Special charges impact Panera 2Q profit

Special charges impact Panera 2Q profit

Bakery-cafe takes charges for refranchising, insurance issue

Panera Bread Co.’s net income fell 14.8 percent in the second quarter ended June 30 on special charges for refranchising and an insurance issue, the company reported Tuesday.

The St. Louis-based bakery-cafe company reported income of $41.9 million, or $1.60 a share, compared to $49.2 million, or $1.82 a share, in the same period a year ago. Revenues in the second quarter were up 7.2 percent, to $676.7 million from $631.1 million a year ago.

Same-store sales systemwide

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