Panera Bread Q2 Profit Decreases; Reiterates Full Year Outlook - Quick Facts

(RTTNews) - Panera Bread Company (PNRA) reported net income of $42 million, or $1.60 per share, for second quarter 2015 compared to $49 million, or $1.82 per share, prior year. Earnings per share, excluding certain items, was $1.61, for the quarter.

On average, 27 analysts polled by Thomson Reuters expected the company to report profit per share of $1.63 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 7% to $677 million. Analysts expected revenue of $679.07 million for the quarter. Company-owned comparable net bakery-cafe sales increased 2.4%.

The company reiterated its full year fiscal 2015 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. The company reiterated its targeted range for fiscal 2015 company-owned comparable net bakery-cafe sales growth of 2.0% to 3.5%.

The company announced that company-owned comparable net bakery-cafe sales in the first 27 days of fiscal third quarter 2015 were up 4.7%.