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Same-store sales drop 0.6% for Panera

ST. LOUIS Panera Bread Co. said severe winter weather in the Midwest, where many of its namesake bakery cafes are located, hurt February sales and led to a systemwide same-stores sales dip of 0.6 percent for the five weeks ended Feb. 27. Same-store sales for the period fell 1.3 percent at corporate restaurants and 0.2 percent at franchised units.

For the nine weeks ended Feb. 27, systemwide sales were unchanged from the same period a year earlier, Panera reported. That result reflected a 0.4-percent dip at corporate locations and a 0.2-percent uptick at franchised units. Panera operates or franchises about 1,027 bakery cafes.

According to J.P. Morgan Securities Inc. analyst Steven Reese, restaurants in Missouri, Ohio, Indiana and Illinois - states hit hard in February with snow storms - comprise 35 percent of all corporate units and 26 percent of systemwide units.

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