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Panera's 4Q earnings increase 5.8%

Panera's 4Q earnings increase 5.8%



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Panera Bread Co. on Tuesday said profit increased 5.8 percent in the fourth quarter after special charges, and same-store sales rose at both its corporate-owned and franchised locations.

The 1,541-unit St. Louis, Mo.-based bakery-café chain said earnings for the quarter ended Dec. 27, 2011, rose to $38.6 million, or $1.31 per share, up from $36.5 million, or $1.21 per share, in the prior-year period.

Revenue was up 15.8 percent, to $495.8 million from $428.2 in the year-ago quarter.

The company said same-store sales increased 5.9 percent in the quarter at company-owned restaurants and 3.2 percent at franchised units.

For fiscal 2011, the company said it saw systemwide new-unit average weekly sales rise to a new high of $41,416, surpassing a record set in fiscal 2010.

Panera also said it was in the process of acquiring back from a franchisee the Raleigh-Durham, N.C., market for $48 million, a deal expected to close by the end of the first quarter.

Panera’s earnings for the quarter reflected a $5 million charge for the proposed settlement of an employment legal matter in California, the company said. That proposed settlement was related to breaks and meal periods for employees in the state.

During the fourth quarter, Panera said it opened 24 new bakery-cafés and its franchisees opened 16 restaurants. That brought Panera’s total to 1,541 units as of Dec. 27.

RELATED: Panera eyes urban locations

Panera also said Jeff Kip, chief financial officer for the past six years and executive vice president, would be leaving the company March 15 to join IAC/InterActiveCorp. A search for his replacement is underway.

Panera operates restaurants under the Panera Bread, St. Louis Bread Co. and Paradise Bakery & Café brands.

Contact Ron Ruggless at [email protected]
Follow him on Twitter: @RonRuggless


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.


Panera shrugs off industry slump, topping estimates and raising forecast

Panera Bread (PNRA) Tuesday topped Wall Street's expectations for the third quarter and raised its forecast for the year, sending shares 6 percent higher after the closing bell.

Panera reported its earnings excluding items rose to $1.37 a share on revenue of $684.2 million, compared with earnings of $1.32 a share, excluding items, on revenue of $664.7 million in the year-ago period.

The results easily outpaced analysts' estimates, which called for the company to report earnings of $1.34 a share on $680 million in revenue, according to Thomson Reuters.

Panera cited strategic changes it has made to its business for its strong performance, including the implementation of its Panera 2.0 digital ordering platform.

"The power of our multi-year strategic plan and the impact of our initiatives to transform Panera into a better competitive alternative with expanded runways for growth becomes clearer each quarter," said Chairman and CEO Ron Shaich in a press release.

Other steps Panera has taken to boost its business include focusing its menu on healthier foods, its loyalty program, and adding catering and delivery. The company said delivery was now available in 13 percent of its restaurants system-wide.

Indeed, many competitors have been hurt by a slowdown in restaurant traffic, but Panera said same-store sales rose 3.4 percent in the last period at its company-owned stores. Franchise-operated stores saw comps edge up 0.2 percent. System-wide comparable net bakery-cafe sales rose 1.7 percent from a year ago.

Panera was expected to post same-store sales growth of 2.8 percent, with company stores rising 3.7 percent and franchised stores up 1.2 percent, according to StreetAccount.

Panera said it is still targeting fiscal 2016 same-store sales growth between 4 percent and 5 percent for its company-owned bakery-cafes.

"With peak investments and significant scale behind us, our pace is quickening as we focus on completing the rollout of these initiatives and reaping the benefits," Shaich said in the release. "That's why we are confident our efforts will translate into industry-leading comps and sustainable double-digit earnings growth in 2017."

The company raised its fourth-quarter earnings forecast and now expects, excluding items, profits will be in the range of $1.96 to $2.01 a share.

For the fiscal year, Panera forecasts earnings of $6.67 to $6.72 a share, on a non-GAAP basis. That would equal growth of 7 percent to 8 percent year-over-year.