CHARLOTTE, NC. — E-commerce and global sales boosted Krispy Kreme, Inc. results during the second quarter ended July 2, continuing a trend the company has seen from its aggressive omnichannel, hub-and-spoke distribution expansion. Krispy Kreme’s global points of access increased 12.8% in the quarter to 12,872, compared with the same quarter a year ago, while international sales per hub increased 3%.

Net revenues in the United States increased 9.3% to $22.8 million and organic revenue grew 12.7%, largely led by e-commerce sales. Internationally, net revenues increased 4.8% from the same quarter a year ago, which the company attributed to increased pricing and points of access growth of 245 locations, or 7%.  E-commerce as a percentage of retail sales grew 260 basis points.

Executives of Charlotte-based Krispy Kreme reaffirmed previous guidance for the full year 2023, which projects net revenues of $1.65 billion to $1.68 billion, or an increase of 8% to 10%. Organic revenue growth is expected to be in a range of 9% to 11%.

“I am proud of the results we delivered in the second quarter, which were bolstered by our continued focus on expanding our hub-and-spoke model as we leaned heavily into our omnichannel and DFD (Delivered Fresh Daily) capabilities as well as our international expansion strategy,” said Mike Tatterfield, chief executive officer. “We executed the strongest and largest National Doughnut Day in our history, which we now celebrate in a dozen countries. We are also pleased with our continued global expansion, as we opened three new markets during the quarter in Chile, Jamaica, and Costa Rica, all exceeding our revenue growth targets.”

During the second quarter, Krispy Kreme invested $27.7 million in capital expenditures, or 6.8% of revenue, to support the growth of hot light theaters, cookie shops and DFD Doors.

Net income totaled $223,000 in the second quarter ended July 2, which compared with a loss of $3.85 million in the same period a year ago. Total net revenue increased 9% to $408.9 million and product sales totaled $400 million, up from $367 million a year ago.

“We look forward to capitalizing on a strong start to the year in the back half of 2023 and delivering profitable growth as we focus on our capital efficient hub-and-spoke model and omnichannel strategy,” Mr. Tattersfield said. “We continue to expect to open in three to five additional markets in 2023, and recently opened in Switzerland, which marked our first opening in Continental Europe to be followed by France before year-end. Overall, we remain on our path to grow global points of access and become the most loved sweet treat brand in the world.”