Donut giant Dunkin' to close down 800 US stores this year
Another 300 odd stores from its international network too will shutter
New York: Dunkin' Brands Group Inc. said it expects to close about 800 stores in the US permanently this year, as well as about 350 internationally.
The closures are part of a "real estate portfolio rationalization," and will mostly involve low-volume sales locations, Dunkin' said. The US locations represent about 8 per cent of Dunkin's total domestic restaurants, and accounted for about 2 per cent of US system-wide sales in 2019.
The move includes the previously announced closure of 450 sites in Speedway convenience stores. The company also reported adjusted earnings per share for the second quarter that beat the average analyst estimate and reinstated its regular quarterly cash dividend.