Krispy Kreme's redesigned stores will include features such as digital menuboards and a mobile pickup area, and the brand is also branching into ice cream. Krispy Kreme plans 45 new locations by the end of next year.

Krispy Kreme Doughnuts and Hershey Co. have launched two doughnut flavors available now for a limited time. The Reese's Original Filled Chocolate Lovers Doughnut takes a chocolate glazed doughnut with a drizzle of peanut butter icing and fills it with Reese's Peanut Butter Kreme, while the other, the Reese's Original Filled Peanut Butter Lovers Doughnut, is filled with Chocolate Peanut Butter Kreme and glazed with Reese's peanut butter icing.

To become known for more than just doughnuts, Krispy Kreme is now offering branded ground coffee, bottled iced coffee and K-cups at retailers. In its shops, it will focus on selling beverages as companions to doughnuts.

Krispy Kreme Doughnuts is offering a limited-edition Lightly Glazed Doughnut at select locations. The new product, which will be available until March 23, is a lighter variation of Krispy Kreme's famous golden doughnut with a thinly coated signature glaze.

Stephen Cooper has faced a similar turnaround situation at Boston Chicken, which eventually would get sold to McDonald's Corp. Cooper believes the key to fixing Krispy Kreme Doughnuts is to streamline the number of stores and emphasize coffee as well as doughnuts.