Panera posts 24% jump in profit on cost cuts, sales gains

ST. LOUIS Panera Bread Co. credited cost cuts and an increase in menu prices for a 24-percent jump in net income for the second quarter ended June 24. Revenues rose 27 percent, reflecting same-store sales gains of 6.5 percent for company units and 4.8 percent for company stores.

Profits for the period totaled $15 million, or 52 cents per diluted share, compared with $13 million or 39 cents a diluted share for the year-ago quarter. Revenues were $320.9 million,

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