Panera Posts 8.2% Q3 Comps

ST. LOUIS-Panera Bread cafes had a strong third quarter, prompting executives at the fast-casual chain to up its guidance for the rest of the year. “We are more excited than ever about our brand and its growth,” said Ron Shaich, the company’s chairman and CEO during a conference call.

For the quarter, which ended Oct. 4, year-over-year same-store sales rose 8.2%. Net income increase 36%, to about $11.7 million and revenues jumped 31%, to $148.6 million.

These results have led executives to predict same-store sales growth of between 5.25% and 5.75% for the fourth quarter, up from the prior projection of 2.5% to 4%. If it reaches that goal, earnings per share are estimated at between $1.62 and $1.63, an increase of 30% from last year’s performance.