0001857154-26-000046 | 10-Q | XBRL Viewer

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Net Loss per Share - Schedule of Net Loss Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Earnings Per Share [Abstract]
Net loss attributable to Krispy Kreme, Inc.	$ (20,311)	$ (435,260)	$ (43,095)	$ (468,544)
Accretion to redemption value of KK Canada	0	0	(5,404)	(4,290)
Net loss attributable to common shareholders - Basic	(20,311)	(435,260)	(48,499)	(472,834)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares	0	0	0	0
Net loss attributable to common shareholders - Diluted	$ (20,311)	$ (435,260)	$ (48,499)	$ (472,834)
Basic weighted average common shares outstanding (in shares)	172,578,000	170,802,000	172,299,000	170,546,000
Dilutive effect of outstanding common stock options and RSUs (in shares)	0	0	0	0
Diluted weighted average common shares outstanding (in shares)	172,578,000	170,802,000	172,299,000	170,546,000
Net loss per share:
Basic earnings/(loss) per share (in dollars per shares)	$ (0.12)	$ (2.55)	$ (0.28)	$ (2.77)
Diluted earnings/(loss) per share (in dollars per shares)	$ (0.12)	$ (2.55)	$ (0.28)	$ (2.77)

Acquisitions and Divestitures - Schedule of Divestitures (Details) - USD ($)		3 Months Ended
	Mar. 23, 2026	Jun. 29, 2025	Mar. 29, 2026
Disposal Group, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses		$ 75
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Disposal Group, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses	$ 53,487,000
Promissory note issued	40,404,000
Less: Direct costs to sell	(1,508,000)
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| W.K.S. Krispy Kreme
Disposal Group, Including Discontinued Operations [Line Items]
Fair value of retained noncontrolling interest in W.K.S. Krispy Kreme - common and preferred shares	14,831,000
Carrying value of California Assets, Hawaii Assets, and former redeemable noncontrolling interest in W.K.S Krispy Kreme	4,150,000
Less: Carrying value of California Assets, Hawaii Assets, and net assets of W.K.S. Krispy Kreme, including cash and cash equivalents (1)	(140,999,000)
Loss on divestiture	$ (33,785,000)
Net assets, gross of reedemable noncontrolling interest			$ 145,000,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
CASH FLOWS PROVIDED BY/(USED FOR) OPERATING ACTIVITIES:
Net loss	$ (42,504)	$ (474,523)
Adjustments to reconcile net loss to net cash provided by/(used for) operating activities:
Depreciation and amortization expense	59,123	69,683
Deferred and other income taxes	(4,957)	(30,785)
Goodwill impairment	0	355,958
Other asset impairments and lease termination charges	6,125	51,136
Loss on disposal of property and equipment	1,400	403
Loss on divestiture of Insomnia Cookies	0	11,501
Gain on refranchising, net	(8,885)	0
Gain on acquisition of equity method investment	(416)	0
Gain on sale-leaseback	0	6,749
Share-based compensation	7,926	7,237
Change in accounts and notes receivable allowances	3,349	986
Inventory write-off	(4)	1,495
Other	(128)	2,224
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract]
Increase (Decrease) in Accounts Receivable	(27,741)	10,503
Increase (Decrease) in Inventories	(7,034)	(6,446)
Increase (Decrease) in Accounts Payable	41	(38,393)
Increase (Decrease) in Other Current Assets and Liabilities, Net	36,533	9,083
Increase (Decrease) in Other Noncurrent Assets and Liabilities, Net	(6,254)	(3,269)
Increase (Decrease) in Accrued Liabilities	4,067	(12,626)
Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities	(10,680)	(795)
Net cash provided by/(used for) operating activities	9,961	(53,377)
CASH FLOWS PROVIDED BY/(USED FOR) INVESTING ACTIVITIES:
Purchase of property and equipment	(16,097)	(54,106)
Proceeds from disposals of assets	252	0
Proceeds from sale-leaseback	0	10,882
Net proceeds from refranchising transactions	111,411	0
Purchase/proceeds of equity method investment	129
Purchase/proceeds of equity method investment		(2,140)
Purchase of minority interests	(2,600)	0
Net proceeds from divestiture of Insomnia Cookies	0	75,000
Principal payments received from loans to franchisees	0	1,202
Purchase of redeemable noncontrolling interest	(25,106)	0
Other investing activities	0	99
Net cash provided by/(used for) investing activities	67,989	30,937
CASH FLOWS PROVIDED BY/(USED FOR) FINANCING ACTIVITIES:
Proceeds from the issuance of debt	120,750	516,900
Repayment of long-term debt and lease obligations	(234,173)	(485,894)
Payment of financing costs	0	(825)
Proceeds from structured payables	118,634	198,052
Payments on structured payables	(104,067)	(199,228)
Capital contribution by shareholders, net of loans issued	262	0
Distribution to shareholders	0	(11,934)
Payments for repurchase and retirement of common stock	(527)	(787)
Distribution to noncontrolling interest	219	(36)
Net cash provided by/(used for) financing activities	(98,902)	16,248
Effect of exchange rate changes on cash, cash equivalents and restricted cash	203	(1,300)
Net decrease in cash, cash equivalents and restricted cash	(20,749)	(7,492)
Cash, cash equivalents and restricted cash at beginning of period	42,891	29,315
Cash, cash equivalents and restricted cash at end of period	22,142	21,823
Supplemental schedule of non-cash investing and financing activities:
Increase in accrual for property and equipment	22,312	10,312
Note receivable issued in connection with refranchising	(40,404)	0
Reconciliation of cash, cash equivalents and restricted cash at end of period:
Cash and cash equivalents	21,825	21,264
Restricted cash	317	559
Total cash, cash equivalents and restricted cash	$ 22,142	$ 21,823

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Parenthetical) (Unaudited) - $ / shares	3 Months Ended
	Jun. 29, 2025	Mar. 30, 2025
Statement of Stockholders' Equity [Abstract]
Dividends declared on common stock and equivalents (in dollars per share)	$ 0.035	$ 0.035

Share-based Compensation - Schedule of RSU Activity (Details) shares in Thousands	6 Months Ended
	Jun. 28, 2026 $ / shares shares
Restricted Stock Units (RSUs) \| KK Australia
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	21
Granted (in shares) \| shares	0
Vested (in shares) \| shares	18
Forfeited (in shares) \| shares	3
Ending balance, non-vested shares outstanding (in shares) \| shares	0
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 1,720
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	1,720
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	1,720
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 0
Restricted Stock Units (RSUs) \| KK Mexico
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	1
Granted (in shares) \| shares	0
Vested (in shares) \| shares	1
Forfeited (in shares) \| shares	0
Ending balance, non-vested shares outstanding (in shares) \| shares	0
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 40,140
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	40,140
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	0
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 0
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) \| KKI
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	10,669
Granted (in shares) \| shares	3,620
Vested (in shares) \| shares	1,320
Forfeited (in shares) \| shares	1,039
Ending balance, non-vested shares outstanding (in shares) \| shares	11,930
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 5,970
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	3,900
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	9,730
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	6,010.00
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 5,160

Revenue Recognition - Summary of Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Disaggregation of Revenue [Line Items]
Total net revenues	$ 330,995	$ 379,767	$ 698,029	$ 754,951
Company Shops and Fresh Delivery
Disaggregation of Revenue [Line Items]
Total net revenues	289,430	362,194	635,618	717,872
Mix and equipment revenue from franchisees
Disaggregation of Revenue [Line Items]
Total net revenues	26,244	9,183	37,494	19,984
Franchise royalties and other
Disaggregation of Revenue [Line Items]
Total net revenues	$ 15,321	$ 8,390	$ 24,917	$ 17,095

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

+ Details

Segment Reporting (Details) $ in Thousands	3 Months Ended			6 Months Ended
Segment Reporting (Details) $ in Thousands	Jun. 28, 2026 USD ($)	Mar. 29, 2026 USD ($)	Jun. 29, 2025 USD ($)	Jun. 28, 2026 USD ($) segment	Jun. 29, 2025 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment				3
Segment Reporting [Line Items]
Total net revenues	$ 330,995		$ 379,767	$ 698,029	$ 754,951
Net loss	(19,831)	$ (22,673)	(441,118)	(42,504)	(474,523)
Interest expense, net	13,375		16,696	28,999	32,892
Income tax expense/(benefit)	(4,259)		(20,453)	(676)	(23,120)
Share-based compensation	3,287		4,634	7,926	7,237
Employer payroll taxes related to share-based compensation	55		91	72	257
Other non-operating income, net	(261)		(1,177)	(420)	(1,570)
Strategic initiatives	3,119		22,867	10,319	25,220
Acquisition and integration expenses	2,002		(182)	2,002	(111)
New market penetration expenses	0		245	0	320
Shop closure expenses	2,657		35,723	2,689	35,995
Gain (Loss) on Sale of Properties	0		0	(8,885)	0
Restructuring and severance expenses	33		4,839	427	4,947
Other	1,622		1,454	2,831	6,154
Amortization of intangible assets	6,156		7,830	13,964	15,491
Unallocated corporate expenses	20,225		19,399	40,472	39,723
Depreciation expense and amortization of right of use assets	19,140		25,542	41,759	49,332
Reportable segment adjusted EBITDA	47,320		37,100	98,975	78,954
Cost For Transition To Third Party Logistics	1,300			4,200
Non-Cash Impairment Charges	1,700			3,300
Legal Fees	800			1,600
Remediation Costs related to the 2024 Cyber security Incident			900		5,300
Selling, General and Administrative Expense	20,200		19,400	40,500	39,700
Strategic Initiatives
Segment Reporting [Line Items]
Costs for refranchising and expansion	2,100		20,900	6,300	23,300
U.S. \| Operating Segments
Segment Reporting [Line Items]
Total net revenues	172,680		230,099	394,230	466,643
Product and distribution costs, adjusted	42,924		56,756	96,272	114,586
Operating expenses, adjusted	96,662		139,224	216,486	274,746
Selling, general and administrative expense, adjusted	13,553		17,055	29,384	36,204
Marketing expenses, adjusted	5,437		7,408	11,844	14,242
Other segment items	352		(275)	943	1,024
Reportable segment adjusted EBITDA	13,752		9,931	39,301	25,841
International \| Operating Segments
Segment Reporting [Line Items]
Total net revenues	117,342		132,755	242,600	252,390
Product and distribution costs, adjusted	26,225		30,624	54,857	57,726
Operating expenses, adjusted	61,032		67,063	126,157	129,061
Selling, general and administrative expense, adjusted	12,359		13,056	26,652	25,777
Marketing expenses, adjusted	3,547		3,234	6,482	5,878
Other segment items	(3)		557	(202)	830
Reportable segment adjusted EBITDA	14,182		18,221	28,654	33,118
Market Development \| Operating Segments
Segment Reporting [Line Items]
Total net revenues	40,973		16,913	61,199	35,918
Product and distribution costs, adjusted	16,824		5,109	23,168	10,657
Selling, general and administrative expense, adjusted	1,582		1,122	2,739	2,436
Other segment items	3,181		1,734	4,272	2,830
Reportable segment adjusted EBITDA	$ 19,386		$ 8,948	$ 31,020	$ 19,995

Inventories (Details) - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Inventory Disclosure [Abstract]
Raw materials	$ 17,951	$ 18,003
Work in progress	303	156
Finished goods and purchased merchandise	10,412	8,718
Inventories	$ 28,666	$ 26,877

Goodwill and Other Intangible Assets, net

6 Months Ended

Jun. 28, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill and Other Intangible Assets, net

Goodwill, net

Changes in the carrying amount of goodwill by reportable segment are as follows:


	U.S.		International		Market Development		Total
Balance as of December 28, 2025	$	382,106	$	218,379	$	111,779	$	712,264

Impact of refranchising (1)	(42,174)		—		—		(42,174)


Foreign currency impact	—		(345)		—		(345)
Balance as of June 28, 2026	$	339,932	$	218,034	$	111,779	$	669,745

(1)Refer to Note 3, Acquisitions and Divestitures, for more information on the impact of refranchising.

Other Intangible Assets, net

Other intangible assets consist of the following:


	June 28, 2026						December 28, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
Intangible assets with indefinite lives
Trade names and trademarks	$	553,400	$	—	$	553,400	$	553,400	$	—	$	553,400
Intangible assets with definite lives
Franchise agreements	27,154		(13,021)		14,133		27,154		(12,363)		14,791
Customer relationships	15,000		(8,574)		6,426		15,000		(8,142)		6,858
Reacquired franchise rights (1)(2)	318,745		(164,979)		153,766		420,262		(197,562)		222,700

Total intangible assets with definite lives	360,899		(186,574)		174,325		462,416		(218,067)		244,349
Total intangible assets	$	914,299	$	(186,574)	$	727,725	$	1,015,816	$	(218,067)	$	797,749

(1)Reacquired franchise rights include the impact of foreign currency fluctuations associated with the respective countries.

(2)Refer to Note 3, Acquisitions and Divestitures, for more information on the impact of refranchising.

Amortization expense related to intangible assets included in Depreciation and amortization expense was $6.2 million and $14.0 million for the quarter and two quarters ended June 28, 2026, respectively, and $7.8 million and $15.5 million for the quarter and two quarters ended June 29, 2025, respectively

Net Loss per Share

6 Months Ended

Jun. 28, 2026

Earnings Per Share [Abstract]

Net Loss per Share

Net (Loss)/Earnings per Share

The following table presents the calculations of basic and diluted EPS:


	Quarter Ended				Two Quarters Ended
(in thousands, except per share amounts)	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Net loss attributable to Krispy Kreme, Inc.	$	(20,311)	$	(435,260)	$	(43,095)	$	(468,544)
Accretion to redemption value of redeemable noncontrolling interest	—		—		(5,404)		(4,290)

Net loss attributable to common shareholders - Basic	$	(20,311)	$	(435,260)	$	(48,499)	$	(472,834)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares	—		—		—		—
Net loss attributable to common shareholders - Diluted	$	(20,311)	$	(435,260)	$	(48,499)	$	(472,834)
Basic weighted average common shares outstanding	172,578		170,802		172,299		170,546
Dilutive effect of outstanding common stock options, RSUs, and PSUs	—		—		—		—
Diluted weighted average common shares outstanding	172,578		170,802		172,299		170,546
(Loss)/earnings per share attributable to common shareholders:
Basic	$	(0.12)	$	(2.55)	$	(0.28)	$	(2.77)
Diluted	$	(0.12)	$	(2.55)	$	(0.28)	$	(2.77)

Potential dilutive shares consist of unvested RSUs and PSUs, calculated using the treasury stock method. The calculation of dilutive shares outstanding excludes certain unvested RSUs granted under certain subsidiaries’ executive ownership plans and long-term incentive plans, because their inclusion would have been antidilutive. Refer to Note 11, Share-based Compensation, for further information about the plans.

The following table summarizes the gross number of potential dilutive unvested RSUs and PSUs excluded due to antidilution (unadjusted for the treasury stock method):


	Quarter Ended		Two Quarters Ended
	June 28, 2026	June 29, 2025	June 28, 2026	June 29, 2025
KKI	11,930	8,513	11,930	8,513


KK Australia	—	74	—	74
KK Mexico	—	18	—	18

For the quarter and two quarters ended June 28, 2026 and June 29, 2025, all 2.0 million and 2.6 million time-vested stock options, respectively, were excluded from the computation of diluted weighted average common shares outstanding based on application of the treasury stock method.

