Panera Bread Reaffirms Q1, FY14 Earnings Outlooks

(RTTNews) - Panera Bread Co. (PNRA) on Tuesday reaffirmed its first quarter earnings outlook of $1.49 to $1.55 per share and its full year 2014 earnings outlook of $6.80 to $7.05 per share.

Analysts polled by Thomson Reuters currently expect the company to earn $1.52 per share for the first quarter and $6.95 per share for the full year 2014.

During the Investor Day presentations, Panera Bread also shared the components of its strategic plan and initiatives to compete in an ever more digital and omni-channel marketplace.

Given that the rollout of some of those initiatives could result in choppy earnings growth in the near and medium term, the company noted that it would not at this time provide earnings guidance beyond fiscal 2014.

Ron Shaich, Panera Bread Chairman and CEO, said, "We are pleased to share with the investment community the strategic initiatives we have been developing for several years to improve our competitive position, expand our growth opportunities and ensure we have the necessary capabilities for the future. As already reflected in our guidance for fiscal 2014, we anticipate that these investments may depress both margins and earnings growth in fiscal 2014 and 2015. However, we believe these initiatives will enable us to better meet our customers' ever-evolving needs and provide the platform for significant growth and expanded earnings."