John Gordon, DDIFO restaurant analyst, reported on yesterday’s Dunkin’ Q2 earnings call and advised that Dunkin’ US was in at least fair shape, with reported comps of +2.9%, and transactions were said to be +.6%, with which they were “satisfied”. The SSS KCup cannibalization was said to be .6%, due to the CPG rollout. There were 158 net new US DDs opened to date, with the Atlanta market and San Francisco SDA just sold. As usual, there was no talk about franchisee profitability (other than the general focus that Nigel always notes faithfully) other than the entire 2014 opening group was at 17%-20% unlevered (no debt or principal) cash on cash return (not including debt service, remodeling or maintenance CAPEX). The Brand reaffirmed 410 to 440 US DD opens for the year. Development to date was 16% in the core markets, 36% developed, 21% emerging and 26% western markets. Coffee sales mix was said to be the strongest since 2011, and breakfast sandwiches and specialty donuts were called out as strong.