Krispy Kreme

The CFO of Krispy Kreme: “we effectively ended the year with double-digit price increase for the year in the U.S., high single-digit on average across the world.” “John Glass — Morgan Stanley — Analyst: Thank you. And just finally, what is the full pricing now that you’ve taken a couple of price increases in the U.S., what — in U.S. and Canada? What is that running now? And what is your assumption on overall inflation in the P&L in ’22, so we can gauge how that offsets that inflation, please? Josh Charlesworth — Chief Operating Officer and Chief Financial Officer: Yes. I mean, Q4 obviously has shown a fresh premium sweet treat business like ourselves. We can manage that inflationary environment that you referenced with price increases. After the November 1, we effectively ended the year with double-digit price increase for the year in the U.S., high single-digit on average across the world.” (Krispy Kreme, Q4 2021 Earnings Call, 2/22/2022)

The CFO of Krispy Kreme stressed they could have “further price increases to still grow our margins” and that they had “actually already covered” most of their input costs. “Josh Charlesworth — Chief Operating Officer and Chief Financial Officer: The guidance we’ve given here today does assume that we’re able to manage both from that price increase and if we so choose, if needed, further price increases to still grow our margins in 2022. More specifically to your question, I mean, on wage inflation, we did see it accelerate through 2021. It’s more stable now. We’re assuming high single digit for 2022. And on the input cost side, we have a great line of sight of that because we have actually already covered more than half of the year. Sugar is fully covered for the year, oil and gasoline through 2023. So it means we have a lot of confidence in our ability to deliver on the margin increase that we’ve been talking about already.” (Krispy Kreme, Q4 2021 Earnings Call, 2/22/2022)