Wall Street Runs On Dunkin Donuts: First Day Of Public Trading Looks Good
Just like their current advertising slogan - "American Runs On Dunkin Donuts" - the venerable coffee chain is also ruling things on Wall Street.
On its first day of trading Wednesday, the stock was up 40% at $26.78 from an opening price of $19.Just like their current slogan - "America Runs On Dunkin Donuts" - the venerable coffee chain had a banner first day of public trading.
Along with public offering on Wall Street, you just might see a new Dunkin Donuts on YOUR street soon!
Dunkin' plans on doubling its U.S. store count and making an ambitious move into emerging markets -- adding 500 stores a year.
You might even see more Dunkin' Donuts-brand packaged goods at the supermarket. Dunkin' was wildly successful with its 2008 push into packaged coffee that now reaches roughly 40,000 retail locations nationwide. As an encore, it could take a play from Starbucks' (SBUX) book and peddle other items -- coffee ice cream, snacks, bottled drinks and so on. Retail sales would be a great way to build the profits of a newly public Dunkin' Brands.
But can they keep up with first day trends?