7:46 a.m. Oct. 29, 2020
- By Ciara Linnane
Coronavirus update: U.S. continues to set new case records as Trump remains insistent that U.S. has ‘rounded the corner’ New COVID-19 cases are rising in 47 states, and 27 states recorded 1,000 or more new diagnoses in the last 24 hoursThe U.S. death toll from the coronavirus illness COVID-19 edged closer to 228,000 on Thursday and more than 81,000 new infections were recorded in a single day, pushing the seven-day tally to record highs.
6:51 a.m. Oct. 29, 2020
- By Ciara Linnane
Dunkin Brands tops earnings estimates as same-store sales rise 0.9%Dunkin Brands Group Inc. posted third-quarter earnings that topped estimates as it achieved positive same-store sales during the pandemic. The company had net income of $74.0 million, or 89 cents a share, in the quarter, up from $72.4 million, or 86 cents a share, in the year-earlier period. Adjusted per-share earnings came to 93 cents, ahead of the 80 cents FactSet consensus. Revenue rose to $361.5 million from $355.9 million, also ahead of the $345.0 million FactSet consensus. U.S. same-store sales rose 0.9%, while the FactSet consensus was for a decline of 3.8%. The company ended the quarter with $341 million of unrestricted cash in the U.S., excluding cash reserved for gift cards and advertising funds. "In response to changing consumer patterns, we moved quickly to adapt our menu, introducing new beverages and snacking items designed to appeal to both morning and afternoon traffic, as well as younger consumers," Chief Executive Dave Hoffman said in a statement. "We also doubled down on digital, leveraging the strength of our assets to give customers an even faster, frictionless experience." Same-store sales rose as average ticket increased and offset a drop in traffic caused by the pandemic. The company said it has held preliminary talks with Inspire Brands and is deferring its fourth-quarter cash dividend. Shares were not active premarket, but have gained 33% in the year to date, while the S&P 500 has gained 1.3%.
7:56 a.m. June 26, 2020
- Associated Press
California data privacy law qualifies for November ballot Ballot measures are often among the most expensive and high-profile issues before California voters each election year and tens of millions of dollars are likely to be spent on each of the major initiativesCalifornia voters will weigh in this November on whether to expand a landmark data privacy law, alter a decades-old law that limits property taxes on businesses and exempt ride-hail giants Uber and Lyft from a new state labor law.
5:07 a.m. May 2, 2020
- By Tonya Garcia
Dunkin’, Starbucks, Chipotle and other restaurant chains have seen business shift to different times of day due to coronavirus Same-store sales dropped by 35% at the end of March and into early AprilDunkin’, Domino’s and Chipotle are among the restaurant chains that have seen consumer purchasing behavior change due to COVID-19-related lockdowns.