Revision of Financial Statements (Tables)

6 Months Ended

Jun. 28, 2026

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

As a result of the aforementioned correction of accounting errors, the quarterly financial statements included herein have been revised as follows:


	Consolidated Statements of Changes in Shareholders’ Equity
	As Previously Reported		Adjustments		As Revised
Noncontrolling Interest
Balance at December 29, 2024	$	29,895	$	(27,297)	$	2,598
Net (loss)/income for the fiscal quarter ended March 30, 2025	(121)		(259)		(380)
Other comprehensive income for the quarter ended March 30, 2025 before reclassifications	73		(32)		41
Balance at March 30, 2025	$	29,847	$	(27,588)	$	2,259
Net (loss)/income for the fiscal quarter ended June 29, 2025	$	(5,858)	$	97	$	(5,761)
Other comprehensive income for the quarter ended June 29, 2025 before reclassifications	668		677		1,345
Balance at June 29, 2025	$	24,657	$	(26,814)	$	(2,157)


	Net Loss per Share
	Two Quarters Ended June 29, 2025
	As Previously Reported		Adjustments		As Revised
(in thousands, except per share amounts)
Net loss attributable to Krispy Kreme, Inc.	$	(468,544)	$	—	$	(468,544)
Accretion to redemption value of redeemable noncontrolling interest	—		(4,290)		(4,290)

Net loss attributable to common shareholders - Basic	$	(468,544)	$	(4,290)	$	(472,834)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares	—		—		—
Net loss attributable to common shareholders - Diluted	$	(468,544)	$	(4,290)	$	(472,834)
Basic weighted average common shares outstanding	170,546		—		170,546
Dilutive effect of outstanding common stock options, RSUs, and PSUs	—		—		—
Diluted weighted average common shares outstanding	170,546		—		170,546
(Loss)/earnings per share attributable to common shareholders:
Basic	$	(2.75)	$	(0.02)	$	(2.77)
Diluted	$	(2.75)	$	(0.02)	$	(2.77)

Redeemable Noncontrolling Interests (Tables)

6 Months Ended

Jun. 28, 2026

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interest

Changes in the redeemable noncontrolling interests are as follows:


	Two Quarters Ended
	June 28, 2026
Balance at December 28, 2025	$	24,181
Disposal upon refranchising of W.K.S. Krispy Kreme	(4,150)
Accretion to redemption value of KK Canada	5,404
Reclassifications	(25,435)
Balance at June 28, 2026	$	—

Fair Value Measurements (Tables)

6 Months Ended

Jun. 28, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents assets and liabilities that are measured at fair value on a recurring basis as of June 28, 2026 and December 28, 2025:


	June 28, 2026
	Level 2
Assets:


Foreign currency derivatives	$	120

Total Assets	$	120

Liabilities:
Interest rate derivatives	$	774
Commodity derivatives	199

Total Liabilities	$	973


	December 28, 2025
	Level 2
Assets:


Commodity derivatives	$	33
Total Assets	$	33

Liabilities:
Foreign currency derivatives	$	12
Interest rate derivatives	8,386
Total Liabilities	$	8,398

Revenue Recognition (Tables)

6 Months Ended

Jun. 28, 2026

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenues are disaggregated as follows:


	Quarter Ended				Two Quarters Ended
	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Company Shops and Fresh Delivery	$	289,430	$	362,194	$	635,618	$	717,872
Mix and equipment revenue from franchisees	26,244		9,183		37,494		19,984
Franchise royalties and other	15,321		8,390		24,917		17,095
Total net revenues	$	330,995	$	379,767	$	698,029	$	754,951

Summary of Contract Balances with Customers

Deferred revenue and related receivables are as follows:


	June 28, 2026		December 28, 2025		Balance Sheet Location
Trade receivables, net of allowances of $1,354 and $976, respectively	$	74,940	$	55,736	Accounts receivables, net
Deferred revenue:
Current	$	14,780	$	16,668	Accrued liabilities
Noncurrent	9,837		9,780		Other long-term obligations and deferred credits
Total deferred revenue	$	24,617	$	26,448

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

Estimated revenue expected to be recognized in the future related to performance obligations that are either unsatisfied or partially satisfied as of June 28, 2026 is as follows:


Fiscal year
Remainder of 2026	$	5,104
2027	6,462
2028	2,803
2029	1,911
2030	1,030
Thereafter	7,307
	$	24,617

Vendor Finance Programs (Tables)

6 Months Ended

Jun. 28, 2026

Payables and Accruals [Abstract]

The following table presents liabilities as of June 28, 2026 and December 28, 2025 related to vendor finance programs in which the Company participates as a buyer:


	June 28, 2026		December 28, 2025		Balance Sheet Location
Supply chain financing programs	$	11,047	$	12,517	Accounts payable
Structured payables programs	106,998		92,366		Structured payables
Total Liabilities	$	118,045	$	104,883

Derivative Instruments (Tables)

6 Months Ended

Jun. 28, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Condensed Consolidated Balance Sheets, Fair Value

The following tables present the fair values of derivative instruments included in the Condensed Consolidated Balance Sheets as of June 28, 2026 and December 28, 2025 for derivatives not designated as hedging instruments and derivatives designated as hedging instruments, respectively. Only the Company’s cash flow hedges are designated as hedging instruments.


	Derivatives Fair Value
Derivatives Not Designated as Hedging Instruments	June 28, 2026		December 28, 2025		Balance Sheet Location
Foreign currency derivatives	$	120	$	—	Prepaid expense and other current assets
Commodity derivatives	—		33		Prepaid expense and other current assets
Total Assets	$	120	$	33
Foreign currency derivatives	—		12		Accrued liabilities
Commodity derivatives	199		—		Accrued liabilities
Total Liabilities	$	199	$	12


	Derivatives Fair Value
Derivatives Designated as Hedging Instruments	June 28, 2026		December 28, 2025		Balance Sheet Location



Interest rate derivatives (current)	$	453	$	3,741	Accrued liabilities
Interest rate derivatives (noncurrent)	321		4,645		Other long-term obligations and deferred credits

Total Liabilities	$	774	$	8,386

Schedule of Derivative Instruments in Condensed Consolidated Statements of Operations, Gain (Loss)

The effect of derivative instruments in the Condensed Consolidated Statements of Operations for the quarter and two quarters ended June 28, 2026 and June 29, 2025 is as follows:


	Derivative Gain/(Loss) Recognized in Income for the Quarter Ended				Derivative Gain/(Loss) Recognized in Income for the Two Quarters Ended
Derivatives Designated as Hedging Instruments	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025		Location of Derivative Gain Recognized in Income
Loss/ (gain) on interest rate derivatives	$	(353)	$	336	$	(643)	$	623	Interest expense, net
	$	(353)	$	336	$	(643)	$	623


	Derivative Gain/(Loss) Recognized in Income for the Quarter Ended				Derivative Gain/(Loss) Recognized in Income for the Two Quarters Ended
Derivatives Not Designated as Hedging Instruments	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025		Location of Derivative (Loss)/Gain Recognized in Income
(Loss)/gain on foreign currency derivatives	$	379	$	(220)	$	132	$	(117)	Other non-operating (income)/expense, net
Loss/(gain) on commodity derivatives	(228)		45		(33)		140		Other non-operating (income)/expense, net
	$	151	$	(175)	$	99	$	23

Redeemable Noncontrolling Interests - Schedule of Changes (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 29, 2026	Jun. 28, 2026	Jun. 29, 2025
Equity, Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 28, 2025	$ 24,181	$ 24,181
Disposal upon refranchising of W.K.S. Krispy Kreme		(4,150)
Accretion to redemption value of KK Canada	$ 5,404	5,404	$ 4,290
Reclassifications		(25,435)
Balance at June 28, 2026		$ 0

- Definition

As of the reporting date, the aggregate carrying amount of all noncontrolling interests which are redeemable by the (parent) entity (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the (parent) entity. This item includes noncontrolling interest holder's ownership (or holders' ownership) regardless of the type of equity interest (common, preferred, other) including all potential organizational (legal) forms of the investee entity.

+ References

+ Details

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 28, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business Krispy Kreme, Inc. (“KKI”) and its subsidiaries (collectively, the “Company” or “Krispy Kreme”) operate through an omni-channel business model to produce doughnuts and deliver fresh doughnut experiences for Doughnut Shops, fresh delivery doors, and digital channels, expanding consumer access to the Krispy Kreme brand. The Company has three reportable operating segments: 1) U.S., which includes all Company-owned operations in the U.S., and W.K.S. Krispy Kreme, LLC (“W.K.S. Krispy Kreme”) through the date of deconsolidation; 2) International, which includes Company-owned operations in the U.K., Ireland, Australia, New Zealand, Mexico, and Canada, as well as Japan through the date of disposition; and 3) Market Development, which includes franchise operations across the globe, including Krispy Kreme Doughnut Japan Co., Ltd (“Krispy Kreme Japan”) after March 2, 2026 and W.K.S. Krispy Kreme after March 23, 2026, and also includes Company-owned operations in France through Krispy Kreme Doughnuts France SAS ("Krispy Kreme France") after May 25, 2026. Refer to Note 3, Acquisitions and Divestitures, for more information on the impact of refranchising and the Company’s acquisition of Krispy Kreme France. Unallocated corporate costs are excluded from the Company’s measurement of segment performance. Basis of Presentation and Consolidation The Company operates and reports financial information on a 52- or 53-week year with the fiscal year ending on the Sunday closest to December 31. The quarters ended June 28, 2026 and June 29, 2025 were both 13-week periods. The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of KKI and its subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, these interim financial statements do not include all information and footnotes required under GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of results of operations, balance sheet, cash flows, and shareholders’ equity for the periods presented. All significant intercompany balances and transactions among KKI and its subsidiaries have been eliminated in consolidation. Investments in entities over which the Company has the ability to exercise significant influence but which it does not control and whose financial statements are not otherwise required to be consolidated, are accounted for using the equity method. The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto as of and for the year ended December 28, 2025, included in KKI’s Annual Report on Form 10-K for the year then ended (the “Annual Report on Form 10-K”). The Condensed Consolidated Balance Sheet as of December 28, 2025 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations for the quarter and two quarters ended June 28, 2026 are not necessarily indicative of the results of operations that may be achieved for the entire fiscal year ending January 3, 2027. Noncontrolling interest in the Company’s Condensed Consolidated Financial Statements represents the interest in subsidiaries held by employee shareholders, all of which were purchased by the Company during the quarter ended March 29, 2026. Employee shareholders held noncontrolling interests in the consolidated subsidiaries Krispy Kreme Holdings Pty Ltd. (“KK Australia”), Krispy Kreme Mexico Holding S.A.P.I. de C.V. (“KK Mexico”), and Krispy Kreme Japan prior to disposition. Since the Company consolidates the financial statements of these subsidiaries, the noncontrolling owners’ share of net assets and results of operations are deducted and reported as noncontrolling interest in the Condensed Consolidated Balance Sheets and as net income/(loss) attributable to noncontrolling interest in the Condensed Consolidated Statements of Operations and comprehensive income attributable to noncontrolling interest in the Condensed Consolidated Statements of Comprehensive Loss/(Income). Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 1, Description of Business and Summary of Significant Accounting Policies, to the Consolidated Financial Statements for the year ended December 28, 2025 included in the Annual Report on Form 10-K. There were no material changes to the significant accounting policies during the quarter ended June 28, 2026. Termination of the Business Relationship Agreement with McDonald’s USA On June 24, 2025, the Company and McDonald’s USA, LLC (“McDonald’s USA”) announced that the companies had jointly decided to terminate the Business Relationship Agreement between Krispy Kreme Doughnut Corporation and McDonald’s USA (the “Business Relationship Agreement”) effective July 2, 2025 (the “Termination Effective Date”). Effective as of the Termination Effective Date, neither party has any further obligations to the other party under the Business Relationship Agreement except for obligations related to confidentiality, indemnification, and certain other miscellaneous provisions that expressly survive termination. Goodwill and Other Asset Impairments Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination. For each reporting unit, the Company assesses goodwill for impairment annually at the beginning of the fourth quarter or more frequently when impairment indicators are present. If the carrying value of the reporting unit exceeds its fair value, the Company recognizes an impairment charge for the difference up to the carrying value of the allocated goodwill. In the quarter ended June 29, 2025, management identified impairment indicators that required a quantitative assessment of goodwill outside of management’s routine annual assessment. These indicators included that during the two quarters ended June 29, 2025, the Company experienced a decline in its stock price and market capitalization, which became significant and sustained during the quarter ended June 29, 2025. In addition, the Company’s operating results for the quarter were below previous forecasts. Lastly, the Company updated its forecasts for the full year following termination of the Business Relationship Agreement with McDonald’s USA during the quarter, and the updated forecasts were below previous forecasts. After completing the quantitative impairment test, management concluded that the estimated fair values of the U.S., Krispy Kreme Holding U.K. Ltd. (“KK U.K.”), and KK Australia reporting units had declined below their carrying values, and management recognized a cumulative, non-cash, partial goodwill impairment charge of $356.0 million (gross of income taxes) in the quarter ended June 29, 2025. The estimated fair values of the reporting units were based on estimates and assumptions that are considered Level 3 inputs under the fair value hierarchy. In estimating the fair values of the reporting units, management reconciles the fair value of the Company to the Company’s market capitalization. Consistent with the quantitative assessment for the fiscal year ended December 29, 2024, management utilized a discounted cash flow approach and a market approach to determine fair values, allocating 50% to each approach. These calculations require management to make assumptions and to apply judgment when estimating future cash flows and asset fair values, including projected revenue growth and operating expenses related to existing businesses, product innovation, and new shop concepts, as well as selecting valuation multiples of similar publicly traded companies and an appropriate discount rate. Estimates of revenue growth and operating expenses were based on internal projections that considered the reporting unit’s past performance and forecasted growth, strategic initiatives, local market economics, and the local business environment impacting the reporting unit’s performance. The discount rate was selected based on the estimated cost of capital for a market participant to operate the reporting unit in the region. These estimates, as well as the selection of comparable companies and valuation multiples used in the market approaches were highly subjective, and the Company’s ability to realize the future cash flows used in management’s fair value calculations was affected by factors such as the success of strategic initiatives, changes in economic conditions, changes in operating performance, and changes in business strategies, including retail initiatives and international expansion. For the discounted cash flow approach, management applied discount rates to management’s projected cash flows of approximately 10.0%, 12.0%, and 12.0% for the U.S., KK U.K., and KK Australia reporting units, respectively. Additionally, in response to management’s updated forecasts and the termination of the Business Relationship Agreement with McDonald’s USA during the quarter ended June 29, 2025, the Company recorded non-cash long-lived asset impairment charges of $22.1 million and non-cash lease impairment and termination costs of $28.9 million. These impairment charges, along with the goodwill impairment, are included in Goodwill and other asset impairments in the Condensed Consolidated Statements of Operations. The goodwill and other asset impairments did not have an impact on the Company’s compliance with the financial covenants under the Company’s debt arrangements. Reclassifications The accompanying condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of results of operations and financial condition for the interim periods shown, consisting of normal recurring adjustments, unless otherwise disclosed. Certain amounts in prior periods previously reported in the Company’s Quarterly Report on Form 10-Q for the period ended June 29, 2025 (the “Q2 2025 Form 10-Q”) have been reclassified to conform to the current period presentation. The Company believes that the disclosures are adequate to make the information presented not misleading and should be read in conjunction with the unaudited consolidated financial statements and related footnotes contained in the Q2 2025 Form 10-Q. Recent Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Income Statement (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires a public business entity (“PBE”) to disclose in the notes to the financial statements, at each interim and annual reporting period, specified information about certain costs and expenses, including (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion, and amortization recognized as part of oil and gas-producing activities, for each income statement line item that contains those expenses. For PBEs, the ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. An entity may apply the amendments in this ASU prospectively or retrospectively. The Company expects this ASU to impact its expense disclosures, but with no impacts to its results of operations, cash flows, and financial condition. In September 2025, the FASB issued ASU 2025-06, Intangibles (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which clarifies and modernizes the accounting for costs related to internal-use software. The guidance removes all references to project stages in Accounting Standards Codification (“ASC”) 350-40, Intangibles — Goodwill and Other — Internal-Use Software and clarifies the threshold entities apply to begin capitalizing costs. The new guidance requires an entity to start capitalizing software costs when (a) management has authorized and committed to funding the software project, and (b) it is probable that the project will be completed and the software will be used to perform the function intended. For PBEs, the ASU is effective for annual periods beginning after December 15, 2027, and interim periods within those annual periods, with early adoption permitted. Entities may apply the amendments in this ASU using a prospective, retrospective, or modified transition approach. The Company does not expect this ASU to materially impact its results of operations, cash flows, and financial condition. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270), which centralizes interim disclosure requirements and codifies a "disclosure principle" requiring an explanation of material changes occurring since the most recent annual period. As the Company currently adheres to similar requirements under SEC Regulation S-X Rule 8-03, the adoption of this guidance is not expected to significantly change current interim reporting practices. The amendments are effective for the Company for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company expects to adopt this guidance prospectively and does not anticipate that the adoption will have a material impact on its Condensed Consolidated Financial Statements or disclosures

Inventories (Tables)

6 Months Ended

Jun. 28, 2026

Inventory Disclosure [Abstract]

Schedule of Inventory

The components of Inventories are as follows:


	June 28, 2026		December 28, 2025
Raw materials	$	17,951	$	18,003
Work in progress	303		156
Finished goods and purchased merchandise	10,412		8,718
Total inventories	$	28,666	$	26,877

Net Loss per Share (Tables)

6 Months Ended

Jun. 28, 2026

Earnings Per Share [Abstract]

Schedule of Net Loss Per Share, Basic and Diluted

The following table presents the calculations of basic and diluted EPS:


	Quarter Ended				Two Quarters Ended
(in thousands, except per share amounts)	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Net loss attributable to Krispy Kreme, Inc.	$	(20,311)	$	(435,260)	$	(43,095)	$	(468,544)
Accretion to redemption value of redeemable noncontrolling interest	—		—		(5,404)		(4,290)

Net loss attributable to common shareholders - Basic	$	(20,311)	$	(435,260)	$	(48,499)	$	(472,834)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares	—		—		—		—
Net loss attributable to common shareholders - Diluted	$	(20,311)	$	(435,260)	$	(48,499)	$	(472,834)
Basic weighted average common shares outstanding	172,578		170,802		172,299		170,546
Dilutive effect of outstanding common stock options, RSUs, and PSUs	—		—		—		—
Diluted weighted average common shares outstanding	172,578		170,802		172,299		170,546
(Loss)/earnings per share attributable to common shareholders:
Basic	$	(0.12)	$	(2.55)	$	(0.28)	$	(2.77)
Diluted	$	(0.12)	$	(2.55)	$	(0.28)	$	(2.77)

