Krispy Kreme announces Profits But...?

Krispy Kreme (KKD) did announce profits instead of losses in Q1. Primarily because last year was so abysmal that it was not hard to make this year look better. But what is management communicating. Overall revenues are down. They point this out well into the press release. The only growth is being experienced outside of the US of A. This is not a global demand story. Each store is influenced by local factors such as the desire for a cup of coffee and something insanely sweet and fat. The metrics look poor for Krispy Kreme even if stores have been closed and rationalized.