised.

Franchise-run locations generated about 42% of system-wide sales in the quarter, versus 25% for all of fiscal 2025. The company also exited lower-performing fresh delivery placements about a year ago and is concentrating on outlets with stronger traffic.

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Where growth is coming from and why it matters

CEO Josh Charlesworth said a growing share of sales is coming through the company's own website and app, helped by newer efforts to sell via Walmart's and Target's sites. He added that demand is largely steady despite concerns about GLP-1 weight-loss drugs and tighter consumer budgets, noting an increase in "double dozens" orders as shoppers look for better value.

The chain says it is somewhat insulated from budget pullbacks because guests typically visit two or three times a year and often buy for sharing, holidays, or special occasions. For investors, the mix shift toward franchising, online orders, and targeted fresh delivery suggests a leaner model with steadier cash needs and potentially more resilient revenue.

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