A slower rate of inflation than others
DNUT IS A LONG
After successful pricing to cover inflation, Krispy Kreme Inc. raised and tightened its guidance for full-year revenue and earnings. Krispy Kreme said it anticipates revenue for 2021 between $1.37 billion and $1.385 billion, with the top end of the range now above its previous $1.34 billion to $1.38 billion estimates, with a revenue consensus of $1.37 billion for 2021. It now expects (A)EBITDA of $182 million to $187 million, whereas its previous forecast of $178 million to $185 million. The shift in estimates results from better-than-expected growth and both in both its U.S. and international businesses, and the company has been able to pass through price increases in the U.S. in September and November to cover inflation. Krispy Kreme said that over the longer term, it continues to expect organic revenue growth of 9% to 14% and (A) EBITDA growth of 12% to 14%, with those targets expected to be exceeded in 2022.
Press Releases From Europe
BYND is a SHORT
With few opportunities for growth in the USA, BYND needs an international story to develop soon. Last week, the company announced the appointment of "food industry veteran" Jorg Oostdam to the General Manager's newly created leadership position, Europe. He spent 15 years at Mars. Mr. Oostdam will drive Beyond Meat's expansion in Europe and accelerate its strategic growth worldwide. Given that the company has a propensity to issue press releases, we expect to see a lot more from Europe due to this new position. Adding to that, the company announced today that it had finalized the lease for a new research and development center in Shanghai. The company says the investment is part of its larger global expansion strategy. The facility will be BYND's first dedicated R&D facility outside the United States and serve as a hub for innovation. The new R&D center will be equipped with what the company calls state-of-the-art technology and cutting-edge lab facilities, including a pilot lab and sensory testing capabilities.
Tik Tok Delivery
From viral videos to restaurant delivery
That's precisely what the company is about to become in the U.S. with the announcement of TikTok Kitchen, which will take viral food videos to the next level with a food delivery service. The social network partners with Virtual Dining Concepts to turn meals from popular TikTok videos into authentic dishes that users can order. TikTok Kitchen will launch in about 300 US locations in 2022. The company already has plans to serve more than 1,000 locations by the end of next year. Customers will be able to order dishes that have gone viral on TikTok, such as baked feta pasta, a smash burger, corn ribs, and pasta chips. As noted by TechCrunch, baked feta was one of the most searched dishes on Google in 2021 after it gained popularity on TikTok. It's unknown whether these dishes will be permanent on the TikTok Kitchen menu or if they will be available for a limited time. The report mentions that the creators will receive credit for these dishes, which will be "featured prominently throughout the partnership." "Proceeds from TikTok Kitchen sales will go to both support the creators who inspired the menu item and to encourage and assist other creators in expressing themselves on the platform in keeping with TikTok's mission to inspire creativity and bring joy to its users," TikTok said. TikTok notes that the idea of TikTok Kitchen is more about offering foods that have gone viral on the web to fans rather than an attempt by TikTok to become an actual restaurant. TikTok Kitchen is expected to be launched in March 2022.
