Dunkin' Brands Invests $60 Million In High-Volume Brewers, Stops Selling At 450 Speedway Sites
Dunkin' Brands Group, Inc., the parent company of Dunkin' and Baskin-Robbins, is investing $60 million in high-volume brewers for its restaurants in 2020, among other moves, CEO Dave Hoffmann said in Thursday's investors conference call reporting results for the fourth quarter and fiscal year 2019.
"We had a strong finish to the year, led by Dunkin' U.S. comparable store sales growth of 2.8 percent in the fourth quarter, the highest quarterly comparable sales growth in six years, fueled by espresso and cold brew sales, coupled with the successful launch of the Beyond Sausage® Sandwich, and sustained performance of our national value platforms," Hoffmann said in a news release announcing the results. "Better quality food and beverage enabled by better equipment is a cornerstone of the Dunkin' Blueprint for Growth, which is the reason we are investing $60 million in high-volume brewers for our franchisees' restaurants in 2020 as part of our commitment to beverage leadership."
After opening more than 500 new and remodeled NextGen restaurants in 2019, Dunkin' Brands will be exiting 450 Dunkin' Speedway owned and operated locations in 2020, Dunkin' Brands Chief Financial Officer Kate Jaspon said in the release. The Dunkin' Speedway locations, which offered a limited menu, had made less than .5 percent of Dunkin' U.S. annual sales, she noted.
Dunkin' also announced Feb. 6 with Shell in a press release that the two have expanded their Fuel Rewards® partnership, “Sip Dunkin’, Save at Shell." Fuel Rewards® members with Gold Status and DD Perks® Rewards Program members save 10 cents per gallon every time they purchase five beverages at a Dunkin’ location, in a promotion that is planned to run through the end of 2020, the release stated.
