Panera 3Q net income falls 8.3%

Panera 3Q net income falls 8.3%

Higher food costs, technology initiatives weighed down results

Panera Bread Co.’s net income fell 8.3 percent for the Sept. 30-ended third quarter, with higher costs offsetting same-store sales growth, the company reported Tuesday.

The St. Louis-based bakery-café operator cited higher-than-anticipated food costs and expenses for several initiatives, including enhancements to operations, delivery hubs and technological capabilities. The company said total costs and expenses rose 11 percent.

In the latest quar

Register to view the full article

Register to view this article

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish