- Panera Bread (NASDAQ:PNRA) reports comparable bakery-cafe sales increased 3.0% in Q4 at company-operated stores vs. +3.50% consensus estimate.
- Pricing was up 1.8% during the quarter. The mix of digital sales increased to 24%.
- Cost of food and paper products -150 bps to 28.9% of sales.
- Labor costs +80 bps to 32.8% of sales.
- Operating profit rate -40 bps to 9.7%.
- Panera is targeting full-year EPS of $7.45-$7.70. In an aggressive goal, delivery is targeted to be available at 30%-40% of system-wide bakery-cafes this year.
- Previously: Panera Bread beats by $0.05, revenue in-line (Feb. 7)
- PNRA +1.74% after hours to $218.00.