Panera Bread Company (PNRA, Financial) filed Quarterly Report for the period ended 2012-03-27.
Panera Bread Co has a market cap of $4.77 billion; its shares were traded at around $158.07 with a P/E ratio of 32.3 and P/S ratio of 2.6. Panera Bread Co had an annual average earning growth of 22.1% over the past 10 years. GuruFocus rated Panera Bread Co the business predictability rank of 4-star.
For the thirteen weeks ended March 29, 2011, we earned $1.09 per diluted share with the following performance on key metrics: system-wide comparable bakery-cafe sales grew 3.3 percent compared to the thirteen weeks ended March 30, 2010 (growth of 3.3 percent for Company-owned bakery-cafes and growth of 3.4 percent for franchise-operated bakery-cafes); system-wide average weekly net sales increased 2.7 percent to $43,096 ($42,532 for Company-owned bakery-cafes and $43,568 for franchise-operated bakery-cafes); and 19 new bakery-cafes opened system-wide (eight Company-owned bakery-cafes and 11 franchise-operated bakery-cafes).
Total revenues for the thirteen weeks ended March 27, 2012 increased 18.1 percent to $498.6 million compared to $422.1 million for the thirteen weeks ended March 29, 2011. The growth in total revenues for the thirteen weeks ended March 27, 2012 compared to the same period in 2011 was primarily due to the opening of 115 new bakery-cafes system-wide since March 29, 2011 and the 6.3 percent increase in system-wide comparable net bakery-cafe sales for the thirteen weeks ended March 27, 2012. The system-wide average weekly net sales per bakery-cafe for the periods indicated were as follows:
The cost of food and paper products was $129.0 million, or 29.4 percent of net bakery-cafe sales, for the thirteen weeks ended March 27, 2012 compared to $106.2 million, or 29.1 percent of net bakery-cafe sales, for the thirteen weeks ended March 29, 2011. This increase in the cost of food and paper products as a percentage of net bakery-cafe sales for the thirteen weeks ended March 27, 2012 compared to the same period in 2011 was primarily due to food cost inflation, partially offset by improved leverage from higher comparable net bakery-cafe sales. For the thirteen weeks ended March 27, 2012, there was an average of 73.0 bakery-cafes per fresh dough facility compared to an average of 67.9 for the thirteen weeks ended March 29, 2011, respectively.
Other operating expenses were $57.5 million, or 13.1 percent of net bakery-cafe sales, for the thirteen weeks ended March 27, 2012 compared to $47.3 million, or 12.9 percent of net bakery-cafe sales, for the thirteen weeks ended March 29, 2011. The increase in other operating expenses as a percentage of net bakery-cafe sales for the thirteen weeks ended March 27, 2012 compared to the same period in 2011 was primarily a result of increased marketing expenses and timing of certain other controllable expenses, partially offset by leverage from higher comparable net bakery-cafe sales.
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Panera Bread Co has a market cap of $4.77 billion; its shares were traded at around $158.07 with a P/E ratio of 32.3 and P/S ratio of 2.6. Panera Bread Co had an annual average earning growth of 22.1% over the past 10 years. GuruFocus rated Panera Bread Co the business predictability rank of 4-star.
Highlight of Business Operations:
For the thirteen weeks ended March 27, 2012, we earned $1.40 per diluted share with the following performance on key metrics: system-wide comparable net bakery-cafe sales grew 6.3 percent compared to the thirteen weeks ended March 29, 2011 (growth of 7.5 percent for Company-owned bakery-cafes and growth of 5.2 percent for franchise-operated bakery-cafes); system-wide average weekly net sales increased 5.8 percent to $45,576 ($45,426 for Company-owned bakery-cafes and $45,714 for franchise-operated bakery-cafes); 22 new bakery-cafes opened system-wide (seven Company-owned bakery-cafes and 15 franchise-operated bakery-cafes); and one Company-owned bakery-cafe closed.For the thirteen weeks ended March 29, 2011, we earned $1.09 per diluted share with the following performance on key metrics: system-wide comparable bakery-cafe sales grew 3.3 percent compared to the thirteen weeks ended March 30, 2010 (growth of 3.3 percent for Company-owned bakery-cafes and growth of 3.4 percent for franchise-operated bakery-cafes); system-wide average weekly net sales increased 2.7 percent to $43,096 ($42,532 for Company-owned bakery-cafes and $43,568 for franchise-operated bakery-cafes); and 19 new bakery-cafes opened system-wide (eight Company-owned bakery-cafes and 11 franchise-operated bakery-cafes).
Total revenues for the thirteen weeks ended March 27, 2012 increased 18.1 percent to $498.6 million compared to $422.1 million for the thirteen weeks ended March 29, 2011. The growth in total revenues for the thirteen weeks ended March 27, 2012 compared to the same period in 2011 was primarily due to the opening of 115 new bakery-cafes system-wide since March 29, 2011 and the 6.3 percent increase in system-wide comparable net bakery-cafe sales for the thirteen weeks ended March 27, 2012. The system-wide average weekly net sales per bakery-cafe for the periods indicated were as follows:
The cost of food and paper products was $129.0 million, or 29.4 percent of net bakery-cafe sales, for the thirteen weeks ended March 27, 2012 compared to $106.2 million, or 29.1 percent of net bakery-cafe sales, for the thirteen weeks ended March 29, 2011. This increase in the cost of food and paper products as a percentage of net bakery-cafe sales for the thirteen weeks ended March 27, 2012 compared to the same period in 2011 was primarily due to food cost inflation, partially offset by improved leverage from higher comparable net bakery-cafe sales. For the thirteen weeks ended March 27, 2012, there was an average of 73.0 bakery-cafes per fresh dough facility compared to an average of 67.9 for the thirteen weeks ended March 29, 2011, respectively.
Other operating expenses were $57.5 million, or 13.1 percent of net bakery-cafe sales, for the thirteen weeks ended March 27, 2012 compared to $47.3 million, or 12.9 percent of net bakery-cafe sales, for the thirteen weeks ended March 29, 2011. The increase in other operating expenses as a percentage of net bakery-cafe sales for the thirteen weeks ended March 27, 2012 compared to the same period in 2011 was primarily a result of increased marketing expenses and timing of certain other controllable expenses, partially offset by leverage from higher comparable net bakery-cafe sales.
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