Panera Bread Co. reported an 11.9-percent decrease in profit for the April 1-ended first quarter compared to the prior-year period. The St. Louis-based company said “severe weather” impacted its restaurants, yielding a 0.1-percent increase in company-owned same-store sales. The company saw a transaction decline of 2.8 percent and check growth of 2.9 percent at its stores.
Panera owns and franchises 1,800 bakery-cafes under the Panera Bread, Saint Louis Bread Co. and Paradise Bakery & Café brands.
1Q NET INCOME
Result: $42.4 million, or $1.55 per share% Decrease: 11.9% (from $48.1 million, or $1.64 per share)
1Q REVENUE
Result: $605.4 million% Increase: 7.8% (from $561.8 million)
1Q SAME-STORE SALES
% Increase at corporate units: 0.1%Source: Company report
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