Panera Bread Pre-Releases 10% Growth in Comparable Bakery-Cafe Sales in Q1 and Increases Q1 EPS Target to $0.81 to $0.82 (Up 42% to 44% Versus 2009)
Panera Bread Company (NASDAQ: PNRA) today reported that in the first quarter of fiscal 2010 Company-owned comparable bakery-cafe sales increased 10%. Franchise-operated comparable bakery-cafe sales increased 9% for the same period.
As a result, the Company is raising its fiscal 2010 Company-owned comparable bakery-cafe sales growth target to 6.5% to 7.5% from the 4.5% to 6.5% target range provided in February.
Based on the strength of its comparable bakery-cafe sales growth for the first quarter of fiscal 2010, the Company has today raised its earnings per diluted share target to $0.81 to $0.82 for the first quarter ended March 30, 2010.