Schedule of Antidilutive Unvested RSUs Excluded from Computation of Net Loss per Share

The following table summarizes the gross number of potential dilutive unvested RSUs and PSUs excluded due to antidilution (unadjusted for the treasury stock method):


	Quarter Ended		Two Quarters Ended
	June 28, 2026	June 29, 2025	June 28, 2026	June 29, 2025
KKI	11,930	8,513	11,930	8,513


KK Australia	—	74	—	74
KK Mexico	—	18	—	18

Acquisitions and Divestitures - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Mar. 23, 2026	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025	Mar. 22, 2026	Mar. 02, 2026	Dec. 28, 2025
Disposal Group, Including Discontinued Operations [Line Items]
Purchase of equity method investment			$ 2,100,000		$ 2,140,000
Proceeds from Divestiture of Businesses			75
Loss on divestiture		$ 0	$ 11,501,000	$ 0	$ 11,501,000
W.K.S. Krispy Kreme
Disposal Group, Including Discontinued Operations [Line Items]
Consulting agreement term	6 years
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Disposal Group, Including Discontinued Operations [Line Items]
Promissory note issued	$ 40,404,000
Proceeds from Divestiture of Businesses	53,487,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| WKS Holdco
Disposal Group, Including Discontinued Operations [Line Items]
Promissory note issued	$ 40,400,000
Debt instrument, interest rate, stated percentage	5.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| W.K.S. Krispy Kreme
Disposal Group, Including Discontinued Operations [Line Items]
Gain (loss) on divestiture	$ (33,785,000)
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Krispy Kreme Japan
Disposal Group, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses		69,300,000
Gain (loss) on divestiture		$ 42,400,000
Percentage of equity interests sold							100.00%
W.K.S. Krispy Kreme
Disposal Group, Including Discontinued Operations [Line Items]
Ownership percentage		20.00%		20.00%
W.K.S. Krispy Kreme \| WKS Restaurant Group
Disposal Group, Including Discontinued Operations [Line Items]
Ownership percentage	80.00%					45.00%
W.K.S. Krispy Kreme \| Krispy Kreme Doughnut Corporation
Disposal Group, Including Discontinued Operations [Line Items]
Ownership percentage	20.00%					55.00%
W.K.S. Krispy Kreme \| WKS Holdco
Disposal Group, Including Discontinued Operations [Line Items]
Purchase of equity method investment	$ 13,000,000
Krispy Kreme France
Disposal Group, Including Discontinued Operations [Line Items]
Ownership percentage		100.00%		100.00%				33.00%
Krispy Kreme Brazil
Disposal Group, Including Discontinued Operations [Line Items]
Ownership percentage		45.00%	45.00%	45.00%	45.00%			45.00%

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 28, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The Company operates and reports financial information on a 52- or 53-week year with the fiscal year ending on the Sunday closest to December 31. The quarters ended June 28, 2026 and June 29, 2025 were both 13-week periods. The accompanying unaudited Condensed Consolidated Financial Statements include the accounts of KKI and its subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Accordingly, these interim financial statements do not include all information and footnotes required under GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of results of operations, balance sheet, cash flows, and shareholders’ equity for the periods presented. All significant intercompany balances and transactions among KKI and its subsidiaries have been eliminated in consolidation. Investments in entities over which the Company has the ability to exercise significant influence but which it does not control and whose financial statements are not otherwise required to be consolidated, are accounted for using the equity method.
Consolidation	The accompanying unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto as of and for the year ended December 28, 2025, included in KKI’s Annual Report on Form 10-K for the year then ended (the “Annual Report on Form 10-K”). The Condensed Consolidated Balance Sheet as of December 28, 2025 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations for the quarter and two quarters ended June 28, 2026 are not necessarily indicative of the results of operations that may be achieved for the entire fiscal year ending January 3, 2027. Noncontrolling interest in the Company’s Condensed Consolidated Financial Statements represents the interest in subsidiaries held by employee shareholders, all of which were purchased by the Company during the quarter ended March 29, 2026. Employee shareholders held noncontrolling interests in the consolidated subsidiaries Krispy Kreme Holdings Pty Ltd. (“KK Australia”), Krispy Kreme Mexico Holding S.A.P.I. de C.V. (“KK Mexico”), and Krispy Kreme Japan prior to disposition. Since the Company consolidates the financial statements of these subsidiaries, the noncontrolling owners’ share of net assets and results of operations are deducted and reported as noncontrolling interest in the Condensed Consolidated Balance Sheets and as net income/(loss) attributable to noncontrolling interest in the Condensed Consolidated Statements of Operations and comprehensive income attributable to noncontrolling interest in the Condensed Consolidated Statements of Comprehensive Loss/(Income).
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Income Statement (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires a public business entity (“PBE”) to disclose in the notes to the financial statements, at each interim and annual reporting period, specified information about certain costs and expenses, including (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion, and amortization recognized as part of oil and gas-producing activities, for each income statement line item that contains those expenses. For PBEs, the ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. An entity may apply the amendments in this ASU prospectively or retrospectively. The Company expects this ASU to impact its expense disclosures, but with no impacts to its results of operations, cash flows, and financial condition. In September 2025, the FASB issued ASU 2025-06, Intangibles (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which clarifies and modernizes the accounting for costs related to internal-use software. The guidance removes all references to project stages in Accounting Standards Codification (“ASC”) 350-40, Intangibles — Goodwill and Other — Internal-Use Software and clarifies the threshold entities apply to begin capitalizing costs. The new guidance requires an entity to start capitalizing software costs when (a) management has authorized and committed to funding the software project, and (b) it is probable that the project will be completed and the software will be used to perform the function intended. For PBEs, the ASU is effective for annual periods beginning after December 15, 2027, and interim periods within those annual periods, with early adoption permitted. Entities may apply the amendments in this ASU using a prospective, retrospective, or modified transition approach. The Company does not expect this ASU to materially impact its results of operations, cash flows, and financial condition. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270), which centralizes interim disclosure requirements and codifies a "disclosure principle" requiring an explanation of material changes occurring since the most recent annual period. As the Company currently adheres to similar requirements under SEC Regulation S-X Rule 8-03, the adoption of this guidance is not expected to significantly change current interim reporting practices. The amendments are effective for the Company for interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company expects to adopt this guidance prospectively and does not anticipate that the adoption will have a material impact on its Condensed Consolidated Financial Statements or disclosures

Share-based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option plan expense	$ 0.2	$ 0.4	$ 0.6	$ 0.8
KKI
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vested (in shares)	0	0
Stock option exercised (in shares)			0
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock unit expense	$ 3.1	$ 4.2	$ 7.3	$ 6.4
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) \| KKI
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			3,620,000
Granted (in shares)			3,620,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (l)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

- Definition

Number of share options (or share units) exercised during the current period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section S45
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

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-Topic 942
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(20))
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-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
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-Section S50
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-Publisher FASB
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Share-based Compensation - Schedule of Stock Option Unrecognized Compensation Expense (Details) - Share-based Payment Arrangement, Option - KKI $ in Thousands	6 Months Ended
	Jun. 28, 2026 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 1,962
Recognized Over a Weighted-Average Period of	2 years 1 month 6 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Revenue Recognition

6 Months Ended

Jun. 28, 2026

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenues

Revenues are disaggregated as follows:


	Quarter Ended				Two Quarters Ended
	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Company Shops and Fresh Delivery	$	289,430	$	362,194	$	635,618	$	717,872
Mix and equipment revenue from franchisees	26,244		9,183		37,494		19,984
Franchise royalties and other	15,321		8,390		24,917		17,095
Total net revenues	$	330,995	$	379,767	$	698,029	$	754,951

Other revenues include advertising fund contributions from franchisees, consulting fees, rental income, development and franchise fees, and licensing royalties from customers for use of the Krispy Kreme brand, such as Keurig coffee cups.

Contract Balances

Deferred revenue and related receivables are as follows:


	June 28, 2026		December 28, 2025		Balance Sheet Location
Trade receivables, net of allowances of $1,354 and $976, respectively	$	74,940	$	55,736	Accounts receivables, net
Deferred revenue:
Current	$	14,780	$	16,668	Accrued liabilities
Noncurrent	9,837		9,780		Other long-term obligations and deferred credits
Total deferred revenue	$	24,617	$	26,448

Trade receivables relate primarily to payments due for royalties, franchise fees, advertising fees, sale of products, and licensing fees. Deferred revenue primarily represents the Company’s remaining performance obligations under gift cards and franchise and development agreements for which consideration has been received or is receivable and is generally recognized on a straight-line basis over the remaining term of the related agreement. The noncurrent portion of deferred revenue primarily relates to the remaining performance obligations in the franchise and development agreements.

Transaction Price Allocated to Remaining Performance Obligations

Estimated revenue expected to be recognized in the future related to performance obligations that are either unsatisfied or partially satisfied as of June 28, 2026 is as follows:


Fiscal year
Remainder of 2026	$	5,104
2027	6,462
2028	2,803
2029	1,911
2030	1,030
Thereafter	7,307
	$	24,617

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Share-based Compensation (Tables)

6 Months Ended

Jun. 28, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Nonvested Restricted Stock Units Activity

RSU and PSU activity under these plans during the periods presented is as follows:


(in thousands, except per share amounts)	Non-vested shares outstanding at December 28, 2025		Granted	Vested		Forfeited		Non-vested shares outstanding at June 28, 2026
KKI
RSUs and PSUs	10,669		3,620	1,320		1,039		11,930
Weighted Average Grant Date Fair Value	$	5.97	3.90	$	9.73	$	6.01	$	5.16






KK Australia
RSUs	21		—	18		3		—
Weighted Average Grant Date Fair Value	$	1.72	—	$	1.72	$	1.72	$	—
KK Mexico
RSUs	1		—	1		—		—
Weighted Average Grant Date Fair Value	$	40.14	—	$	40.14	$	—	$	—

Share-based Payment Arrangement, Nonvested Award, Cost

The unrecognized compensation cost related to the unvested RSUs and PSUs and the weighted average period over which such cost is expected to be recognized are as follows:


	As of June 28, 2026
	Unrecognized Compensation Cost		Recognized Over a Weighted Average Period of
KKI	$	38,588	2.3 years

The unrecognized compensation cost related to the stock options and the weighted average period over which such cost is expected to be recognized are as follows:


	As of June 28, 2026
	Unrecognized Compensation Cost		Recognized Over a Weighted Average Period of
KKI	$	1,962	2.1 years

Share-based Payment Arrangement, Option, Activity

The status of the time-vested stock options as of December 28, 2025 and changes during the first two quarters of fiscal 2026 are presented below:


	Share options outstanding at						Share options outstanding at
(in thousands, except per share amounts)	December 28, 2025		Granted	Exercised	Forfeited or Expired		June 28, 2026
KKI
Options	2,558		—	—	243		2,315
Weighted Average Grant Date Fair Value	$	2.46	—	—	$	1.63	$	2.54
Weighted Average Exercise Price	$	5.43	—	—	$	3.35	$	5.65

Share-based Compensation - Schedule of RSU Unrecognized Compensation Expense (Details) - Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) - KKI $ in Thousands	6 Months Ended
	Jun. 28, 2026 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 38,588
Recognized Over a Weighted-Average Period of	2 years 3 months 18 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Goodwill and Other Intangible Assets, net - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 28, 2026 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 712,264
Impact of refranchising (1)	(42,174)
Foreign currency impact	(345)
Ending balance	669,745
U.S.
Goodwill [Roll Forward]
Beginning balance	382,106
Impact of refranchising (1)	(42,174)
Foreign currency impact	0
Ending balance	339,932
International
Goodwill [Roll Forward]
Beginning balance	218,379
Impact of refranchising (1)	0
Foreign currency impact	(345)
Ending balance	218,034
Market Development
Goodwill [Roll Forward]
Beginning balance	111,779
Impact of refranchising (1)	0
Foreign currency impact	0
Ending balance	$ 111,779

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

+ Details

Derivative Instruments

6 Months Ended

Jun. 28, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

Commodity Price Risk

The Company uses forward contracts to protect against the effects of commodity price fluctuations in the cost of ingredients of its products, of which flour, sugar, and shortening are the most significant, and the cost of gasoline used by its delivery vehicles. Management has not designated these forward contracts as hedges. As of June 28, 2026 and December 28, 2025, the total notional amount of these contracts was 0.7 million and 0.6 million gallons of fuel, respectively, and the Company recorded a liability of $0.2 million and an asset of less than $0.1 million, respectively. The contracts outstanding as of June 28, 2026 are scheduled to mature between July 2026 and March 2027, and the contracts outstanding as of December 28, 2025 matured between January 2026 and March 2026. The settlement of commodity derivative contracts is reported in the Condensed Consolidated Statements of Cash Flows as a cash flow from operating activities.

Interest Rate Risk

The Company uses interest rate swaps to manage its exposure to interest rate volatility from its debt arrangements. Management has designated the swap agreements as cash flow hedges and recognized the changes in the fair value of these swaps in other comprehensive income. As of both June 28, 2026 and December 28, 2025, the aggregate notional amount hedged by the swap agreements was $550.0 million of term loan principal. As of June 28, 2026 and December 28, 2025, the Company has recorded liabilities of $0.8 million and $8.4 million, respectively, related to the fair market values of its interest rate derivatives. The cash flows associated with the interest rate swaps are reflected in operating activities in the Condensed Consolidated Statements of Cash Flows, which is consistent with the classification as operating activities of the interest payments on the term loan.

The net effect of the interest rate swap arrangements is to fix the variable interest rate on the term loan under the 2023 Facility (as defined in Note 10, Long-Term Debt) up to the notional amount outstanding at the rates payable under the swap agreements plus the Applicable Rate (as defined by the 2023 Facility), through the swap maturity dates in March 2028.

Foreign Currency Exchange Rate Risk

The Company is exposed to foreign currency exchange rate risk primarily from its investments in consolidated subsidiaries that operate in Canada, the U.K., Ireland, Australia, New Zealand, and Mexico. In order to mitigate foreign exchange fluctuations, the Company enters into foreign exchange forward contracts. Management has not designated these forward contracts as hedges. As of June 28, 2026 and December 28, 2025, the total notional amount of foreign exchange derivatives was $76.4 million and $65.6 million, respectively. These contracts are short term in nature and are continually swapped at a notional value to offset the corresponding values. The majority of our foreign exchange derivatives matured in April 2026 and January 2026, respectively, but are continually swapped at maturity to track the underlying exposure. The Company recorded a liability of $0.1 million and a liability of less than $0.1 million as of June 28, 2026 and December 28, 2025, respectively, related to the fair market values of its foreign exchange derivatives.

Quantitative Summary of Derivative Positions and Their Effect on Results of Operations


	Derivatives Fair Value
Derivatives Not Designated as Hedging Instruments	June 28, 2026		December 28, 2025		Balance Sheet Location
Foreign currency derivatives	$	120	$	—	Prepaid expense and other current assets
Commodity derivatives	—		33		Prepaid expense and other current assets
Total Assets	$	120	$	33
Foreign currency derivatives	—		12		Accrued liabilities
Commodity derivatives	199		—		Accrued liabilities
Total Liabilities	$	199	$	12


	Derivatives Fair Value
Derivatives Designated as Hedging Instruments	June 28, 2026		December 28, 2025		Balance Sheet Location



Interest rate derivatives (current)	$	453	$	3,741	Accrued liabilities
Interest rate derivatives (noncurrent)	321		4,645		Other long-term obligations and deferred credits

Total Liabilities	$	774	$	8,386

The effect of derivative instruments in the Condensed Consolidated Statements of Operations for the quarter and two quarters ended June 28, 2026 and June 29, 2025 is as follows:


	Derivative Gain/(Loss) Recognized in Income for the Quarter Ended				Derivative Gain/(Loss) Recognized in Income for the Two Quarters Ended
Derivatives Designated as Hedging Instruments	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025		Location of Derivative Gain Recognized in Income
Loss/ (gain) on interest rate derivatives	$	(353)	$	336	$	(643)	$	623	Interest expense, net
	$	(353)	$	336	$	(643)	$	623


	Derivative Gain/(Loss) Recognized in Income for the Quarter Ended				Derivative Gain/(Loss) Recognized in Income for the Two Quarters Ended
Derivatives Not Designated as Hedging Instruments	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025		Location of Derivative (Loss)/Gain Recognized in Income
(Loss)/gain on foreign currency derivatives	$	379	$	(220)	$	132	$	(117)	Other non-operating (income)/expense, net
Loss/(gain) on commodity derivatives	(228)		45		(33)		140		Other non-operating (income)/expense, net
	$	151	$	(175)	$	99	$	23

