SOURCE: Panera Bread Company
ST. LOUIS, MO--(Marketwired - Mar 25, 2014) - Panera Bread Company (NASDAQ: PNRA) In connection with today's Investor Day presentations in Charlotte, North Carolina, during which Panera Bread Company shared the components of its strategic plan and initiatives to compete in an ever more digital and omni-channel marketplace, the Company is reaffirming its first quarter fiscal 2014 EPS target of $1.49 to $1.55 and its full year fiscal 2014 EPS target of $6.80 to $7.05, as well as its targeted fiscal 2014 Company-owned comparable net bakery-cafe sales growth range of 2.0% to 4.0% and goal of positive transaction growth in fiscal 2014. Given that the rollout of some of these initiatives could result in choppy earnings growth in the near and medium term, the Company is also noting that it will not at this time provide earnings guidance beyond fiscal 2014.
Ron Shaich, Chairman and CEO, commented, "We are pleased to share with the investment community the strategic initiatives we have been developing for several years to improve our competitive position, expand our growth opportunities and ensure we have the necessary capabilities for the future. As already reflected in our guidance for fiscal 2014, we anticipate that these investments may depress both margins and earnings growth in fiscal 2014 and 2015. However, we believe these initiatives will enable us to better meet our customers' ever-evolving needs and provide the platform for significant growth and expanded earnings."
A replay of the audio webcast of today's Investor Day presentations, including the slide presentations, will be available on the Investor Relations page at www.panerabread.com for the next 30 days.
About Panera Bread Company
Panera Bread Company owns and franchises 1,777 bakery-cafes as of December 31, 2013 under the Panera Bread®, Saint Louis Bread Co.®, and Paradise Bakery & Café® names. Our bakery-cafes are principally located in suburban, strip mall and regional mall locations. We feature high quality, reasonably priced food in a warm, inviting, and comfortable environment. With our identity rooted in handcrafted, fresh-baked, artisan bread, we are committed to providing great tasting, quality food that people can trust. Nearly all of our bakery-cafes have a menu highlighted by antibiotic-free chicken, whole grain bread, and select organic and all-natural ingredients, with zero grams of artificial trans fat per serving, which provide flavorful, wholesome offerings. Our menu includes a wide variety of year-round favorites complemented by new items introduced seasonally with the goal of creating new standards in everyday food choices. In neighborhoods across the United States and in Ontario, Canada, our customers enjoy our warm and welcoming environment featuring comfortable gathering areas, relaxing decor, and free internet access. Our bakery-cafes routinely donate bread and baked goods to community organizations in need. Additional information is available on our website, http://www.panerabread.com.
Matters discussed in this news release and in our public disclosures, whether written or oral, relating to future events or our future performance, including any discussion, express or implied, on our anticipated growth, operating results, plans, objectives, investments in strategic initiatives future earnings per share, and the impact of our investments in sales-building initiatives and operational capabilities on future sales and earnings, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are often identified by the words "believe," "positioned," "estimate," "project," "target," "plan," "goal," "assumption," "continue," "intend," "expect," "future," "anticipate," and other similar expressions, whether in the negative or the affirmative, that are not statements of historical fact. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict, and you should not place undue reliance on our forward-looking statements. Our actual results and timing of certain events could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, but not limited to, those discussed from time to time in our reports filed with the Securities and Exchange Commission, including our annual report on Form 10-K for the fiscal year ended December 31, 2013 and our quarterly reports on Form 10-Q. All forward-looking statements and the internal projections and beliefs upon which we base our expectations included in this release are made only as of the date of this release and may change. While we may elect to update forward-looking statements at some point in the future, we expressly disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.