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 Although
our attitude has mellowed somewhat since we filed "I
HATE Krispy Kreme"
we were vaguely aware that the company was meeting with some resistence
in their assault on Dunkin’ stronghold New England. Then, when
flimsy boxes of cold, crusty Krispies appeared on the shelves of Shaw’s
Supermarkets, we knew they were in trouble for real.
Details from todays
Boston Globe:
After all the hullabaloo in the last couple of years about
its expanding nationwide, the North Carolina-based doughnut chain’s sales
and stock price have gone stale. Late last year, the company reported a
$3 million quarterly loss. More ominous still, management is under investigation
by the Securities and Exchange Commission over its financial reporting,
and shareholders have filed suit in federal court alleging the company
cooked the books to show healthy profits, even though it knew sales were
crashing. Yesterday, the company announced it would lower reported profits
for the last three quarters of the year ending February 2004.
from the
Boston Globe
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