Dunkin' Donuts will close down 100 stores across the country, Dunkin' Brands announced Thursday alongside its report on a third quarter sales slowdown.
According to CNN
, all of the stores that will be shuttered are owned by the Speedway gas station and convenience store chain.
Grant Benson, vice president of global franchising and business development for the parent company that owns both Dunkin' Donuts and Baskin-Robbins, said the stores were not being closed due to poor performance. The stores represent 0.1 percent of Dunkin' Donuts U.S. sales
After closing the stores, Speedway will remain a franchisee.
Across the country, Dunkin' Donuts boasts roughly 8,200 locations. Combined, those locations make up about three quarters of the company's revenue, Reuters reported
During a presentation, Dunkin' Donuts cited the spike in egg prices as part of its recent woes, and reported that many franchisees are worried about minimum wage hikes set to kick in soon in some states. New York, for example, will phase in a $15 minimum wage in the next few years.
Breakfast has been a keen interest of fast-food restaurants in recent years, including McDonald's, Taco Bell, Starbucks, Tim Horton's, and Krispy Kreme.
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