Panera Profits Rise, Stock Falls Flat

1 decade 3 years 6 months ago Wednesday, July 26 2006 Jul 26, 2006 Wednesday, July 26, 2006 7:55:30 PM CDT July 26, 2006 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
ST. LOUIS - Panera Bread Company's second-quarter profits rose 35% on stronger same-store sales, but the company's stock price tumbled nearly 12% in Wednesday morning trading as third-quarter earnings guidance fell short of analyst expectations. The St. Louis-based chain of 897 bakery-restaurants said earnings rose to $14.1 million, or 44 cents per share, in the period that ended June 27, up from profits of $10.4 million, or 33 cents per share, for the second quarter of 2005. The company predicted profits of 34-37 cents per share in the third quarter, but because of factors that included rollout costs for the new Crispani pizza, that fell short of analyst expectations of 44 cents per share.

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