A Krispy Kreme free doughnuts giveaway is underway for the first 1,000 guests to receive one Original Glazed item. Krispy Kreme is celebrating it’s 1,000th store that opened in Kansas City, Kansas, according to The Spreadit. The first visitor at the new chain received a free box of doughnuts every week for a year.
Unlike Chipotle’s buy-one-burrito-get-one-later promotion or Qdoba’s kiss-for-free-food day earlier this year, there’s no gimmick here. But then again, this new promotion involves free doughnuts. Who can pass that up?
Krispy Kreme has been dealing with a lot of bad publicity lately. Last week, the chain apologized after a store in the United Kingdom staged a “KKK” sale promotion, which stood for the “Krispy Kreme Klub” but is infamously associated with the white supremacist Ku Klux Klan group. Company spokesperson Lafeea Watson said it was an honest mistake.
“We do believe this was a completely unintentional oversight on the part of our longtime franchise partners in the U.K.”
The Krispy Kreme free doughnuts giveaway is probably the best damage control they can do after that incident. The store that created the event, which was meant to allow customers to come into the store to decorate doughnuts, is located in Hull, England. The store released a statement offering assurances that it would be “taking greater precautions with their publicity materials in the future.”
“We are truly sorry for any inconvenience or offense this misstep may have caused our fans.”
The latest free doughnuts giveaway by the company is one of several over the years, according to Slate. The company went public on the NASDAQ in 2000, but then switched to the New York Stock Exchange a year later. The stock reached what would be its all-time high of $50 on the New York Stock Exchange in August 2003, a gain of 235 percent from its IPO price.
The company reported sales of $665.6 million and operating profits of $94.7 million from almost 400 stores in 2004. The market initially considered the company as having “solid fundamentals, adding stores at a rapid clip and showing steadily increasing sales and earnings.” Since then it had lost 75-80% of its value by 2005, amid earnings declines, as well as an SEC investigation over the company’s alleged improper accounting practices.
While the Krispy Kreme free doughnuts giveaway has brought in new business, the company continues to expand, and its global sales are rising, notes the Kansas City Star. Despite having a very bumpy economic future for its first five years after IPO, it’s a stable company that does rival Dunkin’ Donuts. Krispy Kreme will be around for a very long time because the customers love their doughnuts.