CANTON, Mass. (AP) — Will Americans run to Dunkin’ later in the day? The coffee and doughnut chain hopes so.
Dunkin’ Donuts said Tuesday that is working to increase sales after the morning rush, a strategy that coffee chain Starbucks recently said is was also pursuing.
The two companies see the afternoon hours as a way to boost sales. In the past, both have offered promotions in the later part of the day to bring more people in their doors.
Dunkin’ Brands executives said on a conference call that they’ll give more details about their plans during the company’s investor day event on Thursday.
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The owner of Dunkin’ Donuts and Baskin-Robbins reported better-than-expected results for the fourth quarter.
It had net income of $195.5 million, or $2.13 per share. Earnings, adjusted for one-time gains and costs, were 64 cents per share, beating analyst expectations of 63 cents per share, according to Zacks Investment Research.
The Canton, Massachusetts-based company reported revenue of $227.1 million, above the $223 million analysts expected.
For the year, the company earned $350.9 million, or $3.80 per share. Revenue was reported as $860.5 million.
Shares of Dunkin’ Brands Group Inc. slipped $1.18, or 1.9 percent, to $59.66 in trading Tuesday.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DNKN at https://www.zacks.com/ap/DNKN