tgfgfh ghgj yhyh ghhFor all its exposure, Krispy Kreme accounts for less than 2 percent of Southern California doughnut shops. Yes, fans will drive out of their way to reach the nearest store, yet many consumers choose convenience and buy doughnuts from nearby vendors. In any case, "I don't think we're in competition with the mom-andpop shops because they're serving other things than doughnuts," such as pastries and various drinks, Reinis said. Krispy Kreme, he said, focuses on selling doughnuts by the dozen, for about $5.99. The main customers are the "office heroes, soccer moms and church socials" buying Krispy Kremes by the box, he said. Although the chain doesn't advertise, it does promote like heck. It routinely gives away doughnuts in marketing drives, peddles them in supermarkets such as Albertson's to create brand awareness and operates Krispy Kreme stands at Dodger Stadium. Now the company is aiming to develop smaller stores in cities such as San Francisco and New York, where real estate is at a premium. That will keep Livengood's healthy fear alive. But, "to my absolute delight, it seems like every time we've moved into a new region, things have gone better than ever," he said. Will that hold true in say, Tokyo or London? "My instincts are it will continue," he said. "We know the buzz has already begun." Finally, some retailing industry analysts are concerned: Wall Street has been little satisfied with the retailing industry's current return in recent years, instead choosing to reward the kind of capital appreciation promised by growth companies. The pressure to deliver double-digit earnings growth has caused many retailers to fall into the trap of opening more and more stores. Retail critics charge that CEOs have gotten caught up in the earnings guidance game and have pushed the envelope too far when it comes to adding square footage in an