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Dunkin' Brands shares jump as loyalty program hits milestone

Dunkin' Donuts
Ron Antonelli | Bloomberg | Getty Images

Shares of Dunkin' Brands rose nearly 2 percent on Monday after the company revealed that its loyalty program had reached a new milestone.

More than 5 million people have signed up for DD Perks, a program that rewards customers for purchases and allows them to order ahead and bypass the line.

"The number of DD Perks members has more than doubled in less than two years, which has surpassed all of our goals," Sherrill Kaplan, vice president of digital marketing and innovation for Dunkin' Donuts U.S., said in a statement.

Shares of Dunkin' Brands, which owns both Dunkin' Donuts and Baskin-Robbins, hit their highest level since April. The stock is down about 2.7 percent over the past year.

The company faced backlash from investors last month after both Dunkin' Donuts and Baskin-Robbins saw same-store sales growth fall well below analysts' expectations. A bump in loyalty program participation could give investors hope for the second half of 2016.

To celebrate the growth in loyalty memberships, Dunkin' Donuts has promised customers who participate in the DD Perks program 50 extra points during their next purchase. The offer is valid through Aug. 28.