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Baron Funds Comments on Panera Bread Co.

November 06, 2013 | About:
Holly LaFon

Holly LaFon

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Shares of Panera Bread Co. (PNRA), a casual dining restaurant, declined 14.7% in the third quarter. Panera missed earnings expectations due to higher costs and lower-than-anticipated same store sales. The company continued to achieve higher same store sales than the industry, but that gap has narrowed recently. Growth has slowed relative to competitors due to capacity constraints at certain mealtimes, and the company is actively addressing the issue. (Michael Baron)

From Ron Baron's Baron Funds third quarter 2013 report.


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