Dunkin’ Brands Will Close 100 ‘Underperforming’ Shops This Year
Dunkin’ Donuts’ parent company, Dunkin’ Brands Inc., announced plans to shutter 100 “underperforming” U.S. stores over the next year, but the ringed confection behemoth will likely still have a shop in every local neighborhood. The company said the closures will represent .1 percent of its national sales.
Dunks hasn’t announced which stores will be shut down. The Canton-based company, which also owns Baskin Robbins stores, has more than 4,000 restaurants in the Northeast, 8,200 in the U.S., and more than 19,000 storefronts around the world. During an investor presentation today, Dunks management said despite the forthcoming closures, there are actually plans to double the company’s U.S. presence. The brand has plans to grow to 17,000 units nationwide by 2020, mostly out west.
Shares of Dunkin’ Brands was trading down 10.6 percent at the end of the day yesterday, the Boston Business Journal noted. During the investor presentation, the company said they anticipate same-store sales growth of 1.1 percent this year.