Panera Bread Company has reported that in the fourth quarter of fiscal 2009 company-owned same-store sales increased 5.9 percent on a fiscal basis. Company-owned comps also increased in each of the fiscal months of the fourth quarter of 2009 with increases of 6.8 percent, 6.1 percent, and 9.6 percent for October, November and December, respectively.
In addition, the company announced that comps were up 9.4 percent in the first 21 days of the January 2010 fiscal month.
Company-owned same-store sales for the fourth quarter of calendar 2009 increased 7.4 percent. The calendar year of the company's 2009 fourth quarter included one less week when compared to fourth quarter fiscal 2008 results.
Based on the strength of its comps growth, the company is now targeting earnings per diluted share of $0.94 to $0.95 for the fourth quarter (13 weeks) ended Dec. 29, 2009. The results compare to net income of $0.84 per diluted share for the fourth quarter (14 weeks) ended Dec. 30, 2008.
"Our 7.4 percent growth in comparable bakery-cafe sales in the fourth quarter, capped by comparable bakery-cafe sales growth in excess of 9% in December and in January-to-date, validates our commitment to invest in our business to benefit the customer," Ron Shaich, Panera's chairman and CEO, said. "Simply put, our strategy is working and our customers continue to respond to Panera with enthusiasm."
The company will update its fiscal 2010 EPS and metric targets in its fourth quarter fiscal 2009 press release Feb. 11, 2010, after the market close.
The company also will host a conference call that will be broadcast on the Internet at 8:30 a.m. Eastern time Feb. 12, 2010, to discuss fourth quarter fiscal 2009 results, preliminary comparable bakery-cafe sales results for the first 43 days of the fiscal 2010 first quarter, and fiscal 2010 targets and business outlook.
To access the call or view a copy of this release, go to http://www.panerabread.com/investor. Access to the call will be made available for 14 days after the call, and the release will be archived for one year.
