panera bread company-class a (PNRA) Key Developments
Panera Bread Company Appoints Andrew Madsen as President
May 11 15
On May 4, 2015, the board of directors of Panera Bread Company appointed Andrew Madsen, as the Company's President, effective May 11, 2015. Mr. Madsen served as President and Chief Operating Officer of NCL (Bahamas) Ltd., from October 2014 until March 2015. Prior to that, Mr. Madsen served as President and Chief Operating Officer of Darden Restaurants Inc., from November 2004 through September 2013.
Panera Bread to Close its Lewis Avenue Store
May 5 15
Panera Bread announced that it will be closing its store at 6981 S. Lewis Ave. by July 1, 2015.
Panera Bread Company Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015
Apr 29 15
Panera Bread Company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $648,504,000 against $605,337,000 a year ago. Operating profit was $51,197,000 against $67,005,000 a year ago. Income before income taxes was $50,895,000 against $67,594,000 a year ago. Net income was $31,860,000 or $1.20 per basic and diluted share against $42,395,000 or $1.55 per basic and diluted share a year ago. In fiscal first quarter of 2015, company-owned comparable net bakery-cafe sales increased 1.5%, franchise operated comparable net bakery-cafe sales decreased 0.1%, and system-wide comparable net bakery-cafe sales increased 0.7% compared to the same period in fiscal 2014. The company-owned comparable net bakery-cafe sales increase of 1.5% in fiscal first quarter of 2015 was comprised of year-over-year transaction growth of 0.1% and average check growth of 1.4%. The company generated approximately $72 million of cash flow from operations during the first quarter and deploys $50 million towards capital expenditures.
For the second quarter, the company expects that company-owned comparable net bakery-cafe sales in the first 27 days of fiscal second quarter of 2015 were up 2.0%.
The company reiterated its full year fiscal 2015 diluted earnings per share growth target of flat to down mid- to high-single digits when compared to full year fiscal 2014, excluding charges in fiscal 2015 for the Company's refranchising initiative and certain items for full year fiscal 2014 as disclosed in fiscal fourth quarter of 2014 earnings release. The company reiterated its targeted range for fiscal 2015 Company-owned comparable net bakerycafe sales growth of 2.0% to 3.5%. For fiscal 2015, the company continues to expect operating margin will be down 100 to 175 basis points when compared to fiscal 2014, excluding the impact of charges related to the Company's refranchising initiative. The company continue to hold tax rate estimate for 2015 in the neighborhood of 37%.
Panera Bread Company Plans to Open 105 to 115 System-Wide New Bakery-Cafe Openings in Fiscal 2015
Apr 28 15
Panera Bread Company continued to expect 105 to 115 system-wide new bakery-cafe openings in fiscal 2015 and is maintaining its average weekly net sales performance target for new company-owned bakery-cafes of $43,000 to $45,000. The company also continues to expect the conversion of approximately 300 company-owned bakery-cafes to Panera 2.0 during fiscal 2015.
Panera Bread Company - Shareholder/Analyst Call
Apr 23 15
Annual Meeting of Stockholders