Panera Bread shares were on the rise in after-hours trading following the company’s recently reported second quarter financial results.
As of July 29 at 2:33 PM EDT, Panera Bread shares are up approximately 8 percent.
The company reported a 7 percent increase in revenue during Q2 2015, with comparable net bakery-café sales jumping 2.4 percent as well.
Ron Shaich was pleased at the results of this quarter, noting that the company’s expanded growth opportunities are making a difference.
“In our history, sales have led and profits have followed, and we believe that will again be the case at Panera,” said Ron Shaich, Chairman and CEO. “In fact, our leading indicators give us increased confidence in our strategic plan and in our potential to reignite significant earnings growth.”
Panera Bread’s “Panera 2.0” initiative is moving smoothly as of the second quarter. The company reported that it had completed the conversion of 183 bakery-cafes to Panera 2.0, with 77 conversions completed year-to-date, according to the report.
Panera Bread has also completed the sale of 29 bakery-cafes to an existing franchisee, with 30 bakery-cafes refranchised year-to-date. The company plans to refranchise 50-150 bakery-cafes total.
Highlights from this quarter also included:
Over the quarter, Panera Bread opened 18 new bakery-cafes and its franchisees opened 12 bakery-cafes. There are 1,926 bakery-cafes open system-wide as of June 30, 2015.
Stay tuned to Deli Market News as we continue following Panera Bread’s financial performance in Q3 2015 and beyond.