Quote of the Day - A donut without a hole ... is a danish.
- Chevy Chase, SNL
Now there's a news flash. Shareholders expected the company to warn them about that? I don't know about you, but even if you don't watch the news, read newspapers, or (God forbid) scour blogs on the internet, certainly one or more of your friends is on an Atkins diet. You don't have to be a rocket scientist to figure out the diet craze is going to hurt sales. In fact, even if you are a Krispy Kreme shareholder, you've probably cut back on your own intake.
Disgruntled shareholders filed a lawsuit in North Carolina last week, and more suits are on the way. Also not surprisingly, KKD.N stock is down.
Surely, a lot of carbohydrate-laden food companies are blaming Atkins for what may be their own mismanagement, and it's becoming a bit of a pastime to do so. But, maybe Krispy Kreme will turn the corner with a low-carb doughnut, as other companies have done.
Other people, however, consider the company's doughnuts part of a religion. I don't know about that, but they're holey to me.