DNKN - Dunkin' Brands Reports Positive Second Quarter Results - Long-Term Bull Thesis Remains On Track
Investment Conclusion. In our opinion, F2Q2020 was an upbeat quarter for Dunkin' Brands (DNKN). Its Dunkin' business: posted reduced same store sales declines on a month to month basis; generated low double digit same store sales growth at its west coast restaurants; likely captured market share from competitors; paid back the variable rate loan it had secured in the first quarter; reinstated its dividend; and indicated plans to hire 25,000 employees. In addition, we believe the quarter represented a trough in the company's COVID-19 related decline in retail sales and expect additional improvement