Panera Bread reports profit down 17.4% in 3Q

Panera Bread reports profit down 17.4% in 3Q

Company takes charges for refranchising, tax adjustments

Panera Bread Co. reported net income was down 17.4 percent for the third quarter ended Sept. 29 after charges for refranchising and tax adjustments, the company said Tuesday.

The St. Louis-based bakery-café chain reported profit of $32. 4 million, or $1.27 per share, compared to $39.2 million, or $1.46 per share, in the prior-year quarter. Revenue in the quarter was up 7.2 percent, to $664.7 million from $619.9 million in the same period last year.

Same-store sales at

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