Company cuts guidance after same-store sales, profit miss target
Panera Bread Co. reported on Tuesday a 15.6-percent increase in net income for its June 25-ended second quarter. However, the St. Louis-based chain lowered its guidance for the rest of the year after its same-store sales and operating earnings per share came in below expectations.
Result: $51 million, or $1.74 per share % increase: 15.6% (from $44.1 million, or $1.50 per share)
Result: $589 million % Increase: 11% (from $530.6 million)