Connect with us

Hi, what are you looking for?

News

Dunkin’ to Shut Down 800 US Stores


About 8% of Dunkin’ locations will be permanently closed

The popular coffee and doughnuts fast food chain, Dunkin’ (previously Dunkin’ Donuts), has revealed its plan to shut down about 8% of its retail locations, which amounts to roughly 800 stores. Among these closures, 450 stores will be in Speedways, a chain of gas stations and convenience stores in collaboration with Dunkin’. Additionally, there is a possibility that over 350 Dunkin’ stores outside of the US might face closure, but this decision has not been finalized yet.

Alongside these closures, Dunkin’ reported an 18.7% decrease in its in-store sales during the previous fiscal quarter, although towards the end of last week, the losses were mitigated and were only in single digits. This decline in sales is primarily attributed to the reluctance of customers to visit Dunkin’ outlets in person due to the continuous surge of the pandemic in the United States. Another contributing factor is the rise in adults working from home, leading to a decline in visits to Dunkin’ locations near office buildings. However, there was a partial offset in losses from bulk orders by certain customers who opted for larger food quantities and higher-priced items from the menu.

Dunkin’ joins the ranks of various fast-food chains facing business challenges due to the pandemic. Companies like McDonald’s and Starbucks have also had to close down underperforming stores, resulting in an estimated total of 1,500 closures across all impacted chains since the pandemic took a toll on the US starting from March.

You May Also Like

News

Peloton, known for their stationary exercise bikes and treadmills, has faced significant financial challenges over the past year. The company experienced a surge in...

News

Amid the ongoing global supply chain challenges, many retailers in the United States are grappling with surplus seasonal stock, leading to increased storage costs...

News

With the continuous increase in gas prices, a decrease in consumer confidence, and the ongoing conflict in Ukraine, the European economy faces significant challenges....

News

As the demand for electric vehicles grows and the push for environmental sustainability increases, automakers are gearing up to focus more on the development...

News

Today, Brian Armstrong, the CEO of Coinbase, conveyed to his team through a company-wide email that due to declining stock and crypto values and...

News

Recently, Peiter “Mudge” Zatko, a former cybersecurity specialist at Twitter, published a whistleblowing document on the platform. Zatko highlighted several security issues with Twitter,...

News

Zelle is a popular peer-to-peer payment service that allows individuals to send and receive money, similar to apps like Venmo. It is widely used,...

News

Recently, after Chinese President Xi Jinping secured a third term, there was a sharp decline in the stock market in Hong Kong. Investors became...