Joshua Charlesworth on business turnaround
From Josh Charlesworth, President and CEO, Krispy Kreme — Doughnuts to Dollars: An iconic American bra... · · ICR
“What we found in 2025 to your question was that we faced a situation where the growth wasn't profitable enough. And our balance sheet wasn't strong enough. And so we decided to implement a business turnaround specifically to maintain the growth in the long run. But in the short term ensure that all the revenue streams were profitable.”
On , Joshua Charlesworth, President, Chief Executive Officer & Director at KRISPY KREME INC, spoke about business turnaround during Josh Charlesworth, President and CEO, Krispy Kreme — Doughnuts to Dollars: An iconic American bra... on ICR.
About Joshua Charlesworth
Josh Charlesworth, President and CEO of Krispy Kreme, has been discussing the company’s turnaround strategy, which he said was implemented in mid-2025 after the company determined that its growth was not sufficiently profitable and its balance sheet was not strong enough. Charlesworth stated that the company has focused on making revenue streams more sustainable and profitable, including exiting unprofitable distribution to some fresh delivery customers and outsourcing the logistics of delivering donuts to grocery and convenience stores to third-party experts. He noted that the company expects system-wide sales to increase 2% to 4% in constant currency in 2026, to over $2 billion, driven primarily by international expansion and the opening of at least 100 new franchise shops. Charlesworth has also addressed the impact of GLP-1 weight-loss medications on consumer behavior. He said that Krispy Kreme conducted research indicating that consumers who use these medications are as likely as non-users to purchase sweet treats for holidays and special occasions, with a focus on quality and taste. He characterized Krispy Kreme donuts as a product typically purchased two to three times per year for sharing and special occasions, and stated that the company has not seen a significant impact from GLP-1s on its sales. In the first quarter of 2026, the company reported narrowed losses and expanding margins, and Charlesworth highlighted strong demand during events such as Valentine’s Day and the promotion of an Artemis 2-themed donut.