Panera’s 1Q profit rises on increased sales

Panera Bread Co. reported Tuesday that its first-quarter profit rose more than 27 percent on same-store sales growth at its bakery-cafes.

The St. Louis-based company said net income for the first quarter ended March 29 totaled $32.8 million, or $1.09 per share, compared with $25.8 million, or 82 cents per share, a year ago. Latest-quarter revenue increased nearly 16 percent to $422.1 million.

Same-store sales for the first quarter rose 3.3 percent at corporate stores and i

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