Krispy Kreme gains as it announces Brazil franchise expansion

Krispy Kreme's DNUT.O stock up 1% to $5.55 as donut chain announced its official franchise launch in Brazil

"The Company will open its first shop through a minority interest joint venture with Ipiranga's AmPm in the busy Avenida Juscelino Kubitschek neighborhood in São Paulo in late April," Krispy Kreme said in a statement on Mon

DONUT's launch is via a "capital-light franchise strategy" with AmPm - which is the largest chain of convenience stores in Brazil, with about 1,500 stores nationwide

DNUT is down ~44% YTD vs ~11% drop in S&P 500 consumer discretionary index .SPLRCD