Dunkin' Donuts to close 100 stores

Posted at 6:37 AM, Oct 02, 2015
and last updated 2015-10-02 06:37:27-04

Shares of Dunkin' Brands are down 10 percent after the company said it expects sales to slow from the previous quarter at its doughnut shops.

Sales at Dunkin' Donut stores open at least a year are expected to grow 1.1 percent in the third quarter, well below the 2.9 percent growth reported in its last quarter.

Customer traffic slipped 0.7 percent in the third quarter. The company, which also owns Baskin-Robbins, kept its earnings and revenue outlook for the year unchanged.

It also says it plans to close 100 stores in Speedway gas station locations this year and next.

Shares of Dunkin Brands Group Inc., based in Canton, Massachusetts, fell $5.05 to $43.95 in Thursday trading. That's the lowest the shares have traded since early January.