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Baskin-Robbins partly helped the company offset lackluster
performance at its U.S. donut stores, which account for nearly
three quarters of its total revenue.
Strong sales of ice creams and beverages, and higher online
orders for cakes helped Baskin-Robbins post a 7.5 percent rise
in U.S. comparable store sales in the quarter ended Sept. 26.
The company also boosted its expectations for the ice cream
chain's U.S. same-store sales to 3-5 percent for the year from
its previous forecast of 1-3 percent.
However, Chief Executive Nigel Travis said a 1.1 percent growth
in U.S. same-store sales at Dunkin' Donuts was disappointing.
Higher minimum wages and removal of some popular breakfast items
from the menu due to bird flu-induced egg shortage hurt
same-store sales at donut shops, Travis said at an investor
meeting this month.
Royalties and fees from franchisees rose 5.6 percent to $133.9
million, accounting for nearly two-thirds of the company's total
revenue.
Net income attributable to the company fell 15.5 percent to
$46.2 million, or 48 cents per share, in the third quarter.
Excluding items, the company earned 52 cents per share.
Revenue rose 9 percent to $209.8 million.
Analysts on average had expected earnings of 51 cents per share
on revenue of $204.1 million, according to Thomson Reuters
I/B/E/S.
Dunkin' shares were unchanged on Thursday in premarket trading.
They hit a 15-month low of $40.66 on Wednesday.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Anil
D'Silva)
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