Panera 1Q: ‘Best quarter in 4 years’
Panera Bread Co. reported its “best quarter in four years” as it prepares for a sale, the company said Tuesday.
The St. Louis-based bakery-café chain saw increases in income, revenue and same-store sales in the first quarter ended March 28.
In April, the company agreed to a $7.5 billion sale to JAB Holding Co., the owner of a growing cache of coffee and breakfast concepts.
Panera reported that net income rose 21.1 percent, to $42.5 million, or $1.88 per share, up from $35 million, or $1.45 per share, the previous year. Revenue rose $727.6 million, from $685.2 million the previous year.