09:37 ET - The Krispy Kreme story has fallen apart, and the speed at which it did is shocking, says Truist Securities' Bill Chappell in a research note. The doughnut chain on Thursday withdrew its outlook for the year and said it will stop paying a quarterly dividend in response to the cautious economic climate; it also cited uncertainty around its deployment schedule with McDonald's after it entered into a partnership with the fast-food giant earlier in the year. After several messages indicating things were going to plan, Chappell says he's shocked by the speed at which Krispy Kreme's story fell apart. "We no longer have high conviction in management's previously stated strategy and execution of these initiatives, and it will likely take several quarters before we or investors can regain confidence," says the analyst. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
May 09, 2025 09:37 ET (13:37 GMT)
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