—but at a time when America’s GDP dropped at nearly 33 percent due to the coronavirus pandemic, apparently, America doesn’t need as many Dunkin’s to keep running. Yesterday, the company announced plans to shutter as many as 800 locations in the United States.
During the company’s earnings call, Chief Financial Officer Kate Jaspon explained, “With the temporary closures that we had during the COVID crisis, we took the opportunity to accelerate our discussions with our franchisees” about possible permanent closures.
Dunkin’ is far from the only major chain that has taken this opportunity to re-evaluate its store portfolio. Earlier this week, McDonald’s announced plans to close about 200 U.S. locations—though, similar to Dunkin’, a good chunk of them won’t be standalone stores: Over half are McDonald’s located in Walmarts. And last month, Starbucks announced plansin the U.S.
But that’s just the tip of the iceberg: Other quick-service chains that have announced permanent closures during the pandemic include Pizza Hut, Steak ‘n Shake, and—also revealed this week—Pret A Manger. In Dunkin’s case, CEO and President Dave Hoffman described the shuttering locations as simply “low volume-driven, off-strategy” stores where the company was choosing “quality over quantity.” He explained, “In terms of a good scrubbing of the portfolio and being opportunistic during this time period, we felt like this was the right move.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dunkin’ Brands Expects to Close About 800 U.S. Stores This Year(Bloomberg) -- Dunkin’ Brands Group Inc. said it expects to close about 800 stores in the U.S. permanently this year, as well as about 350 internationally.The closures are part of a “real estate portfolio rationalization,” and will mostly involve low-volume sales locations, Dunkin’ said. The U.S. locations
Source: YahooNews - 🏆 380. / 59 Read more »
8 times Victoria Beckham and Nicola Peltz proved they already have a close bondVictoria Beckham and Nicola Peltz's relationship: See the close bond between the fashion designer and her son Brooklyn Beckham's fiancée. Lovely! 😘😘😘
Source: hellomag - 🏆 24. / 68 Read more »
Australia Streamer Stan Keeps Hollywood Close to Get the Right MixVariety partnered with U.K.-based consultancy Ampere Analysis to delve into the top local and regional ad-supported and pay TV services that are competing with behemoths like Netflix and Amazon. Fo… relic Soundtrack StanAustralia WHOmagazine SydConfidential EW DEADLINE THR relicmovie Noblebrother100 Asia frankpallotta ellabalinska enews Thisruptdotco cnni theage karlkwin AACTA ScreenAustralia IconFilms manori_r nytimes
Source: Variety - 🏆 108. / 63 Read more »
Reopening Schools Try to Decide When They Should Close Again Due to Coronavirus CasesSchool districts across the country trying to complete their reopening plans are struggling to figure out what to do if a coronavirus outbreak hits—and how bad it would have to be to cause them to shut schools down again. Our leaders are all bought by corporations and refuse to lead. The SCOTUS destroyed the country with citizens united. And such is creating vexing indecisiveness for many school districts nationwide
Source: WSJ - 🏆 98. / 63 Read more »
Florida to close virus test centers with storm loomingFlorida will close its coronavirus testing centers on Thursday, a day after the state reported a record 216 deaths from the disease, as authorities batten down for a looming storm. Tropical Storm Isaias is expected to hit the southern state by the end of the week, according to the National Hurricane
Source: YahooNews - 🏆 380. / 59 Read more »
Second Stimulus: White House Chief Of Staff Says Congress 'Nowhere Close To A Deal'“No deal certainly becomes a greater possibility the longer these negotiations take,” Mark Meadows said. AMERICA MOST DISGRACEFUL CHRISTIAN NATION on EARTH THE Richest and MOST Powerful Country on The Earth, HAS HIGHEST infection population, Highest Death and HIGHEST UNEMPLOYMENT Rate🙈 More 50% of Population is living under Poverty Live! SHAME on America 👎🏻👎🏻👎🏻! Well republicans want the money to go to corporations, democrats want the money to go to the people (and corporations). And meadows is a loon
Source: Forbes - 🏆 394. / 53 Read more »