Krispy Kreme Corporation Essay

1358 WordsJun 22, 20126 Pages
Krispy Kreme Corporation Patti Lever, Theresa Germanovich, Celestin Moundzieho, Danielle Himsey ACC/290 April 7, 2012 Kevin Waters Krispy Kreme Corporation The Krispy Kreme legacy began back in 1933 with a hand-written recipe which was scribbled on a piece of paper in Paducah, Kentucky. Amazingly this company has grown over a period of 65 years and today is still growing all across America. It was founded by Vernon Rudolph and his uncle who purchased the donut shop and when the donuts became popular, Vernon began food delivery via bicycle to his customers to his eager customers. Soon thereafter, Vernon made the decision to move his operation to Nashville and then decided to sell the Nashville division and move again to North Carolina to open his own donut shop. This is when he began to sell his own donuts to the customers along with the grocery stores and soon created the Krispy Kreme logo. This is how Vernon upgraded and achieved the Krispy Kreme delivery system along with the van with a logo on the side. Krispy Kreme is a branded retailer and wholesaler of doughnuts, complementary beverages and treats and packaged sweets. Headquartered in Winston-Salem, N.C., the company’s principle business consists of owning and franchising Krispy Kreme stores. The company generates revenues from four business segments: Company stores, domestic franchise stores, international franchise stores, and the KK Supply Chain (Krispy Kreme Doughnuts Inc., 2011). The company is known as a parent company because it owns more than 50% of the common stock of another company(s), called a subsidiary (affiliated) company. As such the company prepares consolidated financial statements in addition to the financial statements for the individual parent and subsidiary companies. According to Kimmel, Weygandt, and Kiesco (2009), consolidated statements are useful to the stockholders,

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