Krispy Kreme Earnings Could Take a Hit. Cybersecurity Breach Disrupts Online Orders. -- Barrons.com

Dow Jones12-11

Karishma Vanjani

Krispy Kreme shares fell early Wednesday after the company revealed a cybersecurity breach had disrupted operations.

On Nov. 29, the doughnut and coffee seller was notified about unauthorized activity on a portion of its systems, a regulatory 8-K filing says. Since then, cybersecurity experts have been working to remedy the incident, but Krispy Kreme is experiencing "certain operational disruptions, including with online ordering in parts of the U.S."

Krispy Kreme stock declined 1.2% to $9.99 in premarket trading Wednesday.

The full scope of the incident is unknown. Still, the loss of revenue, fees for its cybersecurity experts and other advisors, and costs to restore any impacted systems are "reasonably likely to have a material impact on the Company's results of operations and financial condition," the filing said.

Krispy Kreme is expected to report fourth-quarter results on Feb. 12, according to FactSet. Analysts had been expecting earnings per share of 10 cents on revenue of $416 million. Krispy Kreme does hold cybersecurity insurance and that is expected to offset a portion of the costs of the incident.

Write to Karishma Vanjani at karishma.vanjani@dowjones.com.

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

December 11, 2024 09:08 ET (14:08 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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