Panera Bread president and Co-CEO Bill Moreton said the 27% earnings growth in the second quarter is the ninth out of the last ten quarters where earnings growth has exceeded 20%.
"Our strong comparable sales growth in the quarter of 7.1% is the direct result of our past and current investments in the quality of our food, marketing, operations, and customer experience," Moreton added.
System-wide comparable net bakery-cafe sales increased 5.9%. While the company-owned comparable net bakery-cafe sales rose 7.1%, franchise-operated comparable net bakery-cafe sales increased 4.8%.
Bakery-cafe sales increased 18% to $469m, which represents 88.3% of total revenues. Franchise royalties and fees rose 7.6% to $25m. Fresh dough and other product sales to franchisees grew 11% to $37m.
Panera Bread Company owns and franchises 1,591 bakery-cafes under the Panera Bread, Saint Louis Bread Co, and Paradise Bakery & Cafenames.
