Last winter's snowfall in the Northeast was bad enough that it could hurt more than regional chains, with Dunkin' Brands Group Inc. expecting its same-store sales down by 1 to 1.6 percentage points thanks to slower sales in major markets such as New York City and Boston, reported Reuters. The winter was expected to reduce growth of the U.S.'s overall GDP by 0.2 percentage points, according to Goldman Sachs.
While Dunkin' Donuts has 8,082 locations across the country they are concentrated in the Northeast, which is home to 4,030 stores. While consumers in such areas are usually well-equipped to deal with inclement weather, this year's snow forced road closures and slowed public transport even in Boston, keeping people from going out to purchase food.
Still, the company is expanding geographically, with plans for 1,000 restaurants in California in the long-term, up from its current 458 Baskin-Robbins and eight Dunkin' Donuts. The company also plans to open 1,400 stores in China over the next 20 years, with the first opening late this year.
It's certainly not over, but farmers and food producers may receive a few months' respite as tariffs in the Sino-U.S. trade war will not escalate for 90 days. Additionally, they can at least look forward to a new normal as the United States-Mexico-Canada Agreement (USMCA) moves forward to full ratification.read more
With a background in both daily and weekly publications, Bryan has worked as a journalist since freelancing for his hometown paper in high school. He has since written both in print and online for min, The Times of Trenton and North Jersey Media Group, holding positions from stringer to editor. With a background as a news reporter, he has learned to seek out the focus behind the story, digging for the most important information.
There are no comments, yet. Why don't you add one?
10 Mountainview Road
Upper Saddle River, NJ 07458
Food Institute reps are available to answer your questions
BECOME A MEMBER
For close to 90 years, The Food Institute has been the best "single source" for food industry executives, delivering actionable information daily via email updates, weekly through The Food Institute Report and via a comprehensive web research library. Our information gathering method is not just a "keyword search."