After beating expectations for third-quarter earnings and raising guidance, Dunkin Brands CEO Nigel Travis said growth is just beginning as it plans to open as many as 720 new stores across the globe this year.
"The thing that really pleased me in the quarter is the fact that we really started to put the foot down on the accelerator on development," the Dunkin Brands executive said. "The more stores we get open, the more profits we'll have in the future."
Dunkin now forecasts that it will open 280 to 300 new Dunkin Donuts locations in the U.S. in 2012, up from an earlier forecast of 260 to 280. Globally, it plans to open 610 to 720 new Dunkin Donuts and Baskin Robbins stores.