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Panera reports 1Q earnings
April 3, 2007
ST. LOUIS — Same-store sales at Panera Bread Company decreased 0.2 percent for the first quarter ended March 27, the company announced April 4.
Company-owned same-store sales attributed to 1 percent of the decrease during the four-week period, while franchise-operated comps accounted for 0.2 percent of the decline. First-quarter comps were based on sales percentages from bakery-cafes in operation at least 18 months.
Revenue increased 24 percent, up from $194 million in 1Q '06 to $240 million in 1Q '07.
During the first quarter of 2007, 31 new bakery-cafes were opened (14 company-owned and 17 franchise-operated), 4 bakery-cafes were acquired by the company from a franchisee, and one company-owned bakery-cafe was closed.
Additionally, on Feb. 1 the company purchased 51 percent of the outstanding stock of Paradise Bakery and Cafe, resulting in the acquisition of 23 company-owned locations including 22 bakery-cafes and one commissary, and 23 franchise-operated locations including 22 bakery-cafes and one commissary.
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