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Dunkin' Brands Dives After Lowering Sales Guidance

TheStreet

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.