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Restaurant Industry News
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Sunday June 11th, 2006 |
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Panera Bread Reports Third Quarter Revenues Increased 30.6%
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Panera Bread Reports Third Quarter Revenues Increased 30.6% and System-Wide Comparable Bakery-Cafe Sales Increased 7.9% for the Four Weeks Ended October 4, 2005 and Raises Third Quarter Earnings Per Diluted Share Target to $0.36 to $0.37 |
Panera Bread Company (NASDAQ:PNRA) today reported that revenue increased 30.6% to $148.6 million for the third quarter ended October 4, 2005 from $113.8 million in the third quarter of 2004. Bakery-cafe sales accounted for $116.5 million of consolidated revenues while franchise royalties and fees and fresh dough sales to franchisees accounted for $32.1 million of consolidated revenues for the third quarter of 2005.
System-wide comparable bakery-cafe sales increased 7.9% for the four weeks ended October 4, 2005. The breakdown between Company-owned and franchised bakery-cafes is as follows:
For the For the Year-to-date
4 weeks ended 12 weeks ended through
October 4, 2005 October 4, 2005 October 4, 2005
Company-owned 5.9% 7.2% 7.4%
Franchised 8.8% 8.6% 8.1%
Total System 7.9% 8.2% 7.9%
Comparable bakery-cafe sales increases exclude closed locations and are based on sales for bakery-cafes that have been in operation for at least 18 months.
The 8.2% increase in system-wide comparable sales for the 12 weeks ended October 4, 2005 exceeded the Company's targeted growth range of 6.5% to 8.0% for the third quarter. The Company now expects earnings per diluted share for the third quarter of 2005 of $0.36 to $0.37, representing an increase of 29% to 32% over the third quarter of 2004. The Company is today reaffirming its prior fourth quarter earnings per diluted share target of $0.46-$0.47.
During the third quarter of 2005, 30 new bakery-cafes were opened (10 Company and 20 franchise).
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| Last: |
63.04 |
| Time: |
6/9/2006 4:00pm |
| Change: |
+0.42 |
| Opened: |
62.50 |
| Day: |
63.85 - 62.45 |
| Volume: |
548988 |
| Panera Bread Recognized As The Top Performer In Restaurant Category for One, Five and Ten Year Returns To Shareholders |
| Panera Bread Reports 36% Increase in Third Quarter Net Income and Raises 2005 Target |
| Luby's Announces Third Quarter Fiscal 2006 Results |
| Brinker International Confirms 2006 Guidance and Provides 2007 Outlook |
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