Dunkin' Will Permanently Close 800 Stores In The U.S. This Year
Dunkin' announced this week that it expects to permanently close around 800 of its stores this year.
This number includes the 450 store closures inside of Speedway gas stations, which had previously been announced. Dunkin' made this most recent announcement in its second quarter earning results, and said that the decision would be made with the "goal of setting the U.S. system up for continued strong, profitable future growth." These planned closures would represent about eight percent of the Dunkin' U.S. total restaurant footprint.
It was not immediately clear when and where these closings would be, but the chain is just the most recent to announce closures, including McDonald's just this week. Dunkin' also said that its same-store sales dropped by 18.7 percent last quarter. The chain, like most others, has felt the heat of COVID-19 and social distancing requirements, but also said that sales have slowly been on the rise in recent weeks and have seen improvements as time has passed.
"For Dunkin' U.S., same store sales improved sequentially throughout the quarter, largely as a result of our ability to pivot quickly and introduce new menu items designed to appeal to customers who are now visiting us later in the day," said CEO of Dunkin' Brands Group, Inc. Dave Hoffmann in a release.
According to the report, around 96 percent of Dunkin's U.S. locations were open as of July 25, and the majority that remained closed were located in places like college campuses and transportation hubs.
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