Dunkin' Brands Dives After Lowering Sales Guidance

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Dunkin' Brands Dives After Lowering Sales Guidance

Dunkin' Brands Dives After Lowering Sales Guidance
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Dunkin' Brands Dives After Lowering Sales Guidance

by TheStreet 0:42 mins

Dunkin' Brands shares are lower on Thursday after the company lowered sales guidance for the year. In its second quarter report, the Canton Mass.-based company warned full-year sales growth for its U.S. restaurants are likely to be lower than previously expected. The company also announced weak performance in its Baskin-Robbins international business, reporting a decrease in profit by 39.6% due to lower than expected income from its Japan joint venture. In the second quarter, Dunkin' said it earned 47 cents a share, in line with estimates. Revenue for the restaurant company came in at $190 million, that was below Wall Street expectations. TheStreet's Kathryn Mykleseth reports from New York.

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