Winston-Salem, NC- Krispy Kreme Doughnuts Inc. is continuing its expansion plans at a slower pace after facing Wall Street’s gloomy forecast and an official investigation launched by the Securities and Exchange Commission last week.

Initially, Krispy Kreme had planned to open 100 stores in 2004. But, during the second quarter, the company’s statewide sales grew just 14.8%, a significant decrease from the 24% increase posted during the first quarter.

As a result, Krispy Kreme lowered its new store-opening program for this year to just 60 stores. At the end of the second quarter, Krispy Kreme had a total of to 423 stores in operation – 32 new stores opened during the second quarter and nine closed. Eight more stores are planned to open this year including a second store in England and the first Krispy Kreme in Korea.

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