Weak coffee sales hurt Dunkin’ Donuts earnings

Written By Unknown on Jumat, 19 Desember 2014 | 18.38

Dunkin' Brands announced weaker-than-expected fourth-quarter sales and lowered its 2015 outlook yesterday, blaming declining sales of Dunkin' Donuts' packaged coffee and continued pressure on consumers.

Shares fell as much as 9.45 percent yesterday to $41.85 — the most since Dunkin' Brands' 2011 initial public offering — before closing at $43.05, down 6.86 percent.

"This has been a challenging year for our businesses," CEO Nigel Travis said in a statement. "While our earnings growth expectations for 2015 are below our longer-term targets, we are committed to returning to double-digit growth in the subsequent years."

Struggling joint-venture Dunkin' restaurants in Korea and Baskin-Robbins in Japan also remain under pressure and are forecast to negatively impact 2015 results, according to Travis.

"We are disappointed by the ongoing softness in Dunkin' U.S. (comparable-store sales), which was attributed to a tough environment — presumably being caused by heightened competition — and decelerating sales of packaged coffee — probably weakness in K-cups," Baird Equity Research analyst David Tarantino said in a research note yesterday.


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