Crumbs Bake Shop
|Traded as||NASDAQ: CRMB|
|Founder(s)||Mia & Jason Bauer|
|Headquarters||New York City, U.S.|
|Products||Cupcakes & Cakes|
|Revenue||$57 million (2013 revised projection)|
|Website||Crumbs Bake Shop|
Crumbs Bake Shop (aka Crumbs or Crumbs Bakery) is a bakery chain headquartered in New York City. Founded in 2003 as a small mom and pop style bakery on the Upper West Side of Manhattan by Mia & Jason Bauer, the company has since expanded to 67 stores across New York, Chicago, Washington DC, Virginia, Boston, New Jersey, Rhode Island and Los Angeles.
Crumbs cupcakes come in an assortment of sizes and fillings. Cupcake flavors are based on themes and take inspiration from other desserts such as the cookie dough, tiramisu, and caramel apple cupcakes. Cupcakes named after celebrities like Artie Lange, Gary Dell'Abate, and Elvis Presley are also on the menu. Cupcakes from Crumbs come in three main sizes; the mini "Taste" size, the "Classic" size (labeled as "supermarket size") and the "Signature" size, which are almost double the size of standard cupcakes at six ounces and four inches in height. The "Signature" size cupcakes cost $4.50 each. The bakery also makes a Colossal Cupcake for $42; it is about 6 and a half inches high and serves between 6 and 8 people.
Crumbs Bake Shop, a publicly traded business listed on NASDAQ, reached its peak stock price in 2011. A one-time loss of US $700,000 due to Hurricane Sandy in combination with steadily declining sales due to competition from locally owned mom-and-pop cupcake shops as well as increased competition from grocery stores, caused a sharp decline in the company's prospects and stock price in 2013. Crumbs borrowed $10 million through convertible promissory notes and announced plans to close some underperforming stores in 2013.
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