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Friday, July 25, 2014 - 8:49am
CNN — U.S. sales for Dunkin' Donuts and Baskin-Robbins are not as sweet as expected.
Profits at American Dunkin' Donut shops rose 1.8% this past quarter. U.S. sales at Baskin-Robbins went up 4.2%. Analysts had predicted a higher sales growth.
Stock for Dunkin' brands group, the parent company of both, fell nearly 8% in premarket trading at the news. The company blames an "unseasonably cold, rainy start to the spring season" for sluggish U.S. sales.
Internationally, revenue fell for both the Dunkin' Donuts and Baskin-Robbins franchises.