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Description of Business and Summary of Significant Accounting Policies (Details)	3 Months Ended		6 Months Ended
	Jun. 28, 2026 USD ($)	Jun. 29, 2025 USD ($)	Jun. 28, 2026 USD ($) segment	Jun. 29, 2025 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Number of reportable segments \| segment			3
Number of operating segments \| segment			3
Other Asset Impairment Charges		$ 22.1
Finance lease, impairment loss		28,900,000	$ 3,200,000
Goodwill impairment	$ 0	$ 355,958,000	$ 0	$ 355,958,000
Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement, valuation technique, allocation, percentage			50.00%
Valuation Technique, Discounted Cash Flow \| Level 3 \| Measurement Input, Discount Rate \| Reporting Unit, U.S.
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Reporting unit, measurement input	0.100		0.100
Valuation Technique, Discounted Cash Flow \| Level 3 \| Measurement Input, Discount Rate \| Reporting Unit, KK U.K.
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Reporting unit, measurement input	0.120		0.120
Valuation Technique, Discounted Cash Flow \| Level 3 \| Measurement Input, Discount Rate \| Reporting Unit, KK Australia
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Reporting unit, measurement input	0.120		0.120
Valuation, Market Approach
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement, valuation technique, allocation, percentage			50.00%

Vendor Finance Programs (Details) - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Supplier Finance Program [Line Items]
Vendor finance program	$ 118,045	$ 104,883
Supply Chain Financing Programs
Supplier Finance Program [Line Items]
Vendor finance program	11,047	12,517
Structured Payables Programs
Supplier Finance Program [Line Items]
Vendor finance program	$ 106,998	$ 92,366

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
Cash paid for leases:
Operating cash flows for operating leases	$ 54,613	$ 61,102
Operating cash flows for finance leases	2,089	2,981
Financing cash flows for finance leases	7,343	10,744
Right of use assets obtained in exchange for new lease liabilities:
Operating leases	32,899	34,018
Finance leases	4,097	24,812
Variable lease, payment	$ 12,000	$ 15,100

Derivative Instruments - Schedule of Derivative Instruments in Condensed Consolidated Balance Sheets, Fair Value (Details) - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Derivatives, Fair Value [Line Items]
Derivative asset, fair value		$ 100
Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 120	33
Derivative liability, fair value	199	12
Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	774	8,386
Commodity derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	200
Foreign currency derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	100	100
Balance Sheet Location [Axis]: us-gaap:AccruedLiabilitiesCurrent \| Commodity derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	199	0
Balance Sheet Location [Axis]: us-gaap:AccruedLiabilitiesCurrent \| Foreign currency derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	0	12
Balance Sheet Location [Axis]: us-gaap:AccruedLiabilitiesCurrent \| Interest rate derivatives \| Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	453	3,741
Balance Sheet Location [Axis]: us-gaap:DeferredCreditsAndOtherLiabilitiesNoncurrent \| Interest rate derivatives \| Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	321	4,645
Balance Sheet Location [Axis]: us-gaap:PrepaidExpenseAndOtherAssetsCurrent \| Commodity derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	0	33
Balance Sheet Location [Axis]: us-gaap:PrepaidExpenseAndOtherAssetsCurrent \| Foreign currency derivatives \| Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	$ 120	$ 0

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Assets
Operating lease	$ 350,029	$ 395,523
Finance lease	42,080	53,233
Total lease assets	392,109	448,756
Current
Current operating lease liabilities	46,951	51,213
Current finance lease liabilities	16,286	21,614
Noncurrent
Noncurrent operating lease liabilities	351,011	395,895
Noncurrent finance lease liabilities	45,381	56,280
Total lease liabilities	$ 459,629	$ 525,002

Fair Value Measurements

6 Months Ended

Jun. 28, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following table presents assets and liabilities that are measured at fair value on a recurring basis as of June 28, 2026 and December 28, 2025:


	June 28, 2026
	Level 2
Assets:


Foreign currency derivatives	$	120

Total Assets	$	120

Liabilities:
Interest rate derivatives	$	774
Commodity derivatives	199

Total Liabilities	$	973


	December 28, 2025
	Level 2
Assets:


Commodity derivatives	$	33
Total Assets	$	33

Liabilities:
Foreign currency derivatives	$	12
Interest rate derivatives	8,386
Total Liabilities	$	8,398

There were no assets or liabilities measured using Level 1 or Level 3 inputs and no transfers of financial assets or liabilities among the levels within the fair value hierarchy during the two quarters ended June 28, 2026 and fiscal year ended December 28, 2025. The Company’s derivatives are valued using discounted cash flow analyses that incorporate observable market parameters, such as interest rate yield curves and currency rates.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Cover Page - shares shares in Millions	6 Months Ended
Cover Page - shares shares in Millions	Jun. 28, 2026	Jul. 30, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 28, 2026
Document Transition Report	false
Entity File Number	001-40573
Entity Registrant Name	Krispy Kreme, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	37-1701311
Entity Address, Address Line One	2116 Hawkins Street, Suite 101
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28203
City Area Code	800
Local Phone Number	457-4779
Title of 12(b) Security	Common stock, $0.01 par value per share
Entity Trading Symbol	DNUT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		173.5
Entity Central Index Key	0001857154
Current Fiscal Year End Date	--01-03
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Amendment Flag	false

Inventories - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
Inventories - Narrative (Details) - USD ($) $ in Thousands	Jun. 28, 2026	Jun. 29, 2025
Inventory Disclosure [Abstract]
Inventory write-off	$ (4)	$ 1,495

Long-Term Debt

6 Months Ended

Jun. 28, 2026

Debt Disclosure [Abstract]

Long-Term Debt

The Company’s long-term debt obligations consist of the following:


	June 28, 2026		December 28, 2025
2023 Facility — term loan	$	721,901	$	742,825
2023 Facility — revolving credit facility	70,000		157,500
Short-term lines of credit	12,892		2,514
Less: Debt issuance costs	(2,234)		(2,904)
Deferred financing obligations	1,024		—
Finance lease obligations	61,667		77,894
Total long-term debt	865,250		977,829
Less: Current portion of long-term debt	(71,036)		(65,977)
Long-term debt, less current portion	$	794,214	$	911,852

2023 Secured Credit Facility

The Company is party to a credit agreement (the “2023 Facility”) consisting of a $300.0 million senior secured revolving credit facility and a term loan with an original principal amount of $700.0 million. During the quarter ended June 29, 2025, the Company amended the 2023 Facility (referred to as the “2025 Amendment”) to, among other things, establish additional, incremental term loan commitments in an aggregate principal amount of $125.0 million. During the quarter ended June 29, 2025, the Company capitalized $0.8 million of debt issuance costs related to the 2025 Amendment.

Borrowings under the 2023 Facility are generally subject to an interest rate of adjusted term Secured Overnight Financing Rate (“SOFR”) plus a credit spread adjustment of 0.10% plus (i) 2.25% if the Company’s leverage ratio (as defined in the 2023 Facility) equals or exceeds 4.00 to 1.00, (ii) 2.00% if the Company’s leverage ratio is less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00, or (iii) 1.75% if the Company’s leverage ratio is less than 3.00 to 1.00. As of June 28, 2026 and December 28, 2025, the unhedged interest rates were 5.72% and 6.27% under the 2023 Facility, respectively. As of both June 28, 2026 and December 28, 2025, $550.0 million of the outstanding term loan balance was hedged, with the interest rate swap agreements scheduled to mature in March 2028. As of June 28, 2026 and December 28, 2025, the effective interest rates on the term loan were 5.99% and 6.06%, respectively. The Company is required to make installment payments equal to 1.25% of the aggregate closing date principal amounts of the term loan on the last day of each fiscal quarter. All remaining term loan and revolving loan balances are to be due at maturity in March 2028.

The 2023 Facility is secured by a first priority lien on substantially all of the Company’s personal property assets, certain real estate properties, and all of the Company’s U.S. wholly owned subsidiaries. Loans made pursuant to the 2023 Facility may be used for general corporate purposes of the Company (including, but not limited to, financing working capital needs, capital expenditures, acquisitions, and other investments) and for any other purpose not prohibited under the related loan documents. The 2025 Amendment imposed certain restrictions on the ability to make restricted payments, including dividends, if the leverage ratio under the 2023 Facility exceeds 3.00 to 1.00.

Short-Term Lines of Credit

The Company is party to two agreements with existing lenders providing for short-term, uncommitted lines of credit up to an aggregate of $25.0 million. Borrowings under these short-term lines of credit are payable to the lenders on a revolving basis for tenors up to three months and are subject to an interest rate of adjusted term SOFR plus a credit spread adjustment of 0.10% plus a margin of 1.75%.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Other Intangible Assets, net - Schedule of Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025	Dec. 28, 2025
Intangible assets with definite lives
Gross Carrying Amount	$ 360,899		$ 360,899		$ 462,416
Accumulated Amortization	(186,574)		(186,574)		(218,067)
Net Amount	174,325		174,325		244,349
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]
Gross Carrying Amount	914,299		914,299		1,015,816
Accumulated Amortization	(186,574)		(186,574)		(218,067)
Net Amount	727,725		727,725		797,749
Amortization of intangible assets	6,156	$ 7,830	13,964	$ 15,491
Trade names and trademarks
Intangible assets with indefinite lives
Trade names and trademarks	553,400		553,400		553,400
Franchise agreements
Intangible assets with definite lives
Gross Carrying Amount	27,154		27,154		27,154
Accumulated Amortization	(13,021)		(13,021)		(12,363)
Net Amount	14,133		14,133		14,791
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]
Accumulated Amortization	(13,021)		(13,021)		(12,363)
Customer relationships
Intangible assets with definite lives
Gross Carrying Amount	15,000		15,000		15,000
Accumulated Amortization	(8,574)		(8,574)		(8,142)
Net Amount	6,426		6,426		6,858
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]
Accumulated Amortization	(8,574)		(8,574)		(8,142)
Reacquired franchise rights
Intangible assets with definite lives
Gross Carrying Amount	318,745		318,745		420,262
Accumulated Amortization	(164,979)		(164,979)		(197,562)
Net Amount	153,766		153,766		222,700
Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]
Accumulated Amortization	$ (164,979)		$ (164,979)		$ (197,562)

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 28, 2026
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of June 28, 2026, the Company held minority equity interests in three entities, KK Brazil (45.0% ownership), Glaseadas Originales S.L. (“KK Spain”) (25.0% ownership), and W.K.S. Krispy Kreme (20.0% ownership) with an aggregate carrying value of $21.9 million. As of December 28, 2025, the Company held minority equity interests in three entities, Krispy Kreme France (33.0% ownership), KK Brazil (45.0% ownership), and KK Spain (25.0% ownership) with an aggregate carrying value of $7.4 million.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

+ Details

Segment Reporting (Tables)

6 Months Ended

Jun. 28, 2026

Segment Reporting [Abstract]

Segment Reporting

The reportable segment results are as follows:


	Quarter Ended				Two Quarters Ended
	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
U.S.(1)
Net revenues	$	172,680	$	230,099	$	394,230	$	466,643
Less:
Product and distribution costs, adjusted	42,924		56,756		96,272		114,586
Operating expenses, adjusted	96,662		139,224		216,486		274,746
Selling, general and administrative expense, adjusted	13,553		17,055		29,384		36,204
Marketing expenses, adjusted	5,437		7,408		11,844		14,242
Other segment items(2)	352		(275)		943		1,024

Total U.S. Adjusted EBITDA	$	13,752	$	9,931	$	39,301	$	25,841

International(1)
Net revenues	$	117,342	$	132,755	$	242,600	$	252,390
Less:
Product and distribution costs, adjusted	26,225		30,624		54,857		57,726
Operating expenses, adjusted	61,032		67,063		126,157		129,061
Selling, general and administrative expense, adjusted	12,359		13,056		26,652		25,777
Marketing expenses, adjusted	3,547		3,234		6,482		5,878
Other segment items(2)	(3)		557		(202)		830

Total International Adjusted EBITDA	$	14,182	$	18,221	$	28,654	$	33,118

Market Development(1)
Net revenues	$	40,973	$	16,913	$	61,199	$	35,918
Less:
Product and distribution costs, adjusted	16,824		5,109		23,168		10,657
Selling, general and administrative expense, adjusted	1,582		1,122		2,739		2,436
Other segment items(2)	3,181		1,734		4,272		2,830

Total Market Development Adjusted EBITDA	$	19,386	$	8,948	$	31,020	$	19,995




Total Reportable Segment
Total reportable segment net revenues	$	330,995	$	379,767	$	698,029	$	754,951
Total reportable segment Adjusted EBITDA	$	47,320	$	37,100	$	98,975	$	78,954

(1)Refer to Note 3, Acquisitions and Divestitures, for more information on the impact of refranchising.

(2)The U.S. and International segments’ Other segment items consist of pre-opening costs and other income, net. The Market Development segment’s Other segment items consist of operating expenses, marketing expenses, pre-opening costs, and other income, net.

The following table presents a reconciliation of net loss to Adjusted EBITDA:


	Quarter Ended				Two Quarters Ended
	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Net loss	$	(19,831)	$	(441,118)	$	(42,504)	$	(474,523)
Interest expense, net	13,375		16,696		28,999		32,892
Income tax expense/(benefit)	(4,259)		(20,453)		(676)		(23,120)
Share-based compensation	3,287		4,634		7,926		7,237
Employer payroll taxes related to share-based compensation	55		91		72		257
Loss on divestiture of Insomnia Cookies	—		11,501		—		11,501
Goodwill impairment	—		355,958		—		355,958
Other non-operating income, net (1)	(261)		(1,177)		(420)		(1,570)

Strategic initiatives (2)	3,119		22,867		10,319		25,220
Acquisition and integration expenses (3)	2,002		(182)		2,002		(111)
New market penetration expenses (4)	—		245		—		320
Shop closure expenses, net (5)	2,657		35,723		2,689		35,995
Restructuring and severance expenses (6)	33		4,839		427		4,947


Gain on sale-leaseback	—		(6,749)		—		(6,749)
Gain on refranchising (7)	—		—		(8,885)		—
Other (8)	1,622		1,454		2,831		6,154
Amortization of acquisition related intangibles (9)	6,156		7,830		13,964		15,491
Unallocated corporate expenses(10)	20,225		19,399		40,472		39,723
Depreciation expense and amortization of right of use assets	19,140		25,542		41,759		49,332
Reportable segment adjusted EBITDA	$	47,320	$	37,100	$	98,975	$	78,954

(1)Primarily foreign translation gains and losses in each period. The quarter and two quarters ended June 29, 2025 also consists of equity method income from Insomnia Cookies following the divestiture of a controlling interest in Insomnia Cookies during fiscal 2024 until the sale of our remaining interest in the second quarter of fiscal 2025.

(2)The quarter and two quarters ended June 28, 2026 consists primarily of $2.1 million and $6.3 million, respectively, of costs associated with the evaluation and execution of refranchising certain equity markets as well as $1.3 million and $4.2 million, respectively, in costs associated with the transition to third party logistics in the U.S.; of that amount $1.7 million and $3.3 million, respectively, is related to non-cash impairments. The quarter and two quarters ended June 29, 2025 consists primarily of $20.9 million and $23.3 million, respectively, of costs associated with preparing for and executing the U.S. national expansion (including McDonald’s).

(3)Consists of acquisition and integration-related costs in connection with the Company’s business and franchise acquisitions, including legal, due diligence, and advisory fees incurred in connection with acquisition and integration-related activities for the applicable period.

(4)Consists of start-up costs associated with entry into new countries in which the Company’s brands had not previously operated, including Brazil and Spain.

(5)Includes lease termination costs, impairment charges, and loss on disposal of property, plant and equipment.

(6)The quarter and two quarters ended June 28, 2026 consist primarily of costs associated with restructuring the Australia and New Zealand business. The quarter and two quarters ended June 29, 2025 consist primarily of costs associated with restructuring of the U.S. and U.K. businesses.

(7)Includes gains and losses on the deconsolidation of assets and liabilities associated with the refranchising of Krispy Kreme shops.

(8)The quarter and two quarters ended June 28, 2026 consists primarily of $0.8 million and $1.6 million, respectively, of legal fees primarily related to shareholder derivative litigation. Refer to Note 13, Commitments and Contingencies, to the Condensed Consolidated Financial Statements for more information on the Company’s pending litigation. The quarter and two quarters ended June 29, 2025 consists primarily of $0.9 million and $5.3 million, respectively, in costs related to remediation of the 2024 Cybersecurity Incident, including fees for cybersecurity experts and other advisors.

(9)Consists of amortization related to acquired intangible assets as reflected within depreciation and amortization in the Condensed Consolidated Statements of Operations.

