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Panera 1Q: ‘Best quarter in 4 years’Panera 1Q: ‘Best quarter in 4 years’

Earnings come as bakery-café chain readies sale

Ron Ruggless, Senior Editor

April 26, 2017

1 Min Read
panera sign
Getty Images

Panera Bread Co. reported its “best quarter in four years” as it prepares for a sale, the company said Tuesday.

The St. Louis-based bakery-café chain saw increases in income, revenue and same-store sales in the first quarter ended March 28.

In April, the company agreed to a $7.5 billion sale to JAB Holding Co., the owner of a growing cache of coffee and breakfast concepts.

Panera reported that net income rose 21.1 percent, to $42.5 million, or $1.88 per share, up from $35 million, or $1.45 per share, the previous year. Revenue rose $727.6 million, from $685.2 million the previous year.

Same-store sales at company-owned bakery-cafés rose 5.3 percent in the quarter.

“Over the last five years, we have developed and executed a powerful strategic plan to be a better competitive alternative with expanded runways for growth,” said Ron Shaich, Panera chairman and CEO, in a statement. “The themes we have bet on — digital, clean food, loyalty, delivery and new formats for growth — are shaping the restaurant industry today. 

Shaich said 26 percent of Panera’s sales are now digital. The company has also been expanding delivery, which is available in 24 percent of the system. 

The company said Monday that it would expand delivery to 35–40 percent of its more than 2,000 restaurants by the end of the year, and add more than 10,000 in-store and delivery driver jobs.

As of March 28, Panera had 2,042 bakery-cafés in 46 states and Ontario, Canada, operating under the Panera Bread, Saint Louis Bread Co. and Paradise Bakery & Cafe brands.

Contact Ron Ruggless at [email protected]

Follow him on Twitter: @RonRuggless

About the Author

Ron Ruggless

Senior Editor, Nation’s Restaurant News / Restaurant Hospitality

Ron Ruggless serves as a senior editor for Informa Connect’s Nation’s Restaurant News (NRN.com) and Restaurant Hospitality (Restaurant-Hospitality.com) online and print platforms. He joined NRN in 1992 after working 10 years in various roles at the Dallas Times Herald newspaper, including restaurant critic, assistant business editor, food editor and lifestyle editor. He also edited several printings of the Zagat Dining Guide for Dallas-Fort Worth, and his articles and photographs have appeared in Food & Wine, Food Network and Self magazines. 

Ron Ruggless’ areas of expertise include foodservice mergers, acquisitions, operations, supply chain, research and development and marketing. 

Ron Ruggless is a frequent moderator and panelist at industry events ranging from the Multi-Unit Foodservice Operators (MUFSO) conference to RestaurantSpaces, the Council of Hospitality and Restaurant Trainers, the National Restaurant Association’s Marketing Executives Group, local restaurant associations and the Horeca Professional Expo in Madrid, Spain.

Ron Ruggless’ experience:

Regional and Senior Editor, Informa Connect’s Nation’s Restaurant News and Restaurant Hospitality (1992 to present)

Features Editor – Dallas Times Herald (1989-1991)

Restaurant Critic and Food Editor – Dallas Times Herald (1987-1988)

Editing Roles – Dallas Times Herald (1982-1987)

Editing Roles – Charlotte (N.C.) Observer (1980-1982)

Editing Roles – Omaha (Neb.) World-Herald (1978-1980)

Email: [email protected]

Social media:

Twitter@RonRuggless

LinkedIn: www.linkedin.com/in/ronruggless

Instagram: @RonRuggless

TikTok: @RonRuggless

 

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