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WINSTON-SALEM, N.C. -- Krispy Kreme Doughnuts is prepared to adapt to the low-carb dieting phenomenon it blames for a drop in sales of their sugary and indulgent snacks, the company's top executive said Wednesday.
"The way we're looking at it is we're going to assume that it is" here to stay, CEO Scott Livengood said at the company's annual meeting. "And we make our plans and do things in a, call it a worst-case scenario. I think there is always a real possibility that people are going to decide a balanced lifestyle is appropriate for them and the dynamics will change again. But on the other hand we're not going to take anything for granted."
Since the company's profitable surge after going public in 2000, Krispy Kreme products have been a prominent fixture in numerous convenience store chains. However, the company reported Tuesday that it lost $24.4 million in the first quarter, its first quarterly loss since 2000. The company's stock has fallen by about a third in the past month.
The company will continue expanding overseas, operate more efficiently and introduce new products to attract customers who aren't going low-carb, according to Krispy Kreme executives.