Dunkin’ to close 800 US stores as pandemic hurts sales
CANTON, Mass. (AP) — Dunkin’ Brands Inc. expects to close up to 800 underperforming U.S. stores this year as it tries to shore up its portfolio in the wake of the coronavirus pandemic. Around 450 of those stores are located within Speedway gas stations. Dunkin’ says closing the restaurants would allow their franchisees to reinvest in newer stores in higher-traffic areas. The 800 stores represent 8% of Dunkin’s U.S. footprint but just 2% of its sales. Dunkin’ says international franchisees may also close 350 low-volume stores abroad by the end of this year. Dunkin’s sales dropped 20% in the second quarter to $287 million.