Panera Bread Company (NASDAQ:PNRA) today reported that revenue increased 28% to $253 million for the second quarter ended June 26, 2007 from $197 million in the second quarter of 2006. Bakery-cafe sales accounted for $210 million of consolidated revenues while franchise royalties and fees and fresh dough sales to franchisees accounted for $43 million of consolidated revenues for the second quarter of 2007.
System-wide comparable bakery-cafe sales increased 2.3% for the four weeks ended June 26, 2007. The breakdown between Company-owned and franchise- operated bakery-cafes is as follows for the periods indicated:
For the 4 weeks For the 13 weeks Year-to-date
ended ended through
June 26, 2007 June 26, 2007 June 26, 2007
Company-owned 2.1% 1.7% 0.6%
Franchise-operated 2.4% 2.3% 1.3%
Total System 2.3% 2.1% 1.1%
Company-owned comparable bakery-cafe sales percentages are based on sales from bakery-cafes that have been in operation and Company-owned for at least 18 months. Franchise-operated comparable bakery-cafe sales percentages are based on sales from franchised bakery-cafes that have been in operation and franchise-operated for at least 18 months. Both Company-owned and franchise-operated comparable bakery-cafe sales exclude closed locations. Supplemental sales and bakery-cafe information is included in Schedule I.
During the second quarter of 2007, 39 new bakery-cafes were opened (17 Company-owned and 22 franchise-operated), 32 bakery-cafes were acquired by the Company from franchisees, one bakery-cafe was sold by the Company to a franchisee, and five bakery-cafes were closed.
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