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Published on Oct 20, 2016
Shareholders
are running from Dunkin' Brands . Shares of the Dunkin' Donuts and
Baskin-Robbins operator were lower Thursday after serving up mixed
quarterly results. The company posted earnings of earnings of $0.60 a
share, that's a 15% rise from the prior year and two cents better than
forecasts. But, sales of $207 million were below analysts' estimates.
Same-store sales rose 2% for the period, which beat estimates.
TheStreet's Brian Sozzi says that executives "dropped something of a
bombshell" on the conference call, saying that the company was going to
focus on beverages instead of marketing beverages and food, while also
looking to trim the menu to simplify operations. Sozzi says the move
will pit Dunkin' directly against Starbucks.
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