(10)Corporate expenses are not included in the CODM’s measure of segment profitability. These amounts are presented as a reconciling item between total reportable segment Adjusted EBITDA and consolidated Adjusted EBITDA. In the quarter and two quarters ended June 28, 2026 corporate expenses consist primarily of $20.2 million and $40.5 million, respectively, and the quarter and two quarters ended June 29, 2025 consist of $19.4 million and $39.7 million, respectively, in selling, general and administrative expenses, which principally comprise payroll and benefits for corporate functions, professional fees, enterprise information technology, and other headquarters costs.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

Revision of Financial Statements - Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 28, 2026	Mar. 29, 2026	Jun. 29, 2025	Mar. 30, 2025	Jun. 28, 2026	Jun. 29, 2025
Equity, Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 28, 2025		$ 2,657			$ 2,657
Net income/(loss) attributable to noncontrolling interest	$ 480		$ (5,858)		591	$ (5,979)
Other comprehensive income/(loss), before reclassifications	3,462	3,699	24,948	$ 4,174
Balance at June 28, 2026	1,724				1,724
Net Income (Loss) Attributable to Parent [Abstract]
Net loss attributable to Krispy Kreme, Inc.	(20,311)		(435,260)		(43,095)	(468,544)
Accretion to redemption value of redeemable noncontrolling interest		$ (5,404)			(5,404)	(4,290)
Net loss attributable to common shareholders - Basic	(20,311)		(435,260)		(48,499)	(472,834)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares	0		0		0	0
Net loss attributable to common shareholders - Diluted	$ (20,311)		$ (435,260)		$ (48,499)	$ (472,834)
Basic weighted average common shares outstanding (in shares)	172,578,000		170,802,000		172,299,000	170,546,000
Dilutive effect of outstanding common stock options, RSUs, and PSUs (in shares)						0
Diluted weighted average common shares outstanding (in shares)	172,578,000		170,802,000		172,299,000	170,546,000
Basic earnings/(loss) per share (in dollars per shares)	$ (0.12)		$ (2.55)		$ (0.28)	$ (2.77)
Diluted earnings/(loss) per share (in dollars per shares)	$ (0.12)		$ (2.55)		$ (0.28)	$ (2.77)
Noncontrolling Interest
Equity, Attributable to Noncontrolling Interest [Roll Forward]
Other comprehensive income/(loss), before reclassifications	$ (9)		$ 1,345	41
Previously Reported
Equity, Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 28, 2025			29,847	29,895		$ 29,895
Net income/(loss) attributable to noncontrolling interest			(5,858)	(121)
Other comprehensive income/(loss), before reclassifications			668	73
Balance at June 28, 2026			24,657	29,847		24,657
Net Income (Loss) Attributable to Parent [Abstract]
Net loss attributable to Krispy Kreme, Inc.						(468,544)
Accretion to redemption value of redeemable noncontrolling interest						0
Net loss attributable to common shareholders - Basic						(468,544)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares						0
Net loss attributable to common shareholders - Diluted						$ (468,544)
Basic weighted average common shares outstanding (in shares)						170,546,000
Dilutive effect of outstanding common stock options, RSUs, and PSUs (in shares)						0
Diluted weighted average common shares outstanding (in shares)						170,546,000
Basic earnings/(loss) per share (in dollars per shares)						$ (2.75)
Diluted earnings/(loss) per share (in dollars per shares)						$ (2.75)
Revision of Prior Period, Error Correction, Adjustment
Equity, Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 28, 2025			(27,588)	(27,297)		$ (27,297)
Net income/(loss) attributable to noncontrolling interest			97	(259)
Other comprehensive income/(loss), before reclassifications			677	(32)
Balance at June 28, 2026			(26,814)	(27,588)		(26,814)
Net Income (Loss) Attributable to Parent [Abstract]
Net loss attributable to Krispy Kreme, Inc.						0
Accretion to redemption value of redeemable noncontrolling interest						(4,290)
Net loss attributable to common shareholders - Basic						(4,290)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares						0
Net loss attributable to common shareholders - Diluted						$ (4,290)
Basic weighted average common shares outstanding (in shares)						0
Dilutive effect of outstanding common stock options, RSUs, and PSUs (in shares)						0
Diluted weighted average common shares outstanding (in shares)						0
Basic earnings/(loss) per share (in dollars per shares)						$ (0.02)
Diluted earnings/(loss) per share (in dollars per shares)						$ (0.02)
Revised Amount
Equity, Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 28, 2025			2,259	2,598		$ 2,598
Net income/(loss) attributable to noncontrolling interest			(5,761)	(380)
Other comprehensive income/(loss), before reclassifications			1,345	41
Balance at June 28, 2026			$ (2,157)	$ 2,259		$ (2,157)

Share-based Compensation

6 Months Ended

Jun. 28, 2026

Share-Based Payment Arrangement [Abstract]

Share-based Compensation

Restricted Stock Units (“RSUs”) and Performance-based RSUs (“PSUs”)

KKI issues time-vested RSUs and PSUs under the Krispy Kreme, Inc. 2021 Omnibus Incentive Plan (“Omnibus Plan”). Certain subsidiaries issue time-vested RSUs under their respective executive ownership plans and long-term incentive plans.

RSU and PSU activity under these plans during the periods presented is as follows:


(in thousands, except per share amounts)	Non-vested shares outstanding at December 28, 2025		Granted	Vested		Forfeited		Non-vested shares outstanding at June 28, 2026
KKI
RSUs and PSUs	10,669		3,620	1,320		1,039		11,930
Weighted Average Grant Date Fair Value	$	5.97	3.90	$	9.73	$	6.01	$	5.16






KK Australia
RSUs	21		—	18		3		—
Weighted Average Grant Date Fair Value	$	1.72	—	$	1.72	$	1.72	$	—
KK Mexico
RSUs	1		—	1		—		—
Weighted Average Grant Date Fair Value	$	40.14	—	$	40.14	$	—	$	—

The Company recorded total non-cash compensation expense related to the RSUs and PSUs under the plans of $3.1 million and $7.3 million for the quarter and two quarters ended June 28, 2026, respectively and $4.2 million and $6.4 million for the quarter and two quarters ended June 29, 2025, respectively, which is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations.

The unrecognized compensation cost related to the unvested RSUs and PSUs and the weighted average period over which such cost is expected to be recognized are as follows:


	As of June 28, 2026
	Unrecognized Compensation Cost		Recognized Over a Weighted Average Period of
KKI	$	38,588	2.3 years

Time-Vested Stock Options

KKI issues time-vested stock options under the Omnibus Plan. The fair value of time-vested stock options was estimated on the date of grant using the Black-Scholes option pricing model.

The status of the time-vested stock options as of December 28, 2025 and changes during the first two quarters of fiscal 2026 are presented below:


	Share options outstanding at						Share options outstanding at
(in thousands, except per share amounts)	December 28, 2025		Granted	Exercised	Forfeited or Expired		June 28, 2026
KKI
Options	2,558		—	—	243		2,315
Weighted Average Grant Date Fair Value	$	2.46	—	—	$	1.63	$	2.54
Weighted Average Exercise Price	$	5.43	—	—	$	3.35	$	5.65

The Company recorded total non-cash compensation expense related to the time-vested stock options of $0.2 million and $0.6 million for the quarter and two quarters ended June 28, 2026, respectively, and $0.4 million and $0.8 million for the quarter and two quarters ended June 29, 2025, respectively, which is included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations.

The unrecognized compensation cost related to the stock options and the weighted average period over which such cost is expected to be recognized are as follows:


	As of June 28, 2026
	Unrecognized Compensation Cost		Recognized Over a Weighted Average Period of
KKI	$	1,962	2.1 years

No time-vested stock options vested during the quarter and two quarters ended June 28, 2026 or June 29, 2025.

Acquisitions and Divestitures (Tables) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 29, 2025

Jun. 28, 2026

Jun. 29, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Calculation for Loss on Divestiture

As a result of KKDC’s ownership interest decreasing to 20%, KKI deconsolidated W.K.S. Krispy Kreme from the Company’s Condensed Consolidated Financial Statements and recorded a loss on divestiture of $33.8 million (gross of income taxes) which is included within Gain on refranchising in the Condensed Consolidated Statements of Operations. The loss on divestiture was recognized upon the deconsolidation of W.K.S. Krispy Kreme on March 23, 2026. Accordingly, the following table reflects the calculation of the one-time loss recognized as of the transaction date and is not presented for the first two quarters of 2026. The loss recognized was calculated as follows:


	As of March 29, 2026
Cash proceeds, net of cash disposed	$	53,487
Seller note received	40,404
Fair value of retained noncontrolling interest in W.K.S. Krispy Kreme - common and preferred shares	14,831
Carrying value of California Assets, Hawaii Assets, and former redeemable noncontrolling interest in W.K.S Krispy Kreme	4,150
Less: Carrying value of California Assets, Hawaii Assets, and net assets of W.K.S. Krispy Kreme, including cash and cash equivalents (1)	(140,999)
Less: Direct costs to sell	(1,508)
Loss on divestiture	$	(33,785)

(1) The net book value of W.K.S. Krispy Kreme represents the carrying value of the net assets contributed by Krispy Kreme, Inc. in exchange for the consideration transferred and is presented net of the redeemable noncontrolling interest described in the table above. The gross carrying value of W.K.S. Krispy Kreme’s net assets, before giving effect to the redeemable noncontrolling interest, was approximately $145 million.

Purchase of equity method investment

$ 2,100

$ 2,140

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 102
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483474/205-20-55-102

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-11

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483474/205-20-55-103

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480781/205-20-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

+ Details

Acquisitions and Divestitures

6 Months Ended

Jun. 28, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Acquisitions and Divestitures

2026 Acquisitions and Divestitures

Equity Method Investments

During the second quarter of 2026, the Company acquired the remaining equity interest in Krispy Kreme France, increasing its ownership from 33.0% to 100%. Prior to the acquisition, the Company accounted for its investment in Krispy Kreme France under the equity method. The Company-owned operations in France remain presented in the Company’s Market Development segment as management evaluates strategic alternatives for the France business. As a result of the transaction, Krispy Kreme France is now fully consolidated. The acquisition was not material to the Company's consolidated financial statements. Accordingly, the disclosures otherwise required by ASC 805, including pro forma results of operations, have been omitted.

W.K.S. Krispy Kreme and Awesome Doughnut

On March 23, 2026 (the “Effective Date”), Krispy Kreme, Inc., through its wholly owned subsidiaries, Awesome Doughnut, LLC (“Awesome Doughnut”) and Krispy Kreme Doughnut Corporation (“KKDC”), completed transactions with its joint venture partner, WKS Restaurant Group (“WKS”), as a result of which: (i) WKS’s indirect ownership stake in the Company’s Western U.S. joint venture, W.K.S. Krispy Kreme, increased from 45% to 80%; and (ii) KKDC’s ownership stake in W.K.S. Krispy Kreme decreased from 55% to 20% (the “WKS Refranchising”). The WKS Refranchising included the following principal components:

•Awesome Doughnut entered into an Asset Purchase Agreement (the “APA”) with W.K.S. KK HoldCo, Inc., an affiliate of WKS (“WKS Holdco”), pursuant to which WKS Holdco acquired, as of the Effective Date, substantially all of the franchise rights, operating assets, equipment, personal property, vehicles, goodwill, and business of the Awesome Doughnut-owned and operated Krispy Kreme shops in California (collectively, the “California Assets”) from Awesome Doughnut for an aggregate purchase price of $40.4 million, paid through delivery of a promissory note issued by WKS Holdco, as borrower, payable to Awesome Doughnut, as lender (“Seller Note”). The Seller Note bears interest at a rate of five percent (5%) per annum, payable quarterly in cash or in-kind at the option of the borrower. The Seller Note matures on March 22, 2032, and allows for prepayment without penalty. The Seller Note is secured by a pledge agreement between WKS Holdco and Awesome Doughnut, pursuant to which WKS Holdco pledged its equity interests in W.K.S. Krispy Kreme and other securities, as collateral. The Seller Note is subordinate to the new debt financing obtained by W.K.S. Krispy Kreme described below.

•WKS Holdco contributed the California Assets and $13 million in cash to W.K.S. Krispy Kreme, in exchange for equity interests in W.K.S. Krispy Kreme. In addition, KKDC contributed the franchise rights, operating assets, equipment, personal property, vehicles, goodwill, and business of the Company-owned and operated Krispy Kreme shop in Hawaii (the “Hawaii Assets”) to W.K.S. Krispy Kreme, in exchange for equity interests in W.K.S. Krispy Kreme, pursuant to a Contribution and Exchange Agreement, dated as of the Effective Date, by and between KKDC and the JV. Following the foregoing contributions, WKS’s ownership stake in W.K.S. Krispy Kreme through its affiliate increased to 80% and KKDC’s ownership percentage decreased to 20%. As part of the WKS Refranchising, utilizing in part the proceeds of new debt financing obtained by W.K.S. Krispy Kreme, W.K.S. Krispy Kreme repaid in cash to KKDC the approximately $53.5 million balance of existing intercompany debt owed to KKDC by W.K.S. Krispy Kreme.


	As of March 29, 2026
Cash proceeds, net of cash disposed	$	53,487
Seller note received	40,404
Fair value of retained noncontrolling interest in W.K.S. Krispy Kreme - common and preferred shares	14,831
Carrying value of California Assets, Hawaii Assets, and former redeemable noncontrolling interest in W.K.S Krispy Kreme	4,150
Less: Carrying value of California Assets, Hawaii Assets, and net assets of W.K.S. Krispy Kreme, including cash and cash equivalents (1)	(140,999)
Less: Direct costs to sell	(1,508)
Loss on divestiture	$	(33,785)

The Company’s 20% ownership in W.K.S. Krispy Kreme consists of common and preferred shares of W.K.S. Krispy Kreme. The Company does not have a controlling interest but does exercise significant influence. As such, the Company accounts for this investment under the equity method of accounting in accordance with ASC 323 for the common shares owned. The Company’s preferred shares were determined not to be in-substance common stock, and as such are not eligible for the equity method of accounting under ASC 323. These preferred shares are instead accounted for as an equity security in accordance with ASC 321. Equity investments are included within Other assets on the Condensed Consolidated Balance Sheets.

Concurrently with the WKS Refranchising, the Company and W.K.S. Krispy Kreme entered into a six-year consulting agreement, effective March 23, 2026, under which the Company will provide strategic advisory services to the joint venture, including governance and strategy support, brand and market advisory, operational and risk advisory, and transitional back-office support services.

Divestiture of Krispy Kreme Japan

On March 2, 2026, the Company completed the sale of 100% of its equity interests in Krispy Kreme Japan for gross cash proceeds of $69.3 million. Krispy Kreme Japan was a previously consolidated entity, and KKI recognized a gain on divestiture of $42.4 million (gross of income taxes) which is included within Gain on refranchising in the Condensed Consolidated Statements of Operations.

2025 Acquisitions and Divestitures

Equity Method Investments

In the quarter ended June 29, 2025, the Company invested approximately $2.1 million in cash to maintain a 45.0% noncontrolling ownership interest in Krispy Kreme Doughnuts Brasil S.A. (“KK Brazil”). As the Company has the ability to exercise significant influence over KK Brazil, but does not have the ability to exercise control, the investment is accounted for using the equity method, and equity method earnings are recognized within Other income, net in the Condensed Consolidated Statements of Operations.

Divestiture of Insomnia Cookies

In the quarter ended June 29, 2025, the Company sold the remainder of its ownership interest in Insomnia Cookies Holdings, LLC (“Insomnia Cookies”) for aggregate cash proceeds of $75.0 million. Insomnia Cookies was previously accounted for using the equity method, and the Company recognized a loss on divestiture of $11.5 million (gross of income taxes) which is included within Loss on divestiture of Insomnia Cookies in the Condensed Consolidated Statements of Operations.

