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Dunkin Brands CEO: 'Millennials Like Our Products'

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Dunkin Brands Group Inc (NASDAQ: DNKN) came out with its fourth-quarter and fiscal year 2014 results on Thursday. The company reported an EPS (diluted adjusted) of $0.46, compared to $0.43 that it reported in the same quarter last year.

Dunkin' Brands chairman and CEO Nigel Travis was on CNBC after the result declaration to talk about the popularity of the brand among millenials and discontinuing items from the menu.

Related Link: UPDATE: Dunkin Brands Q4 Profit Misses Expectations

Do You Feel You Are Losing Millennials?

“No, we don’t actually feel we are losing millennials at all,” Travis said. “We actually feel that we are becoming more attractive.”

“I think a good illustration of that is the fact that on the digital side of our business, we reported stellar [...] numbers for our Dunkin Perks program, 2.5 million, which was our goal. We actually slightly beat it. We also had 11 million downloads. We know the millennial like our products.”

What's Attractive To Millennials?

He continued, “They like how fast -- the speed of our business. They like the fact that they can come to Dunkin and also sit down with our Wi-Fi.”

“All the research shows that we are actually gaining in that area, and I think one of the things that’s going to happen this year -- we also announced earlier this week a program where we are going to bring in blenders in mid-year.”

He explained, “We think that it’s going to be very attractive for millennials with our new smoothies and our new Coolatta Lite.”

Aren’t You Worried About Bloating Your Menu The Way McDonald's Did?

“The answer is that we have actually taken many items off that menu. We took 14 in the last year off our menu. We continue to work with our franchises to be pretty brutal in how we cut it.”

Travis concluded, “It’s a concern of our franchisees; we are tackling it very aggressively.”

 

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