Dunkin’ will close 800 doughnut shops by the end of the year, the company says

Doughnut giant Dunkin’ said it expects to close about 800 locations by the end of 2020, according to its second-quarter earnings report published Thursday.

The figure includes 450 Dunkin’ locations at Speedway convenience stores, which Dunkin’ announced earlier this summer.

Dunkin has not said which stores will be affected by the latest closures.

The 800 locations expected to close represent about 8% of Dunkin’s stores in the U.S. and accounted for 2% of the company’s U.S. sales in 2019, Dunkin’ said.

In its report, Dunkin’ said the closures will be in “low-volume sales locations” and due, in part, to “real estate portfolio rationalization” it hopes will set up the company for “continued strong, profitable future growth” in the U.S.

Internationally, the company said it expects to close 350 locations by the end of 2020.

Earlier this week, McDonald’s said it expects to close 200 of its 14,000 locations in the U.S. “Low-volume restaurants,” in Walmart stores are expected to account for half the closures, USA Today reported.

In June, Starbucks said it would close 400 company-owned stores in 18 months as it increases curbside pick-up and drive-thru options.

This story was originally published July 30, 2020 at 11:59 AM with the headline "Dunkin’ will close 800 doughnut shops by the end of the year, the company says."