Oct 25 (Reuters) - Dunkin’ Brands Group Inc reported lower-than-expected sales at U.S. established coffee stores as fewer customers visited its outlets in a highly competitive home market.
The company’s net income rose to $66.07 million, or 79 cents per share, in the third quarter ended Sept. 29, from $41.17 million, or 45 cents per share, a year earlier.
Comparable sales at established Dunkin’ outlets in the United States, the biggest source of company revenue, rose 1.3 percent, but missed the average analyst estimate of a 1.5 percent rise.
The owner of Dunkin’ Donuts coffee stores, which will call itself Dunkin’ from next year, said net sales rose 6 percent to $350.01 million. Analysts on average had expected sales of $342.95 million, according to Refinitiv data.
Reporting by Soundarya J in Bengaluru; Editing by Arun Koyyur