Krispy Kreme shares plunged nearly 25% after the company withdrew its full-year guidance and suspended its quarterly dividend, according to The Wall Street Journal. The doughnut chain cited economic uncertainty and a delayed rollout of its McDonald’s partnership. Krispy Kreme widened its loss in the first quarter to 20 cents a share, compared with its loss of 5 cents a share in the prior-year period. On an adjusted basis, the loss was 5 cents per share, in line with expectations.Revenue fell 15% to $375.2 million, missing the $384.4 million forecast, primarily due to the prior divestiture of Insomnia Cookies. Krispy Kreme now expects Q2 revenue between $370 million and $385 million, below FactSet’s $393.9 million estimate.
