Losses at Krispy Kreme more than double to €3m as doughnut maker hit by lower footfall and rising costs

Chain was hit by a tough economy, lower store footfall, and escalating costs.

The Krispy Kreme Doughnuts store on St Patrick's Street, Cork City. Picture: Cian O'Regan.

Pre-tax losses at the Irish arm of doughnut maker Krispy Kreme last year more than doubled to €3.07m as a challenging economic environment impacted store footfall and rising cost pressures.

New accounts show pre-tax losses at Krispy Kreme Ireland Ltd last year increased by 136% as revenues dipped by 4.6% from €14.1m to €13.47m.

The pre-tax loss of €3.07m for 2025 followed a pre-tax loss of €1.3m in 2024 and the revenue decline in 2025 followed revenues reducing by 5.5% from €14.94m to €14.1m in 2024.

The directors state that the company began 2025 with a clear growth agenda ahead “and has operated in a challenging economic market environment with macroeconomic factors affecting footfall in the shops and cost pressure in all input cost lines”.

The directors state that the company “navigated challenging market circumstances in 2025” with high inflation impacting consumer disposable income, input cost and lack of labour and goods in the marketplace impacting operations.

Losses at the firm increased by a non-cash impairment cost of €692,000 of property, plant and equipment and the directors state that the impairment exercise was carried out to estimate future trading impact of the challenging macroeconomic environment.

The number of Krispy Kreme retail locations remained at 14 and the directors state that the company continued to grow access points in its Fresh Delivery business with several partners.

The directors state that they continue to monitor the ongoing impacts of the economic challenges and the inflationary pressures on the economy and are taking appropriate actions as necessary to mitigate the short and long-term risks.

The doughnut maker’s retail locations here include the Swords Pavilions Shopping Centre in north Dublin, Liffey Valley Shopping Centre, Dundrum Town Centre and One Central Plaza, Dame Street in Dublin along with outlets in Galway, Limerick and Cork.

It is now eight years since Krispy Kreme Ireland opened its then record-breaking doughnut-selling store in Blanchardstown in September 2018.

The directors state that the premium quality doughnuts are freshly made every day with quality ingredients, utilising a secret recipe, in a vertically integrated production process.

On the commercial risks facing the company, the directors state that they “expect 2026 to present a challenging commercial environment, particularly as the ongoing macro-economic environment creates uncertainty for consumers future behaviour but remain confident that the company is well positioned to continue to be successful by providing an excellent product and service experience”.

The firm recorded Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) of a €211,000 loss in 2025.

The company recorded an operating loss of €2.72m and after taking into account finance charges of €347,000, the firm recorded a pre-tax loss of €3.07m.

The loss last year takes account of non-cash depreciation costs of €1.81m and operating lease costs of €1.1m.

Numbers employed increased from 167 to 176 last year as staff costs rose from €4.95m to €5.45m.

Directors’ pay totalled €134,000.

At the end of December 28th last, the company’s accumulated losses stood at €2.23m. Cash funds reduced from €1.16m to €684,000.