Dunkin’ Donuts Reports 2Q Results
Global system-wide sales increased approximately 6.9% over second quarter 2010.
Consolidated U.S. comparable store sales increased 3.2%. Dunkin' Donuts U.S. comparable store sales increased 3.8%, while Baskin-Robbins U.S. comparable store sales decreased 2.8%.
Dunkin' Brands' franchisees and licensees opened 140 net new Dunkin' Donuts and Baskin-Robbins locations on a global basis during the quarter, and 234 during the first six months of 2011, increasing Dunkin' Brands total points of distribution to 16,427 at the end of the second quarter.
Revenues increased by more than 4%, to $157.0 million for the second quarter of 2011, compared to $150.4 million for the same period in 2010. The company re-franchised 13 stores between the second quarter of 2010 and the second quarter of 2011. Excluding company-owned stores for both periods, revenues grew approximately 6%.
Operating income was $61.8 million, compared to $57.9 million for the second quarter of 2010, representing a 6.8% year-over-year increase. Operating income growth over the prior period was impacted by higher ice cream costs due to rising commodity prices.
Net income was $17.2 million compared to $17.3 million for the second quarter of 2010.
Adjusted net income for the quarter was $24.7 million compared to $25.6 million for the second quarter of 2010.
The global system-wide sales growth for the second quarter was primarily attributable to Dunkin' Donuts U.S. comparable store sales growth (which includes stores open 54 weeks or more), growth in Dunkin' Donuts and Baskin-Robbins international sales, and global store development.
From the August 3, 2011,Prepared Foods' Daily News.