Krispy Kreme Shares Drop 5.2% After Sales Fell Short

Krispy Kreme Doughnuts Inc. shares fell 5.2% in after-hours trading on Wednesday after its fourth-quarter sales fell short. The company said its fourth-quarter profit fell to $6.5 million, or 10 cents a share, from $14.8 million, or 21 cents, a year earlier. Sales rose to $125.4 million from $112.7 million. Excluding one-time items, Krispy Kreme said it earned 17 cents a share, matching the FactSet consensus estimate. Sales were short of analysts' average estimate of $127.9 million. Krispy Kreme forecast fiscal 2016 adjusted profit of 79 cents a share to 85 cents a share. It was expected to earn 84 cents a share, according to FactSet.