Panera Bread Co Reports Increased Same Store Sales in 2Q
Panera Bread Co Reports Increased Same Store Sales in 2Q

On Tuesday, St. Louis, Missouri based Panera Bread Co, the American bakery-café fast casual restaurant chain operating in the United States and Canada reported its second quarter earnings reports that ended on June 28. The company said its same-store sales in the second quarter climbed 2.3 percent and that also surpassed the estimates of analysts.

It can be a hint that the softening in the U.S. demand trend is gradually coming to an end. Shares went up about four percent during the extended trading.

In a statement, Ron Shaich, CEO and Chairman of Panera said, "Our strong Q2 results reinforce the fact that our strategy is working and our initiatives are performing. Panera is becoming a better competitive alternative with expanded runways for growth."

Net income of the bakery-café chain in the quarter including refranchising charges dropped 17.7 percent or $1.46 a share at $34.5 million. That compares to last year's same quarter's $1.60 a share or $41.9 million.

The company's revenue climbed from last year same quarter's $676.7 million to $698.9 million or 3.3 percent.

On June 28, 2016 Panera had 2,007 bakery-cafés in Forty Six U.S States and in Canada which were operating under the names of Panera Bread, Saint Louis Bread Co. and Paradise Bakery & Cafe.