Dunkin' Brands targets FY14 U.S. comp store sales growth of 3%-4% Targets FY14 annual Baskin-Robbins comp store sales growth of 1%-3%; Expects 2014 net income from joint ventures to be approximately 17% and expects 2014 effective tax rate to be approximately 37%. The company intends to support marketing initiatives on an International level mainly through social medial building. The company sees loyalty as the real catalyst for growth in sales and usage of the Dunkin' card. Established and emerging markets will remain the majority of its development in 2014. Comments taken from Q4 earnings conference call.
Dunkin' Brands downgraded to Hold from Buy at Jefferies Jefferies downgraded Dunkin' Brands to Neutral citing a lack of near-term catalysts and "fierce" competition in the quick-service breakfast segment. The firm thinks FY14 same-store-sales and earnings could be at the low end of guidance and lowered its price target for shares to $47.