Dunkin’ is closing 800 US locations

[CNN]

New York — Dunkin’ is permanently closing 8% of its United States locations, which amounts to roughly 800 restaurants.

The company announced the changes in its second quarter earnings, released Thursday. Dunkin’ described the closures as “real estate portfolio rationalization” and said the affected locations are in “low-volume sales locations” that only represent 2% of its US sales as of 2019.

More than half of the closures are in Speedway convenience stores, a change it previously announced in February. These locations are set to be closed by the end of this year.

Dunkin’ (DNKN) also said approximately 350 locations “may permanently close” outside of the US.

Earlier this week, McDonald’s (MCD) also said it was closing about 200 “low-volume” locations with more than half being in Walmart (WMT) stores.

By Jordan Valinsky