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(Updated with additional information and quote from Panera chairman.)
NEW YORK (
were mostly lower Wednesday following the latest round of earnings announcement from
Panera Bread(PNRA - Get Report),
Buffalo Wild Wings(BWLD - Get Report),
P.F. Chang's China Bistro(PFCB) and
Kona Grill(KONA - Get Report).
Panera posted third-quarter earnings of $23 million, or 75 cents per share, in line with expectations, but top-line sales of $372 million came in just shy of analysts' consensus call for revenue of $373 million. Quarterly profits jumped 21.1% year-over-year.
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Still, the sandwich and salad purveyor was optimistic. Panera raised its earnings guidance for the current quarter, saying it now expects to earn between $1.15 and $1.17 per share in the fourth quarter. That's as much as a nickel past Wall Street's expectations for fourth-quarter earnings of $1.13 per share.
"We're coming right through this recession as strong as ever," Executive Chairman Ronald M. Shaich told
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Panera reported that system-wide same-store sales, or sales at stores open at least one year -- a closely watched metric in the restaurant industry -- grew 6.9% in the recent quarter. The comps data included a 5.5% increase at company-owned stores and a 7.9% increase at franchise-operated locations.