Panera Gets Pounded

Shares of the bakery chain sank Wednesday after it cut sales growth targets and warned of margin pressures

Investors lost their appetite for Panera Bread (PNRA) after the chain of casual bakery-cafes cut its same-store sales growth target for the second quarter from 3.5%-4.5% to 1.5%-2.5%. The eatery also said its margins are under pressure because of a "mix shift" away from products made in its fresh dough facilities, along with higher gasoline and other input costs.

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