The Salvation Army created the holiday, which is always celebrated on the first Friday in June, in 1917 to boost the morale of troops fighting in WWI. According to holidayinsights.com, those doughnuts were fried in oil inside an American soldier's metal helmet.

Dunkin' Donuts and Krispy Kreme outlets both are commemorating the holiday by giving out free doughnuts.
You buy a drink, you get your freebee at Dunkin' Donuts.
At Krispy Kreme there are no strings attached.
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