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Dunkin Donuts Blames Low Revenue on Election Uncertainty

Image: Dunkin Donuts Blames Low Revenue on Election Uncertainty

The headquarters of Dunkin' Brands Group, Inc. is in Canton, Mass. (AP Photo/Kristoffer Tripplaar/Sipa)

By    |   Thursday, 20 Oct 2016 06:44 PM

Dunkin Donuts is blaming a hole in their projected earnings on the presidential election, Business Insider reported.

Same-store sales profits exceeded analysts' expectations, but revenue came up shorter than expected. Barclays analyst Jeff Bernstein was asked during an earnings call if there was a specific reason for the numbers.

Dunkin' Brands CEO Nigel Travis responded, mentioning "changes in gas prices, changes in food-stamp regulations, and, of course, the overwhelming dampening effect of the presidential election."

"I think we'll all be pleased when that's passed," he added.

No one explained why the election would cause customers to shy away from buying doughnuts and coffee at the restaurant, but Travis did note its number of new locations to be opened this year will be on the low side of its projection of 430-460 because franchises are worried about what their costs will be depending on who wins.

"I was with some franchisees in one state that I won't name," Travis said. "And I've said to them, look, you're going to open one store this year, why don't you open two? And their response was uncertainty, regulation, we don't know where the minimum wage is going. There was just so much uncertainty."

Democrat Hillary Clinton has said she will work to raise the minimum wage to $12 an hour. Republican Donald Trump wants to leave that determination to the states.

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Dunkin Donuts is blaming a hole in their projected earnings on the presidential election, Business Insider reported. Same-store sales profits exceeded analysts' expectations, but revenue came up shorter than expected.
dunkin, donuts, presidential, election, uncertainty
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2016-44-20
Thursday, 20 Oct 2016 06:44 PM
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