Dunkin' Brands posts tough Q1; on track for 800 openings worldwide in 2014

Canton, Mass. -- Dunkin’ Brands Group, parent to Dunkin' Donuts and Baskin-Robbins, said its banners were impacted by tough weather in the first quarter, with U.S. comparable store sales growth of just 1.2%. Net income for the quarter dipped 3.5% from $23.8 million to $23 million. Revenue rose 6.2%.

"We had a difficult first quarter with our comparable store sales growth in the U.S. significantly impacted by severe weather in the regions of the country where most of our Dunkin' Donuts restaurants are located. However, we remain confident that we will hit our targets for the full year," said Nigel Travis, chairman and CEO, Dunkin' Brands Group, Inc.

The company added 96 net new restaurants worldwide during the quarter, including 69 net new Dunkin' Donuts in the U.S., 52 net new Baskin-Robbins International locations, one net new Baskin-Robbins U.S. location, and 26 net closures for Dunkin' Donuts International.   

Additionally, Dunkin' Donuts U.S. franchisees remodeled 94 restaurants during the quarter.

For fiscal 2014, the company expects that Dunkin' Donuts U.S. will add between 380 and 410 net new restaurants representing greater than 5% net restaurant growth and expects Baskin-Robbins U.S. will add between 5 and 10 net new restaurants.

Internationally, the company is targeting opening 300 to 400 net new restaurants across the two brands.

Globally, the company expects to open between 685 and 800 net new units.

 

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