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Panera Bread systemwide comps up nearly 3%
October 27, 2009
Panera Bread Company has reported a company-owned same-store sales increase of 3.3 percent for its third quarter ended Sept. 29, 2009.Franchise-operated same-store sales increased 2.5 percent, marking a systemwide increase of 2.8 percent compared to the same period last year.
The company-owned comps increase showcased transaction growth of 1.8 percent for the quarter, and average check growth of 1.5 percent. Average check growth was comprised of retail price increases of approximately 2.25 percent and negative mix impact of approximately
-0.75 percent.
Revenue for the company's third quarter increased 6 percent to $335 million, up from $315 million reported during the same period last year.
Meanwhile, net income for the quarter increased 38 percent to $19 million, or 61 cents per diluted share, up from a net income of $14 million, or 45 cents per diluted share, for the third quarter ended Sept. 23, 2008.
For the quarter, average weekly sales (AWS) for company-owned new units increased to $36,930 compared to $36,383 in the third quarter of fiscal 2008. AWS for company-owned new units year-to-date was $37,068 compared to $36,505 reported in the same period last year.
For the 39 weeks ended Sept. 29, 2009, revenue increased 5 percent to $986.5 million, up from $941 million reported for the same period last year.
Net income was $56 million, or $1.82 per diluted share for the quarter compared to net income of $42 million, or $1.38 per diluted share, for the thirty-nine weeks ended Sept. 23, 2008.
The company and its franchisees also opened a combined 19 new locations. There are now a total of 1,362 units open systemwide. Of that total, 566 are company-owned and 779 are franchise-operated.
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