Krispy Kreme UK records higher sales but 2020 growth plans interrupted by Covid-19 crisis
Doughnut retailer Krispy Kreme’s UK division has said it wants to invest in expanding here, despite closing some stores due to Covid-19 disruption.
The US-headquartered brand, which operates from more than 100 sites in Britain, outlined the expansion plans as it filed accounts that show the company recorded sales growth last year.
In the year to December 2019 UK revenue rose 13.2% to £94.1 million and pre-tax profits were flat at £8.5 million.
This year the firm had to temporarily close its manufacturing and retail sites for the lockdown, and it said its “ambitious growth plans” were interrupted in the short term.
The retailer’s strategic report said: “The company has carefully considered the potential impacts of the pandemic on the UK economy and as a result has made the decision to close a small number of its retail shops in 2020.”
However, it added that it will continue to expand its presence, with plans to open shops in “quality, high profile locations” this year and beyond.
The firm also said: “Investment in digitally enhanced cabinets, further development of ecommerce capability and adding capacity in our manufacturing network will enable the provision of an enhanced customer experience in the longer term.”
Krispy Kreme, which was founded in 1937, is ultimately owned by investment group JAB Holding.