Share-based Compensation - Schedule of Stock Option Activity (Details) - KKI - $ / shares	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026
Options
Beginning balance, share options outstanding (in shares)			2,558,000
Granted (in shares)			0
Exercised (in shares)			0
Forfeited or expired (in shares)			243,000
Ending balance, share options outstanding (in shares)	2,315,000		2,315,000
Forfeited or expired (in USD per share)			$ 1,630
Exercised (in USD per share)			0
Granted (in USD per share)			0
Weighted Average Grant Date Fair Value
Beginning balance, share options outstanding (in USD per share)			2,460
Ending balance, share options outstanding (in USD per share)	$ 2,540		2,540
Forfeited or expired (in USD per share)			3,350
Exercised (in USD per share)			0
Granted (in USD per share)			0
Weighted Average Exercise Price
Beginning balance, share options outstanding (in USD per share)			5,430
Ending balance, share options outstanding (in USD per share)	$ 5,650		$ 5,650
Stock options vested (in shares)	0	0

Leases - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Operating lease cost
Short-term lease cost	$ 303	$ 1,562	$ 777	$ 2,745
Variable lease costs	5,974	8,078	12,023	15,075
Sublease income	(906)	(92)	(985)	(176)
Amortization of right of use assets	3,267	5,746	7,125	11,042
Interest on lease liabilities	962	1,524	2,067	2,988
Income Statement Location [Axis]: us-gaap:OtherCostAndExpenseOperating
Operating lease cost
Operating lease cost	19,457	22,988	41,547	45,101
Income Statement Location [Axis]: us-gaap:SellingGeneralAndAdministrativeExpense
Operating lease cost
Operating lease cost	$ 691	$ 736	$ 1,329	$ 1,537

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Income Tax Disclosure [Abstract]
Effective income tax rate	17.70%	4.40%	1.60%	4.60%

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Leases [Abstract]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 12,400		$ 12,400
Finance lease, impairment loss		$ 28,900	3,200
Proceeds from sale-leaseback			0	$ 10,882
Gain on sale-leaseback	$ 0	$ 6,749	$ 0	$ 6,749

Fair Value Measurements (Details) - Fair value, recurring - Level 2 - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Assets:
Total Assets	$ 120	$ 33
Liabilities:
Total Liabilities	973	8,398
Interest rate derivatives
Liabilities:
Derivative liabilities	774
Commodity derivatives
Assets:
Derivative assets		33
Liabilities:
Derivative liabilities	199	8,386
Foreign currency derivatives
Assets:
Derivative assets	$ 120
Liabilities:
Derivative liabilities		$ 12

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Statement [Line Items]
Total net revenues	$ 330,995	$ 379,767	$ 698,029	$ 754,951
Product and distribution costs	86,037	92,627	174,367	183,363
Operating expenses	158,869	210,712	346,975	409,555
Selling, general and administrative expense	53,695	62,920	111,728	122,325
Marketing expenses	11,086	12,185	21,205	22,424
Pre-opening costs	0	1,471	194	2,400
Goodwill and other asset impairments	4,238	406,932	6,126	407,094
Gain on refranchising, net	0	0	(8,885)	0
Other income (expense), net	1,039	(8,311)	1,798	(7,073)
Depreciation and amortization expense	27,007	35,782	59,122	69,683
Operating loss	(10,976)	(434,551)	(14,601)	(454,820)
Interest expense, net	13,375	16,696	28,999	32,892
Loss on divestiture of Insomnia Cookies	0	11,501	0	11,501
Other non-operating income, net	261	1,177	420	1,570
Loss before income taxes	(24,090)	(461,571)	(43,180)	(497,643)
Income tax expense/(benefit)	(4,259)	(20,453)	(676)	(23,120)
Net loss	(19,831)	(441,118)	(42,504)	(474,523)
Net income/(loss) attributable to noncontrolling interest	480	(5,858)	591	(5,979)
Net loss attributable to Krispy Kreme, Inc.	$ (20,311)	$ (435,260)	$ (43,095)	$ (468,544)
Net loss per share:
Common stock — Basic (in dollars per share)	$ (0.12)	$ (2.55)	$ (0.28)	$ (2.77)
Common stock — Diluted (in dollars per share)	$ (0.12)	$ (2.55)	$ (0.28)	$ (2.77)
Weighted average shares outstanding:
Basic (in shares)	172,578,000	170,802,000	172,299,000	170,546,000
Diluted (in shares)	172,578,000	170,802,000	172,299,000	170,546,000
Previously Reported
Statement [Line Items]
Net income/(loss) attributable to noncontrolling interest		$ (5,858)
Net loss attributable to Krispy Kreme, Inc.				$ (468,544)
Net loss per share:
Common stock — Basic (in dollars per share)				$ (2.75)
Common stock — Diluted (in dollars per share)				$ (2.75)
Weighted average shares outstanding:
Basic (in shares)				170,546,000
Diluted (in shares)				170,546,000
Product sales
Statement [Line Items]
Total net revenues	$ 315,674	371,377	$ 673,112	$ 737,856
Royalties and other revenues
Statement [Line Items]
Total net revenues	$ 15,321	$ 8,390	$ 24,917	$ 17,095

Derivative Instruments - Schedule of Derivative Instruments in Condensed Consolidated Statements of Operations, Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives designated as hedging instruments	$ (353)	$ 336	$ (643)	$ 623
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	151	(175)	99	23
Interest rate derivatives \| Income Statement Location [Axis]: dnut:InterestIncomeExpenseNetExcludingRelatedParty
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives designated as hedging instruments	(353)	336	(643)	623
Foreign currency derivatives \| Income Statement Location [Axis]: us-gaap:OtherNonoperatingIncomeExpense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	379	(220)	132	(117)
Commodity derivatives \| Income Statement Location [Axis]: us-gaap:OtherNonoperatingIncomeExpense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative gain (loss) recognised in income, derivatives not designated as hedging instruments	$ (228)	$ 45	$ (33)	$ 140

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Related Party Transactions (Details) $ in Thousands	3 Months Ended		6 Months Ended
Related Party Transactions (Details) $ in Thousands	Jun. 28, 2026 USD ($) equity_method_investment	Jun. 29, 2025 USD ($)	Jun. 28, 2026 USD ($) equity_method_investment	Jun. 29, 2025 USD ($)	Dec. 28, 2025 USD ($) equity_method_investment
Related Party Transaction [Line Items]
Number of franchisees \| equity_method_investment	3,000		3,000		3,000
Investments in unconsolidated entities	$ 21,947		$ 21,947		$ 7,413
Acquisition and integration expenses	2,002	$ (182)	2,002	$ (111)
Equity Method Investee
Related Party Transaction [Line Items]
Investments in unconsolidated entities	$ 21,900		$ 21,900		$ 7,400
Krispy Kreme France
Related Party Transaction [Line Items]
Ownership percentage	100.00%		100.00%		33.00%
Krispy Kreme Brazil
Related Party Transaction [Line Items]
Ownership percentage	45.00%	45.00%	45.00%	45.00%	45.00%
Krispy Kreme Spain
Related Party Transaction [Line Items]
Ownership percentage	25.00%		25.00%		25.00%
W.K.S. Krispy Kreme
Related Party Transaction [Line Items]
Ownership percentage	20.00%		20.00%

Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Statement of Comprehensive Income [Abstract]
Unrealized income on cash flow hedges, tax expense (benefit)	$ (0.6)	$ 0.6	$ (1.9)	$ 2.1

Leases

6 Months Ended

Jun. 28, 2026

Leases [Abstract]

Leases

The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets:


		As of
		June 28, 2026		December 28, 2025
Assets	Classification
Operating lease	Operating lease right of use assets, net	$	350,029	$	395,523
Finance lease	Property and equipment, net	42,080		53,233
Total lease assets		$	392,109	$	448,756
Liabilities
Current
Operating lease	Current operating lease liabilities	$	46,951	$	51,213
Finance lease	Current portion of long-term debt	16,286		21,614
Noncurrent
Operating lease	Noncurrent operating lease liabilities	351,011		395,895
Finance lease	Long-term debt, less current portion	45,381		56,280
Total lease liabilities		$	459,629	$	525,002

In connection with the WKS Refranchising, including the disposition of the California Assets and the Hawaii Assets, certain lease agreements associated with the transferred shops were assigned to W.K.S. Krispy Kreme. In instances where the Company was not relieved of its primary obligations under the original lease agreements, the Company accounts for these arrangements as subleases. Under ASC 842, the Company continues to recognize the operating lease liability and right-of-use asset for subleases that were determined to be operating leases. The Company derecognized right-of-use assets for subleases that were determined to be sales-type leases and recognized an immaterial investment in sublease and lease liability.

The Company remains contingently liable for lease payments in the event that W.K.S. Krispy Kreme defaults on the assigned lease obligations. The undiscounted maximum potential future payments under these lease arrangements were $12.4 million as of the balance sheet date. The Company has not recorded a liability for these guarantees as the likelihood of making future payments is not considered probable.

Refer to Note 3, Acquisitions and Divestitures, for more information on the impact of refranchising.

Lease costs were as follows:


		Quarter Ended				Two Quarters Ended
		June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Lease cost	Classification
Operating lease cost	Selling, general and administrative expense	$	691	$	736	$	1,329	$	1,537
Operating lease cost	Operating expenses	19,457		22,988		41,547		45,101
Short-term lease cost	Operating expenses	303		1,562		777		2,745
Variable lease costs	Operating expenses	5,974		8,078		12,023		15,075
Sublease income	Royalties and other revenues	(906)		(92)		(985)		(176)
Finance lease cost:
Amortization of right of use assets	Depreciation and amortization expense	$	3,267	$	5,746	$	7,125	$	11,042
Interest on lease liabilities	Interest expense, net	962		1,524		2,067		2,988

Supplemental disclosures of cash flow information related to leases were as follows:


	Two Quarters Ended
	June 28, 2026		June 29, 2025
Other information
Cash paid for leases:
Operating cash flows for operating leases (1)	$	54,613	$	61,102
Operating cash flows for finance leases	2,089		2,981
Financing cash flows for finance leases	7,343		10,744
Right of use assets obtained in exchange for new lease liabilities:
Operating leases	$	32,899	$	34,018
Finance leases	4,097		24,812

(1)Operating cash flows for operating leases include variable rent payments, which are not included in the measurement of lease liabilities. Variable rent payments were $12.0 million for the two quarters ended June 28, 2026 and $15.1 million for the two quarters ended June 29, 2025.

In the two quarters ended June 28, 2026, the Company recognized a net loss of $3.2 million included in Other expenses, net on the Condensed Consolidated Statement of Operations, primarily related to the impairment and termination of leases related to fleet assets.

During the two quarters ended June 29, 2025, the Company completed two sale-leaseback transactions involving building and land properties for total proceeds of $10.9 million. The leasebacks were classified as operating leases, allowing the transactions to qualify as sales under ASC 842. As a result, the Company recognized a gain on sale of $6.7 million in Other income, net.

Leases

The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets:


		As of
		June 28, 2026		December 28, 2025
Assets	Classification
Operating lease	Operating lease right of use assets, net	$	350,029	$	395,523
Finance lease	Property and equipment, net	42,080		53,233
Total lease assets		$	392,109	$	448,756
Liabilities
Current
Operating lease	Current operating lease liabilities	$	46,951	$	51,213
Finance lease	Current portion of long-term debt	16,286		21,614
Noncurrent
Operating lease	Noncurrent operating lease liabilities	351,011		395,895
Finance lease	Long-term debt, less current portion	45,381		56,280
Total lease liabilities		$	459,629	$	525,002

Refer to Note 3, Acquisitions and Divestitures, for more information on the impact of refranchising.

Lease costs were as follows:


		Quarter Ended				Two Quarters Ended
		June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Lease cost	Classification
Operating lease cost	Selling, general and administrative expense	$	691	$	736	$	1,329	$	1,537
Operating lease cost	Operating expenses	19,457		22,988		41,547		45,101
Short-term lease cost	Operating expenses	303		1,562		777		2,745
Variable lease costs	Operating expenses	5,974		8,078		12,023		15,075
Sublease income	Royalties and other revenues	(906)		(92)		(985)		(176)
Finance lease cost:
Amortization of right of use assets	Depreciation and amortization expense	$	3,267	$	5,746	$	7,125	$	11,042
Interest on lease liabilities	Interest expense, net	962		1,524		2,067		2,988

Supplemental disclosures of cash flow information related to leases were as follows:


	Two Quarters Ended
	June 28, 2026		June 29, 2025
Other information
Cash paid for leases:
Operating cash flows for operating leases (1)	$	54,613	$	61,102
Operating cash flows for finance leases	2,089		2,981
Financing cash flows for finance leases	7,343		10,744
Right of use assets obtained in exchange for new lease liabilities:
Operating leases	$	32,899	$	34,018
Finance leases	4,097		24,812

Net Loss per Share - Schedule of Antidilutive Unvested RSUs Excluded from Computation of Net Loss per Share (Details) - Restricted Stock Units (RSUs) - shares	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
KKI
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	11,930,000	8,513,000	11,930,000	8,513,000
KK Australia
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	0	74,000	0	74,000
KK Mexico
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	0	18,000	0	18,000

Inventories

6 Months Ended

Jun. 28, 2026

Inventory Disclosure [Abstract]

Inventories

The components of Inventories are as follows:


	June 28, 2026		December 28, 2025
Raw materials	$	17,951	$	18,003
Work in progress	303		156
Finished goods and purchased merchandise	10,412		8,718
Total inventories	$	28,666	$	26,877

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 28, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Pending Litigation Securities Litigation On May 16, 2025 and June 30, 2025, shareholders of the Company filed separate putative federal securities class actions in the Western District of North Carolina against the Company, its Chief Executive Officer (“CEO”), and its former Chief Financial Officer (“CFO”). The actions, which were subsequently consolidated, allege that, throughout the proposed putative class periods, defendants made materially false and/or misleading statements and/or failed to disclose materially adverse facts concerning the Company’s business, operations, and prospects related to the Business Relationship Agreement with McDonald’s USA. Briefing on the Company’s motion to dismiss was completed on May 21, 2026. The decision is pending. This matter is currently in the pleading phase. The Company has engaged external counsel and intends to vigorously defend against these claims. It is too soon to predict with any certainty what, if any, damages could be awarded if liability were found. Data Breach Litigation On June 16, 2025, the Company released a Notice of Data Breach stating that on November 29, 2024, the Company became aware of the 2024 Cybersecurity Incident (defined below) and on May 22, 2025, the Company’s investigation determined that personal information of certain individuals was affected. Beginning on June 20, 2025, several putative class action lawsuits were filed against the Company in the Middle District of North Carolina, the Western District of North Carolina, and in California state court. The actions, which were subsequently consolidated, assert claims of negligence, negligence per se, unjust enrichment, breach of implied contract, breach of the implied covenant of good faith and fair dealing, breach of confidence, breach of fiduciary duty, breach of bailment, invasion of privacy, declaratory judgment, and violations of California and North Carolina statutory law, arising from the Company’s alleged failure to secure and safeguard the personally identifiable information and private health information of plaintiffs and purported class members. The Company has engaged external counsel to defend against the data breach litigation. The Company reached a settlement with plaintiffs in the amount of approximately $1.6 million, which the court approved on July 6, 2026. Shareholder Derivative Litigation On June 13, 2025, June 25, 2025, and August 19, 2025 purported shareholders of the Company filed shareholder derivative actions in the Western District of North Carolina against its CEO, its former CFO, and current and former members of its Board of Directors. The actions, which were subsequently consolidated, allege that the derivative defendants breached their fiduciary duties by allowing the Company to issue materially false and misleading statements and failing to maintain adequate internal controls. The consolidated derivative action is currently stayed until a decision is rendered on the motion to dismiss in the related securities class action or upon motion of one of the parties following 30 days’ notice. This matter is currently in the pleading phase, and the Company has engaged external counsel with respect to this matter. Other Legal Matters The Company also is engaged in various legal proceedings arising in the normal course of business. The Company maintains insurance policies against certain kinds of such claims and suits, including insurance policies for workers’ compensation and personal injury, all of which are subject to deductibles. While the ultimate outcome of these matters could differ from management’s expectations, management currently does not believe their resolution will have a material adverse effect on the Company’s audited Consolidated Financial Statements. Other Commitments and Contingencies The Company’s primary banks and insurance carriers issued letters of credit and surety bonds on its behalf totaling $23.7 million and $24.4 million as of June 28, 2026 and December 28, 2025, respectively, a majority of which secure the Company’s reimbursement obligations to insurers under its self-insurance arrangements.

Long-Term Debt - Narrative (Details)	3 Months Ended	6 Months Ended
Long-Term Debt - Narrative (Details)	Jun. 28, 2026 USD ($) agreement	Jun. 28, 2026 USD ($)	Mar. 29, 2026 USD ($)	Dec. 28, 2025	Mar. 31, 2023 USD ($)
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 25,000,000.0	$ 25,000,000.0
Debt instrument, basis spread on variable rate	1.75%
Number of agreements \| agreement	2
Secured Overnight Financing Rate (SOFR) \| Credit Facility
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.10%
2023 Facility \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.72%	5.72%		6.27%
2023 Facility \| Credit Spread Adjustment
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.10%
2023 Facility \| Leverage Ratio equal to or exceeds 4.00 to 1.00 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
2023 Facility \| Leverage Ratio less than 4.00 to 1.00 but greater than or equal to 3.00 to 1.00 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.00%
2023 Facility \| Leverage Ratio less than 3.00 to 1.00 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
2023 Facility \| Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 700,000,000.0
Debt instrument, interest rate, effective percentage	5.99%	5.99%		6.06%
2025 Amendment to 2023 Facility
Debt Instrument [Line Items]
Debt issuance costs capitalized			$ 800,000
2025 Amendment to 2023 Facility \| Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 125,000,000.0
Revolving Credit Facility \| 2023 Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 300,000,000.0
Revolving Credit Facility \| 2023 Facility \| Credit Facility
Debt Instrument [Line Items]
Debt covenant on restriction of payments, leverage ratio, trigger (exceeds)	3.00	3.00
Term Loan \| 2023 Facility \| Credit Facility
Debt Instrument [Line Items]
Periodic payment, principal, percentage		1.25%

Long-Term Debt (Tables)

6 Months Ended

Jun. 28, 2026

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

The Company’s long-term debt obligations consist of the following:


	June 28, 2026		December 28, 2025
2023 Facility — term loan	$	721,901	$	742,825
2023 Facility — revolving credit facility	70,000		157,500
Short-term lines of credit	12,892		2,514
Less: Debt issuance costs	(2,234)		(2,904)
Deferred financing obligations	1,024		—
Finance lease obligations	61,667		77,894
Total long-term debt	865,250		977,829
Less: Current portion of long-term debt	(71,036)		(65,977)
Long-term debt, less current portion	$	794,214	$	911,852

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480657/210-10-S50-9

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 12: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

+ Details

Leases (Tables)

6 Months Ended

Jun. 28, 2026

Leases [Abstract]

Schedule of Supplemental Balance Sheet Information Related to Leases

The Company included the following amounts related to operating and finance lease assets and liabilities within the Condensed Consolidated Balance Sheets:


		As of
		June 28, 2026		December 28, 2025
Assets	Classification
Operating lease	Operating lease right of use assets, net	$	350,029	$	395,523
Finance lease	Property and equipment, net	42,080		53,233
Total lease assets		$	392,109	$	448,756
Liabilities
Current
Operating lease	Current operating lease liabilities	$	46,951	$	51,213
Finance lease	Current portion of long-term debt	16,286		21,614
Noncurrent
Operating lease	Noncurrent operating lease liabilities	351,011		395,895
Finance lease	Long-term debt, less current portion	45,381		56,280
Total lease liabilities		$	459,629	$	525,002

