Krispy Kreme warns that a cyber attack will negatively impact results

What you need to know

• Krispy Kreme has reported that it suffered a cyber-attack last month, which caused major disruptions to its business.
• Donut makers in the U.S. have reported that online orders are affected.
• Krispy Creme warns that costs associated with breach of security will have a negative impact on its financial performance.

The shares of Krispy Kreme (DNUT), a donut manufacturer, fell on Wednesday following a cyber-attack that caused disruptions and will negatively impact its financial results. 

The company wrote in a regulatory filing that it learned on Nov. 29 of the breach, and while shops were open and customers could order in person, the company experienced "certain operational disruptions, including with online ordering in parts of the United States.” It added that daily fresh deliveries to retailers and restaurant partners were not affected.

Krispy Creme has warned “the incident will have and reasonably is likely to continue having a material effect on our business operations, until we are able to complete the recovery process.”” It added the costs associated with dealing with the attack will likely "have a material impact on the Company’s results of operations and financial condition.”  

It said that it continues to work with cybersecurity experts from outside the company. “work diligently to respond to and mitigate the impact from the incident.”

Krispy Kreme stock was down about 3% in the morning of Wednesday and has lost around 35% this year.

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