Industry News | February 13, 2003

Panera Comps Up 2 Percent

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Panera Bread Company has reported that system-wide comparable bakery-cafe sales increased 2.0% for the four weeks ended January 25, 2003. That increase breaks down into a 0.8% increase for company-owned stores and a 2.5% increase for franchised locations.

Average system-wide weekly sales (excluding the one specialty bakery-cafe and closed locations) increased 4.0% to $34,753 for the four weeks ended January 25, 2003 compared to $33,425 for the four weeks ended January 26, 2002.

The Company reiterated the 2003 earnings per share target of $0.99. This target is based on comparable system-wide bakery-cafe sales increases of 3% and the development of 120 new bakery-cafes (28 company-owned and 92 franchised).

The Company will release its fourth quarter and full year 2002 earnings on February 25, 2003 prior to market open.

News and information presented in this release has not been corroborated by QSR, Food News Media, or Journalistic, Inc.