Schedule of Lease Costs and Supplemental Cash Flow Information Related to Leases

Lease costs were as follows:


		Quarter Ended				Two Quarters Ended
		June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Lease cost	Classification
Operating lease cost	Selling, general and administrative expense	$	691	$	736	$	1,329	$	1,537
Operating lease cost	Operating expenses	19,457		22,988		41,547		45,101
Short-term lease cost	Operating expenses	303		1,562		777		2,745
Variable lease costs	Operating expenses	5,974		8,078		12,023		15,075
Sublease income	Royalties and other revenues	(906)		(92)		(985)		(176)
Finance lease cost:
Amortization of right of use assets	Depreciation and amortization expense	$	3,267	$	5,746	$	7,125	$	11,042
Interest on lease liabilities	Interest expense, net	962		1,524		2,067		2,988

Supplemental disclosures of cash flow information related to leases were as follows:


	Two Quarters Ended
	June 28, 2026		June 29, 2025
Other information
Cash paid for leases:
Operating cash flows for operating leases (1)	$	54,613	$	61,102
Operating cash flows for finance leases	2,089		2,981
Financing cash flows for finance leases	7,343		10,744
Right of use assets obtained in exchange for new lease liabilities:
Operating leases	$	32,899	$	34,018
Finance leases	4,097		24,812

Net Loss per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
Share-based Payment Arrangement, Option \| KKI
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of net loss per share	2.0	2.6	2.0	2.6

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Debt Instrument [Line Items]
Less: Debt issuance costs	$ (2,234)	$ (2,904)
Deferred financing obligations	1,024	0
Finance lease obligations	61,667	77,894
Total long-term debt	865,250	977,829
Less: Current portion of long-term debt	(71,036)	(65,977)
Long-term debt, less current portion	794,214	911,852
Credit Facility
Debt Instrument [Line Items]
Short-term lines of credit	12,892	2,514
Term Loan \| 2023 Facility
Debt Instrument [Line Items]
Long-term debt, gross	721,901	742,825
Credit Facility \| 2023 Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 70,000	$ 157,500

Revision of Financial Statements

6 Months Ended

Jun. 29, 2025

Accounting Changes and Error Corrections [Abstract]

Revision of Financial Statements

Revision of Previously Issued Financial Statements

During the preparation of the financial statements for the year ended December 28, 2025, the Company identified and corrected the classification and accounting treatment for the redeemable noncontrolling interests in W.K.S. Krispy Kreme and KK Canada AcquisitionCo Inc. (“KK Canada”) (the “redeemable noncontrolling interests”). The Company determined that the accounting for the redeemable noncontrolling interests for periods prior to the annual period ended December 28, 2025 was incorrect. Specifically, the redeemable noncontrolling interests had originally been classified as Noncontrolling interest within Shareholders’ equity in the financial statements included in the Company’s annual and quarterly reports filed prior to the fiscal year ended December 28, 2025. The Company determined that the redeemable noncontrolling interests should instead be accounted for as Mezzanine equity. In addition, the redeemable noncontrolling interests, which were recorded at fair value each annual and quarterly reporting period, with changes recorded in Net (loss)/income, should instead be recorded at the greater of (i) current redemption value or (ii) carrying amount each quarterly reporting period with changes to this amount being recorded in Additional paid-in capital.

Accordingly, the change in carrying value of the redeemable noncontrolling interest, which was originally included in the calculation of Net (loss)/income as well as the calculation of Net (loss)/income attributable to Krispy Kreme, Inc. for periods

prior to the annual period ended December 28, 2025, should instead be included only in the calculation of Net (loss)/income attributable to Krispy Kreme, Inc. as those captions are presented in the Consolidated Statement of Changes in Shareholders' Equity. In accordance with the guidance provided by the SEC’s Staff Accounting Bulletin 99, Materiality, and Staff Accounting Bulletin 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, the Company determined that the impact of adjustments relating to the corrections of this accounting error were not material to previously issued annual audited and unaudited consolidated financial statements. Accordingly, these adjustments are disclosed herein and will be disclosed prospectively. As a result of the aforementioned correction of accounting errors, the quarterly financial statements included herein have been revised as follows:


	Consolidated Statements of Changes in Shareholders’ Equity
	As Previously Reported		Adjustments		As Revised
Noncontrolling Interest
Balance at December 29, 2024	$	29,895	$	(27,297)	$	2,598
Net (loss)/income for the fiscal quarter ended March 30, 2025	(121)		(259)		(380)
Other comprehensive income for the quarter ended March 30, 2025 before reclassifications	73		(32)		41
Balance at March 30, 2025	$	29,847	$	(27,588)	$	2,259
Net (loss)/income for the fiscal quarter ended June 29, 2025	$	(5,858)	$	97	$	(5,761)
Other comprehensive income for the quarter ended June 29, 2025 before reclassifications	668		677		1,345
Balance at June 29, 2025	$	24,657	$	(26,814)	$	(2,157)


	Net Loss per Share
	Two Quarters Ended June 29, 2025
	As Previously Reported		Adjustments		As Revised
(in thousands, except per share amounts)
Net loss attributable to Krispy Kreme, Inc.	$	(468,544)	$	—	$	(468,544)
Accretion to redemption value of redeemable noncontrolling interest	—		(4,290)		(4,290)

Net loss attributable to common shareholders - Basic	$	(468,544)	$	(4,290)	$	(472,834)
Additional income attributed to noncontrolling interest due to subsidiary potential common shares	—		—		—
Net loss attributable to common shareholders - Diluted	$	(468,544)	$	(4,290)	$	(472,834)
Basic weighted average common shares outstanding	170,546		—		170,546
Dilutive effect of outstanding common stock options, RSUs, and PSUs	—		—		—
Diluted weighted average common shares outstanding	170,546		—		170,546
(Loss)/earnings per share attributable to common shareholders:
Basic	$	(2.75)	$	(0.02)	$	(2.77)
Diluted	$	(2.75)	$	(0.02)	$	(2.77)

Condensed Consolidated Statements of Changes in Shareholders’ Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Adjusted For Rounding	Adjustment For Redeemable Noncontrolling Interest	Common Stock	Additional Paid-in Capital	Shareholder Note Receivable	Foreign Currency Translation Adjustment	Unrealized (Loss)/Income on Cash Flow Hedges	Unrealized Loss on Employee Benefit Plans	Retained (Deficit)/Earnings	Noncontrolling Interest
Beginning balance (in shares) at Dec. 29, 2024				170,060
Beginning balance at Dec. 29, 2024	$ 1,137,135			$ 1,701	$ 1,466,508	$ (1,906)	$ (32,065)	$ 270	$ (333)	$ (299,638)	$ 2,598
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income			$ (33,566)							(33,284)	(282)
Other comprehensive income/(loss), before reclassifications	4,174						8,413	(4,280)			41
Reclassification from AOCI	(287)							(287)
Share-based compensation	2,603				2,603
Accretion to redemption value of KK Canada					(4,290)
Dividends declared on common stock and equivalents	(5,969)									(5,969)
Distribution to noncontrolling interest	(36)				(103)						(60)
Distribution to noncontrolling interest						127
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)				240
Issuance of common stock upon settlement of RSUs, net of shares withheld	(123)			$ 2	(125)
Other	(4)				0	(3)					(1)
Ending balance (in shares) at Mar. 30, 2025				170,300
Ending balance at Mar. 30, 2025	$ 1,099,637			$ 1,703	1,464,593	(1,782)	(23,652)	(4,297)	(333)	(338,891)	2,296
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)	$ 0.035
Beginning balance (in shares) at Dec. 29, 2024				170,060
Beginning balance at Dec. 29, 2024	$ 1,137,135			$ 1,701	1,466,508	(1,906)	(32,065)	270	(333)	(299,638)	2,598
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(474,523)
Accretion to redemption value of KK Canada	(4,290)
Ending balance (in shares) at Jun. 29, 2025				170,964
Ending balance at Jun. 29, 2025	687,183			$ 1,710	1,468,555	(1,785)	1,477	(6,159)	(333)	(774,164)	(2,118)
Beginning balance (in shares) at Mar. 30, 2025				170,300
Beginning balance at Mar. 30, 2025	1,099,637			$ 1,703	1,464,593	(1,782)	(23,652)	(4,297)	(333)	(338,891)	2,296
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(441,118)		$ (441,021)							(435,260)	(5,761)
Other comprehensive income/(loss), before reclassifications	24,948						25,129	(1,526)			1,345
Reclassification from AOCI	(336)							(336)
Share-based compensation	4,634				4,634
Dividends declared on common stock and equivalents	(13)									(13)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)				664
Issuance of common stock upon settlement of RSUs, net of shares withheld	(664)			$ 7	(671)
Other	(2)				(1)	(3)				0	2
Ending balance (in shares) at Jun. 29, 2025				170,964
Ending balance at Jun. 29, 2025	$ 687,183			$ 1,710	1,468,555	(1,785)	1,477	(6,159)	(333)	(774,164)	(2,118)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock and equivalents (in dollars per share)	$ 0.035
Beginning balance (in shares) at Dec. 28, 2025	171,555			171,555
Beginning balance at Dec. 28, 2025	$ 652,780	$ 652,779		$ 1,716	1,473,643	(1,791)	4,670	(6,290)	(439)	(821,387)	2,657
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(22,673)									(22,784)	111
Other comprehensive income/(loss), before reclassifications	3,699						(371)	4,070
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent											(213)
Reclassification from AOCI	2,328						2,831	(290)
Capital contribution from shareholders, net of loans issued	488				0	488
Share-based compensation	4,639				4,639
Purchase of shares by noncontrolling interest	(2,599)				(1,584)						(1,015)
Accretion to redemption value of KK Canada	(5,404)				(5,404)
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)				725
Issuance of common stock upon settlement of RSUs, net of shares withheld	(308)			$ 7	(315)
Other (in shares)				$ (2)
Other	314				(382)	(3)					(63)
Ending balance (in shares) at Mar. 29, 2026				172,280
Ending balance at Mar. 29, 2026	$ 633,263			$ 1,721	1,471,361	(1,306)	7,130	(2,510)	(439)	(844,171)	1,477
Beginning balance (in shares) at Dec. 28, 2025	171,555			171,555
Beginning balance at Dec. 28, 2025	$ 652,780	$ 652,779		$ 1,716	1,473,643	(1,791)	4,670	(6,290)	(439)	(821,387)	2,657
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(42,504)
Accretion to redemption value of KK Canada	$ (5,404)
Ending balance (in shares) at Jun. 28, 2026	172,744			172,744
Ending balance at Jun. 28, 2026	$ 619,779			$ 1,725	1,474,652	(1,139)	8,318	(580)	(439)	(864,482)	1,724
Beginning balance (in shares) at Mar. 29, 2026				172,280
Beginning balance at Mar. 29, 2026	633,263			$ 1,721	1,471,361	(1,306)	7,130	(2,510)	(439)	(844,171)	1,477
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(19,831)									(20,311)	480
Other comprehensive income/(loss), before reclassifications	3,462						1,188	2,283			(9)
Reclassification from AOCI	(353)							(353)
Capital contribution from shareholders, net of loans issued	167				0	167
Share-based compensation	3,287				3,287
Issuance of common stock upon settlement of RSUs, net of shares withheld (in shares)				464
Issuance of common stock upon settlement of RSUs, net of shares withheld	4			$ 4
Other	$ (220)				4						(224)
Ending balance (in shares) at Jun. 28, 2026	172,744			172,744
Ending balance at Jun. 28, 2026	$ 619,779			$ 1,725	$ 1,474,652	$ (1,139)	$ 8,318	$ (580)	$ (439)	$ (864,482)	$ 1,724

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Jun. 28, 2026	Dec. 28, 2025
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000	300,000
Common stock, shares issued (in shares)	172,744	171,555
Common stock, shares outstanding (in shares)	172,744	171,555

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480100/505-10-S45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478478/942-210-S50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(16)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

+ Details

Revenue Recognition - Remaining Performance Obligation (Details) $ in Thousands	Jun. 28, 2026 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 24,617
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-06-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 5,104
Expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-04
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 6,462
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 2,803
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1,911
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-12-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 1,030
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-12-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 7,307
Expected timing of satisfaction, period

Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2026

Jun. 29, 2025

Jun. 28, 2026

Jun. 29, 2025

Statement of Comprehensive Income [Abstract]

Net loss

$ (19,831)

$ (441,118)

$ (42,504)

$ (474,523)

Other comprehensive income/(loss), net of income taxes:

Foreign currency translation adjustment

1,179

25,797

3,426

34,283

Unrealized income/(loss) on cash flow hedges, net of income taxes (1)

^[1]

1,930

(1,862)

5,709

(6,429)

Total other comprehensive income

3,109

23,935

9,135

27,854

Comprehensive loss

(16,722)

(417,183)

(33,369)

(446,669)

Net income/(loss) attributable to noncontrolling interest

480

(5,858)

591

(5,979)

Foreign currency translation adjustment attributable to noncontrolling interest

(9)

668

(222)

741

Total comprehensive loss attributable to noncontrolling interest

471

(5,190)

369

(5,238)

Comprehensive loss attributable to Krispy Kreme, Inc.

$ (17,193)

$ (411,993)

$ (33,738)

$ (441,431)

[1]	Net of income tax (expense)/benefit of ($0.6 million) and ($1.9 million) for the quarter and two quarters ended June 28, 2026, respectively, and $0.6 million and $2.1 million for the quarter and two quarters ended June 29, 2025, respectively.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 28, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Segment Reporting

6 Months Ended

Jun. 28, 2026

Segment Reporting [Abstract]

Segment Reporting

The Company conducts business through the following three reportable segments:

•U.S.: Includes all Company-owned operations in the U.S., and W.K.S. Krispy Kreme through the date of deconsolidation;

•International: Includes Company-owned operations in the U.K., Ireland, Australia, New Zealand, Mexico, and Canada; as well as Japan through the date of disposition; and

•Market Development: Includes franchise operations across the globe, including Krispy Kreme Japan after March 2, 2026, W.K.S. Krispy Kreme after March 23, 2026, and also includes Company-owned operations in France through Krispy Kreme France after May 25, 2026.

Unallocated corporate costs are excluded from the Company’s measurement of segment performance. These costs include general corporate expenses.

Segment information is identified and prepared on the same basis that the CEO, the Company’s Chief Operating Decision Maker (“CODM”), evaluates financial results, allocates resources, and makes key operating decisions. The CODM allocates resources and assesses performance based on geography and line of business, which represents the Company’s operating segments.

The primary financial measures used by the CODM to evaluate the performance of its operating segments are net revenues and segment Adjusted EBITDA. Beginning in the first quarter of fiscal 2026, the Company updated its segment profitability measure from segment Adjusted EBIT to segment Adjusted EBITDA to align with how the CODM evaluates performance. For all of the segments, the CODM uses segment Adjusted EBITDA to monitor and evaluate operating performance and to provide a consistent benchmark for comparison across reporting periods. This measure is prepared on a non-GAAP basis and, as such, the expense captions underlying it are designated as “adjusted.” The adjustments made are explained in the footnotes to the table that follows, which presents the reconciliation of net loss to Adjusted EBITDA.

The following tables reconcile segment results to consolidated results reported in accordance with GAAP. The accounting policies used for internal management reporting at the operating segments are consistent with those described in Note 1, Description of Business and Summary of Significant Accounting Policies, to the Condensed Consolidated Financial Statements. The Company manages its assets on a total company basis and the CODM does not review asset information by segment when assessing performance or allocating resources. Consequently, the Company does not report total assets by reportable segment.

The reportable segment results are as follows:


	Quarter Ended				Two Quarters Ended
	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
U.S.(1)
Net revenues	$	172,680	$	230,099	$	394,230	$	466,643
Less:
Product and distribution costs, adjusted	42,924		56,756		96,272		114,586
Operating expenses, adjusted	96,662		139,224		216,486		274,746
Selling, general and administrative expense, adjusted	13,553		17,055		29,384		36,204
Marketing expenses, adjusted	5,437		7,408		11,844		14,242
Other segment items(2)	352		(275)		943		1,024

Total U.S. Adjusted EBITDA	$	13,752	$	9,931	$	39,301	$	25,841

International(1)
Net revenues	$	117,342	$	132,755	$	242,600	$	252,390
Less:
Product and distribution costs, adjusted	26,225		30,624		54,857		57,726
Operating expenses, adjusted	61,032		67,063		126,157		129,061
Selling, general and administrative expense, adjusted	12,359		13,056		26,652		25,777
Marketing expenses, adjusted	3,547		3,234		6,482		5,878
Other segment items(2)	(3)		557		(202)		830

Total International Adjusted EBITDA	$	14,182	$	18,221	$	28,654	$	33,118

Market Development(1)
Net revenues	$	40,973	$	16,913	$	61,199	$	35,918
Less:
Product and distribution costs, adjusted	16,824		5,109		23,168		10,657
Selling, general and administrative expense, adjusted	1,582		1,122		2,739		2,436
Other segment items(2)	3,181		1,734		4,272		2,830

Total Market Development Adjusted EBITDA	$	19,386	$	8,948	$	31,020	$	19,995




Total Reportable Segment
Total reportable segment net revenues	$	330,995	$	379,767	$	698,029	$	754,951
Total reportable segment Adjusted EBITDA	$	47,320	$	37,100	$	98,975	$	78,954

(1)Refer to Note 3, Acquisitions and Divestitures, for more information on the impact of refranchising.

