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Highlights from Panera's earnings call

Apr. 27, 2016 9:41 AM ETPanera Bread Company (PNRA) StockPNRABy: Clark Schultz, SA News Editor1 Comment
  • Execs with Panera Bread (NASDAQ:PNRA) took a victory lap during today's earnings call after the company posted a strong report last night and raised guidance.
  • Bakery-cafe margins were higher in Q1, despite wage inflation of 5% at the retail level. Management expects wage inflation pressure to continue into 2017.
  • 15 bakery-cafes in the Portland area will be sold in May to bring the total of refranchised outlets to 90.
  • The company expects future cash flow will go toward investing in the business and share repurchases. The level of buybacks may cool from the pace in recent quarters.
  • The mix of digital utilization continues to accelerate. Stores with Panera 2.0 are outperfoming.
  • CEO Ron Boire uses a Boston Marathon analogy to describe Panera's battle to make it past upcoming challenges (Heartbreak Hill). He seems to be referring to the tough road ahead in matching last year's strong comps and working through investments.
  • Panera earnings call webcast
  • Previously: Panera Bread blazes past peers with comparable-store sales (April 26)
  • Shares of Panera are down 0.2% in early trading with the slightly cautious tone from management a factor.

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