St. Louis, MO
Panera Bread Company has reported its second quarter 2012 results. The company reported net income of $44 million for the fiscal second quarter ended June 26, 2012, compared to $36 million for the similar period last year. This represents a 27% year-over-year increase in diluted earnings per share. For the twenty-six week period, net income was $85 million, compared to net income of $68 million for a similar period last year.
Bill Moreton, President and Co-CEO, states, “We are pleased to deliver 27% earnings growth in the second quarter, 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.” He adds, “We believe that our disciplined approach to continued investment in the bakery-cafes has resonated with our customers and ahs resulted in true concept differentiation as we strive to be the best competitive alternative in the businesses we serve.