MCD - Why Krispy Kreme Stock Saw Sweet Gains in March
2024-04-04 15:59:31 ET
Shares of Krispy Kreme (NASDAQ: DNUT) rose 18% in March 2024, according to data from S&P Global Market Intelligence . The gains were baked on the fires of a game-changing collaboration with another food-service veteran -- mighty McDonald's (NYSE: MCD) .
In a joint press release, Krispy Kreme and McDonald's announced the expansion of a small-scale test project . What started in the fall of 2022 as a nine-store distribution test in Louisville expanded to 160 Kentucky locations last summer, and now they're going nationwide. Three classic Krispy Kreme donuts will become widely available at McDonald's restaurants over time, aiming to cover the whole store network by the end of 2026.
Krispy Kreme stores nearby will deliver freshly baked donuts every morning, available as single-pastry snacks or half-dozen boxes. This deal more than doubles the locations in Krispy Kreme's overall distribution network.
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Why Krispy Kreme Stock Saw Sweet Gains in March