North-side Krispy Kreme closes

The neon-red "Hot Now" sign adorning Krispy Kreme Doughnuts' north-side store has permanently flickered out.

The eatery, 720 N. Glenstone Ave., shut its doors at the close of business Jan. 27, according to Brian Little, a spokesman for Winston-Salem, N.C.-based Krispy Kreme Doughnuts Inc. (NYSE: KKD).

The restaurant, which opened in 2004, hasn't performed up to expectations, Little said via email. He could not be reached for further comment.

Little said the company-owned store closed as part of Krispy Kreme's "growth strategy and continuing efforts to streamline our U.S. operations."

The south-side Springfield store, 3860 S. Campbell Ave., remains open.

With construction costs running at about $1.5 million, the 3,100-square-foot corporate store on Glenstone Avenue opened June 15, 2004, according to Springfield Business Journal archives.

According to the Greene County assessor's website, the Krispy Kreme-owned North Glenstone building and land - roughly 0.9 acres - has an appraised value of $690,000.

Krispy Kreme Doughnuts Inc. reported earnings of $5 million for its third quarter ending Oct. 28, compared to $4.7 million in the same quarter of 2011. Its current fiscal year ends Feb. 3. For the fiscal year ending Jan. 29, 2012, the company recorded profits of $22.2 million, up from $7.5 million for the year ending June 30, 2011, according to financial reports posted on the company's website.

Krispy Kreme's shares were trading at $12.93 as of 9:34 a.m., compared to a 52-week range of $5.86 to $13.12. According to Investopedia.com, Krispy Kreme stock was trading in 2003 at roughly $50 a share.