Northern, WI  11/20/2012 (BasicsMedia) —  Holiday earings season abounds as we head into Thanksgiving and some farmiliar stocks released earnings overnight. 

Krispy Kreme (NYSE:KKD) – The doughnut store chain reported earnings of 12 cents a share, excluding one-time items on revenue of $107 million, beating estimates for 8 cents a share on revenue of $105 million. In addition, the firm handed in outlooks for current fiscal year and next year that surpassed Wall Street expectations, sending shares sharply higher in extended-hours trading.

President and Chief Executive Officer James H. Morgan commented:  “We commend the entire Krispy Kreme family for their accomplishments in the third quarter.  Their efforts enabled us to deliver extraordinary results, including healthy revenue gains, robust same store sales, and substantial growth in both adjusted net income and operating cash flow.  We have now generated positive same store sales for an impressive sixteen consecutive quarters.  Even more important, our Company Stores segment has emerged as a strong contributor to our overall profitability due to the solid foundation that has been laid over the past four years by our operations team and those who support them, as well as the outstanding effort of our marketing group.”

Morgan continued, “While we are pleased with our near-term achievements, our management focus is always centered on how best to position ourselves over the long term.  Our decision making process and capital deployment is designed to build on Krispy Kreme’s 75-year legacy so that we can create sustainable long-term value for our shareholders.  By executing on our strategies, we are confident that we can continue to successfully grow the Company while at the same time realizing our brand mission to touch and enhance lives through the joy that is Krispy Kreme.”

Morgan concluded, “Given our strong third quarter and year-to-date performance, we are pleased to be increasing our earnings outlook for fiscal 2013 and projecting continued double digit earnings growth for fiscal 2014.”

Urban Outfitters (NASDAQ:URBN)  The clothing retailer posted earnings of 40 cents a share, missing expectations by a penny a share, on revenue of $693 million, edging past estimates for $692 million. Shares tumbled in extended-hours trading.

Deckers Outdoor (NASDAQ:DECK) – Wedbush Securities initiated the footware manufacturer with an “outperform” rating.

JP Morgan (NYSE:JPM) – The banking giant announced that Marianne Lake, current CFO of the consumer and community banking business, will become CFO for the company and a member of its operating committee, effective early 2013. Lake will succeed Doug Braunstein. 

We have no position in any stock mentioned here.

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