Krispy Kreme to create 500 jobs through expansion programme
David Woods, March 07, 2012
Doughnut retailer, Krispy Kreme UK, is to create 500 new jobs as part of expansion exercise in a bid to double its UK presence by 2015.
The company yesterday released financial results showing a 26% increase in revenues and accelerating like-for-like sales.
Krispy Kreme served more than 50 million doughnuts in 2011 and 1 million cups of coffee. Alongside these strong sales, strategic geographical expansion into Bath, Cardiff, Liverpool, Leeds, Sheffield, Preston and Stratford, and new agreements with Welcome Break and Roadchef, helped the retailer's revenues rise to £42.2 million over the last 12 months (2010: £33.4 million) and like-for-like sales rise 3.5% (2010: 1.4%).
The store opening in Preston in December means Krispy Kreme UK now employs 1,000 staff, and the business continues to focus on creating 500 new jobs through its ongoing nationwide expansion plans.
Krispy Kreme now operates 46 stores and more than 400 branded cabinets across the country, and in 2010 announced plans to double its UK presence by 2015. In October, joint MDs Rob Hunt and Richard Cheshire led a £25 million MBO backed by private equity firm, Alcuin Capital.
Hunt said: "We've been focussing on delivering the best possible Krispy Kreme experience for our customers this year, which has meant investing heavily in our core business - we're constantly striving to make every visit to a store special. 2011 has also been about investing in our team, creating new jobs as we grow and supporting our existing people in achieving their own aims."
Cheshire added: "The response to our new store openings has been fantastic and has far exceeded our expectations - we're so grateful to our loyal customer base and are proud to be winning new fans every day. The next 12 months will see us bringing Krispy Kreme to even more people across the UK. We'll be opening in new cities, improving our existing stores and working hard to develop exciting and delicious new products, while consistently making the best doughnuts we can."