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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: Lost1 who wrote (5711)	12/10/2001 1:16:50 AM
From: Peach	Respond to of 23786

LOL! Now that you have that out of the way, it is only up from here.

To: Lost1 who wrote (5711)	12/10/2001 1:17:09 AM
From: Lost1	Read Replies (1) \| Respond to of 23786

Oh NO!! Krispy Kreme Set to Open in Canada By Rajiv Sekhri TORONTO (Reuters) - In a battle between sweet-treat giants, U.S.-based Krispy Kreme Doughnuts Inc. (NYSE:KKD - news) will go head-to-head with Canadian coffee-and-doughnut icon Tim Hortons next week when it opens its first store in Canada. Krispy Kreme plans to open 32 stores over six years in Ontario, Quebec and the Atlantic provinces, Roly Morris, president and chief executive of KremeKo Inc., told Reuters on Tuesday. KremeKo is a private firm that is 34 percent owned by Krispy Kreme and is heading the Canadian expansion. The first store will open in Mississauga, Ontario, just outside Toronto, on Dec. 11. But the U.S. invader's 32-store chain will be up against more than 1,900 operating under the flag of Tim Hortons, part of U.S.-based burger giant Wendy's International Inc. (NYSE:WEN - news). Krispy Kreme will also be facing off against Second Cup Ltd. (SKL.TO), which operates nearly 400 coffee shops across the country -- not to mention the Coffee Time and Starbucks (Nasdaq:SBUX - news) chains. With all the coffee shops, notes KremeKo, Canadians eat more doughnuts than citizens of any other country in the world. There are 3,200 doughnut shops in the country versus 10,000 in the United States, whose population is nearly 10 times that of Canada. Krispy Kreme expects to feel at home. It says that in less than three minutes its 200 plus stores can make enough doughnuts to make a stack the height of Toronto's 1,815-foot CN Tower. Its stores are popular in the United States for their glazed doughnuts, served hot, and for letting customers see the treats being made -- from the mix to the finished product rolling under a sugar-glaze waterfall. ``We only carry doughnuts. We don't do anything else. We don't do soups, salads, sandwiches, croissants, danishes,'' Morris said, adding that his stores also sell hot and cold drinks. The Winston Salem, North Carolina-based baker's focus has helped expand sales and earnings even during tough economic times. Third quarter earnings rose 63 percent to $6.5 million, or 11 cents a share. System wide sales, including those at franchised stores, grew 37.5 percent to $154.4 million. But competitor Tim Hortons also reported same-store sales increases between 6 percent and 7 percent during October, according to Wendy's. ``We really are an affordable indulgence whether you are on a budget or a diet,'' Morris said. The Canadian stores, each of which will cost $1.3 million excluding real estate, will be corporately owned, said Morris, who most recently was zone vice-president for the Canadian and Pacific Northwest operations of Starbucks. Phone calls made to Tim Hortons seeking comment on the new arrival were not returned. Morris said people from Toronto and other cities near the United States, such as Niagara Falls, often head to Buffalo, New York, to buy Krispy Kreme doughnuts. ``There are a great number of people going across the border to get the product and they're bringing dozens and dozens of doughnuts back,'' Morris said.