The following table presents a reconciliation of net loss to Adjusted EBITDA:


	Quarter Ended				Two Quarters Ended
	June 28, 2026		June 29, 2025		June 28, 2026		June 29, 2025
Net loss	$	(19,831)	$	(441,118)	$	(42,504)	$	(474,523)
Interest expense, net	13,375		16,696		28,999		32,892
Income tax expense/(benefit)	(4,259)		(20,453)		(676)		(23,120)
Share-based compensation	3,287		4,634		7,926		7,237
Employer payroll taxes related to share-based compensation	55		91		72		257
Loss on divestiture of Insomnia Cookies	—		11,501		—		11,501
Goodwill impairment	—		355,958		—		355,958
Other non-operating income, net (1)	(261)		(1,177)		(420)		(1,570)

Strategic initiatives (2)	3,119		22,867		10,319		25,220
Acquisition and integration expenses (3)	2,002		(182)		2,002		(111)
New market penetration expenses (4)	—		245		—		320
Shop closure expenses, net (5)	2,657		35,723		2,689		35,995
Restructuring and severance expenses (6)	33		4,839		427		4,947


Gain on sale-leaseback	—		(6,749)		—		(6,749)
Gain on refranchising (7)	—		—		(8,885)		—
Other (8)	1,622		1,454		2,831		6,154
Amortization of acquisition related intangibles (9)	6,156		7,830		13,964		15,491
Unallocated corporate expenses(10)	20,225		19,399		40,472		39,723
Depreciation expense and amortization of right of use assets	19,140		25,542		41,759		49,332
Reportable segment adjusted EBITDA	$	47,320	$	37,100	$	98,975	$	78,954

(4)Consists of start-up costs associated with entry into new countries in which the Company’s brands had not previously operated, including Brazil and Spain.

(5)Includes lease termination costs, impairment charges, and loss on disposal of property, plant and equipment.

(7)Includes gains and losses on the deconsolidation of assets and liabilities associated with the refranchising of Krispy Kreme shops.

(9)Consists of amortization related to acquired intangible assets as reflected within depreciation and amortization in the Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Vendor Finance Programs

6 Months Ended

Jun. 28, 2026

Payables and Accruals [Abstract]

Vendor Finance Programs

The following table presents liabilities as of June 28, 2026 and December 28, 2025 related to vendor finance programs in which the Company participates as a buyer:


	June 28, 2026		December 28, 2025		Balance Sheet Location
Supply chain financing programs	$	11,047	$	12,517	Accounts payable
Structured payables programs	106,998		92,366		Structured payables
Total Liabilities	$	118,045	$	104,883

Supply Chain Financing (“SCF”) Programs

The Company has an agreement with a third-party administrator which allows participating vendors to track the Company’s payments, and if voluntarily elected by the vendor, to sell payment obligations from the Company to financial institutions as part of the SCF programs. When participating vendors elect to sell one or more of the Company’s payment obligations, the Company’s rights and obligations to settle the payables on their contractual due date are not impacted. The Company agrees on commercial terms with vendors for the goods and services procured, which are consistent with payment terms observed at other peer companies in the industry. The Company has historically prioritized negotiating longer payment terms with some of its largest vendors, and certain of these vendors have also elected to participate in the SCF programs. Payment terms and pricing negotiations are independent of, and not conditioned upon, a vendor’s participation in the SCF programs. The financial institutions do not provide the Company with incentives such as rebates or profit sharing under the SCF programs. As the terms are not impacted by the SCF programs, such obligations are classified as Accounts payable in the Condensed Consolidated Balance Sheets and the associated cash flows are included in operating activities in the Condensed Consolidated Statements of Cash Flows.

Structured Payables Programs

The Company utilizes various card products issued by financial institutions to facilitate purchases of goods and services. By using these products, the Company may receive differing levels of rebates based on timing of repayment. The payment obligations under these card products are classified as Structured payables in the Condensed Consolidated Balance Sheets and the associated cash flows are included in financing activities in the Condensed Consolidated Statements of Cash Flows.

Redeemable Noncontrolling Interests

6 Months Ended

Jun. 28, 2026

Noncontrolling Interest [Abstract]

Noncontrolling Interest Disclosure

Redeemable Noncontrolling Interests

Prior to the transactions described below, the Company maintained agreements with its joint venture partners that held noncontrolling interests in the Company’s consolidated subsidiaries W.K.S. Krispy Kreme and KK Canada, which included contractual put options. The put options, held by the noncontrolling joint venture partners, provided the right for each such partner to sell its remaining interest in W.K.S. Krispy Kreme and KK Canada to the Company based on a predetermined formula. The put options became exercisable upon the passage of time.

The noncontrolling interests were considered redeemable due to the existence of the put options as (i) the noncontrolling joint venture partners could put their shares of W.K.S. Krispy Kreme and KK Canada to the Company, (ii) the put was outside the Company’s control; and (iii) it was probable of becoming redeemable solely based on the passage of time. The put options cannot be separated from the noncontrolling interest and did not require bifurcation from the noncontrolling interest under the guidance in ASC 815.

The noncontrolling interest was classified as redeemable noncontrolling interest within Mezzanine equity on the Condensed Consolidated Balance Sheets. When redeemable noncontrolling interest becomes redeemable, or it is probable of becoming redeemable, its value is adjusted to the greater of the current redemption value or carrying value. The redemption value is remeasured on a quarterly basis based on the predetermined formula set forth in the Company’s agreements with the joint venture partners.

On March 23, 2026, the Company completed a refranchising transaction that resulted in, among other things, a decrease in ownership interest in W.K.S. Krispy Kreme to 20%. As a result of the WKS Refranchising, described in Note 3, Acquisitions and Divestitures, the Company no longer has an interest classified as a redeemable noncontrolling interest in W.K.S. Krispy Kreme as of that date.

On February 25, 2026, the Company’s joint venture partners in KK Canada notified the Company of their election to exercise their rights to require the Company to redeem all interests held by such noncontrolling interest holders, which required the Company to purchase the additional 43.48% equity interest in KK Canada. The purchase, which was completed in the second quarter of 2026, increased the Company’s ownership from 56.52% to 100%. As a result of the exercise, the Company reclassified its redeemable noncontrolling interest to a liability, which is reflected in Accrued Liabilities in the Condensed Consolidated Balance Sheet as of March 29, 2026. The purchase price of approximately $25 million for the additional equity interest in KK Canada was paid during the second quarter of 2026.

Changes in the redeemable noncontrolling interests are as follows:


	Two Quarters Ended
	June 28, 2026
Balance at December 28, 2025	$	24,181
Disposal upon refranchising of W.K.S. Krispy Kreme	(4,150)
Accretion to redemption value of KK Canada	5,404
Reclassifications	(25,435)
Balance at June 28, 2026	$	—

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Current assets:
Cash and cash equivalents	$ 21,825	$ 42,390
Restricted cash	317	501
Accounts receivable, net	77,411	61,611
Inventories	28,666	26,877
Taxes receivable	14,161	10,854
Current assets held for sale	2,273	13,294
Prepaid expense and other current assets	20,766	18,927
Total current assets	165,419	174,454
Property and equipment, net	375,652	460,935
Goodwill, net	669,745	712,264
Other intangible assets, net	727,725	797,749
Operating lease right of use assets, net	350,029	395,523
Investments in unconsolidated entities	21,947	7,413
Noncurrent assets held for sale	0	31,056
Other assets	52,806	13,565
Total assets	2,363,323	2,592,959
Current liabilities:
Current portion of long-term debt	71,036	65,977
Current operating lease liabilities	46,951	51,213
Accounts payable	148,502	134,384
Accrued liabilities	91,634	99,805
Current liabilities held for sale	0	13,535
Structured payables	106,998	92,366
Total current liabilities	465,121	457,280
Long-term debt, less current portion	794,214	911,852
Noncurrent operating lease liabilities	351,011	395,895
Deferred income taxes, net	93,802	96,236
Noncurrent liabilities held for sale	0	11,816
Other long-term obligations and deferred credits	39,396	42,919
Total liabilities	1,743,544	1,915,998
Commitments and contingencies
Redeemable noncontrolling interest	0	24,181
Total mezzanine equity	0	24,181
Shareholders’ equity:
Common stock, $0.01 par value; 300,000 shares authorized as of both June 28, 2026 and December 28, 2025; 172,744 and 171,555 shares issued and outstanding as of June 28, 2026 and December 28, 2025, respectively	1,725	1,716
Additional paid-in capital	1,474,652	1,473,644
Shareholder note receivable	(1,139)	(1,791)
Accumulated other comprehensive income/(loss), net of income tax	7,299	(2,059)
Retained deficit	(864,482)	(821,387)
Total shareholders’ equity attributable to Krispy Kreme, Inc.	618,055	650,123
Noncontrolling interest	1,724	2,657
Total shareholders’ equity	619,779	652,780
Total liabilities, mezzanine equity, and shareholders’ equity	$ 2,363,323	$ 2,592,959

Redeemable Noncontrolling Interests - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 27, 2026	Jun. 28, 2026	Mar. 23, 2026	Mar. 22, 2026	Feb. 25, 2026
KK Canada
Redeemable Noncontrolling Interest [Line Items]
Additional equity interest purchased					43.48%
Prior ownership interest					56.52%
Ownership interest after purchase of additional interest					100.00%
KK Canada \| Forecast
Redeemable Noncontrolling Interest [Line Items]
Payments to acquire interest	$ 25.0
W.K.S. Krispy Kreme
Redeemable Noncontrolling Interest [Line Items]
Ownership percentage		20.00%
W.K.S. Krispy Kreme \| Krispy Kreme Doughnut Corporation
Redeemable Noncontrolling Interest [Line Items]
Ownership percentage			20.00%	55.00%

Goodwill and Other Intangible Assets, net (Tables)

6 Months Ended

Jun. 28, 2026

Intangible Asset, Goodwill and Other [Abstract]

Schedule of Goodwill by Reportable Segment

Changes in the carrying amount of goodwill by reportable segment are as follows:


	U.S.		International		Market Development		Total
Balance as of December 28, 2025	$	382,106	$	218,379	$	111,779	$	712,264

Impact of refranchising (1)	(42,174)		—		—		(42,174)


Foreign currency impact	—		(345)		—		(345)
Balance as of June 28, 2026	$	339,932	$	218,034	$	111,779	$	669,745

(1)Refer to Note 3, Acquisitions and Divestitures, for more information on the impact of refranchising.

Intangible Asset, Indefinite-Lived

Other intangible assets consist of the following:


	June 28, 2026						December 28, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
Intangible assets with indefinite lives
Trade names and trademarks	$	553,400	$	—	$	553,400	$	553,400	$	—	$	553,400
Intangible assets with definite lives
Franchise agreements	27,154		(13,021)		14,133		27,154		(12,363)		14,791
Customer relationships	15,000		(8,574)		6,426		15,000		(8,142)		6,858
Reacquired franchise rights (1)(2)	318,745		(164,979)		153,766		420,262		(197,562)		222,700

Total intangible assets with definite lives	360,899		(186,574)		174,325		462,416		(218,067)		244,349
Total intangible assets	$	914,299	$	(186,574)	$	727,725	$	1,015,816	$	(218,067)	$	797,749

Intangible Asset, Finite-Lived

Other intangible assets consist of the following:


	June 28, 2026						December 28, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
Intangible assets with indefinite lives
Trade names and trademarks	$	553,400	$	—	$	553,400	$	553,400	$	—	$	553,400
Intangible assets with definite lives
Franchise agreements	27,154		(13,021)		14,133		27,154		(12,363)		14,791
Customer relationships	15,000		(8,574)		6,426		15,000		(8,142)		6,858
Reacquired franchise rights (1)(2)	318,745		(164,979)		153,766		420,262		(197,562)		222,700

Total intangible assets with definite lives	360,899		(186,574)		174,325		462,416		(218,067)		244,349
Total intangible assets	$	914,299	$	(186,574)	$	727,725	$	1,015,816	$	(218,067)	$	797,749

- Definition

Tabular disclosure of goodwill.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Section 50
-Paragraph 1
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (f)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Revenue Recognition - Summary of Contract Balances with Customers (Details) - USD ($) $ in Thousands	Jun. 28, 2026	Dec. 28, 2025
Revenue from Contract with Customer [Abstract]
Trade receivables, net of allowances of $1,354 and $976, respectively	$ 74,940	$ 55,736
Trade receivables, allowance for credit loss	1,354	976
Deferred revenue:
Current	14,780	16,668
Noncurrent	9,837	9,780
Total deferred revenue	$ 24,617	$ 26,448

Derivative Instruments - Additional Information (Details) $ in Thousands, gal in Millions	3 Months Ended
	Jun. 28, 2026 USD ($) gal	Mar. 29, 2026 gal	Dec. 28, 2025 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value			$ 100
Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative asset, fair value	$ 120		33
Derivative liability, fair value	199		12
Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value	$ 774		8,386
Commodity derivatives \| Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount (in gallons) \| gal	0.7	0.6
Derivative asset, fair value	$ 200
Interest rate derivatives \| Derivatives Designated as Hedging Instruments \| Interest rate derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	550,000		550,000
Interest rate derivatives \| Derivatives Designated as Hedging Instruments \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative liability, fair value	(800)		8,400
Foreign currency derivatives \| Derivatives Not Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	76,400		65,600
Derivative liability, fair value	$ 100		$ 100

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2026	Dec. 28, 2025
Loss Contingencies [Line Items]
Loss contingency, damages paid, value	$ 1.6
Motion by parties in litigation, notice period	30 days
Letters of credit outstanding	$ 23.7	$ 24.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 450
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 460
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-URI https://asc.fasb.org/1943274/2147482425/460-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

Income Taxes	6 Months Ended
Income Taxes	Jun. 28, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim tax reporting, the Company estimates a worldwide annual effective tax rate and applies that rate to the year-to-date ordinary (loss)/income. The tax effects of significant unusual or infrequently occurring items are excluded from the estimated annual effective tax rate calculation and recognized in the interim period in which they occur. The Company establishes valuation allowances for deferred income tax assets in accordance with GAAP, which provides that such valuation allowances shall be established unless realization of the income tax benefits is more likely than not. Due to significant estimates used to establish the valuation allowances and the potential for changes in facts and circumstances, it is possible that the Company will be required to record adjustments to the valuation allowances in future reporting periods that could have a material effect on its results of operations. The Company’s effective income tax rates were 17.7% and 1.6% for the quarter and two quarters ended June 28, 2026, respectively, and 4.4% and 4.6% for the quarter and two quarters ended June 29, 2025, respectively. The Company’s effective income tax rate for the quarter and two quarters ended June 28, 2026 differed from the respective statutory rates primarily due to the tax effects of the mix of income and taxes attributable to foreign jurisdictions, and the refranchising of W.K.S. Krispy Kreme and Krispy Kreme Japan. The Company’s effective income tax rate for the quarter ended June 29, 2025 differed from the statutory rate primarily due to the tax effects of goodwill impairment charges, the mix of income and taxes attributable to foreign jurisdictions, disallowed executive compensation expense, and the sale of the Company’s investment in Insomnia Cookies.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share-based Compensation - Schedule of RSU Activity (Details) shares in Thousands	6 Months Ended
	Jun. 28, 2026 $ / shares shares
Restricted Stock Units (RSUs) \| KK Australia
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	21
Granted (in shares) \| shares	0
Vested (in shares) \| shares	18
Forfeited (in shares) \| shares	3
Ending balance, non-vested shares outstanding (in shares) \| shares	0
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 1,720
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	1,720
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	1,720
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 0
Restricted Stock Units (RSUs) \| KK Mexico
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	1
Granted (in shares) \| shares	0
Vested (in shares) \| shares	1
Forfeited (in shares) \| shares	0
Ending balance, non-vested shares outstanding (in shares) \| shares	0
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 40,140
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	0
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	40,140
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	0
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 0
Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) \| KKI
RSUs and PSUs
Beginning balance, non-vested shares outstanding (in shares) \| shares	10,669
Granted (in shares) \| shares	3,620
Vested (in shares) \| shares	1,320
Forfeited (in shares) \| shares	1,039
Ending balance, non-vested shares outstanding (in shares) \| shares	11,930
Weighted Average Grant Date Fair Value
Beginning balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 5,970
Granted, weighted average grant date fair value (in USD per share) \| $ / shares	3,900
Vested, weighted average grant date fair value (in USD per share) \| $ / shares	9,730
Forfeited, weighted average grant date fair value (in USD per share) \| $ / shares	6,010.00
Ending balance, non-vested shares outstanding (in USD per share) \| $ / shares	$ 5,160