$PNRA (Panera Bread Company)

$PNRA {{ '2015-07-29T13:00:36+0000' | timeago}} • Webcast

$PNRA 2Q15 Call: EBITDA was $100MM, excluding the one-time refranchising charge, roughly flat versus the prior year. Ended 2Q15 with $125MM in cash. Generated approx. $98MM of cash flow from operations and deployed $55MM towards CapEx. Repurchased $125MM of shares at an average repurchase price of $184 per share.

$PNRA {{ '2017-04-05T13:44:03+0000' | timeago}} • Announcement

Shareholder rights law firm Johnson & Weaver, LLP is investigating potential claims against $PNRA and $CWEI. One investigation concerns whether the Panera board failed to satisfy their duties to shareholders regarding the JAB deal to buy $PNRA at $315 per share in cash. The $CWEI investigation is regarding the acquisition by $NBL for $139 a share.

$PNRA {{ '2017-04-05T13:39:09+0000' | timeago}} • Announcement

Holding company JAB entered an agreement to buy $PNRA for $315 per share in cash, in a transaction valued at about $7.5Bil, including the assumption of approx. $340MM of net debt. The transaction is not subject to a financing condition and is expected to close during 3Q17.

$PNRA {{ '2017-02-08T19:06:19+0000' | timeago}} • Webcast

For 1Q17, $PNRA expects adjusted EPS to be $1.78-1.83 which will be a growth rate of 14-17% compared to 1Q16. 1Q17 same-store sales growth is expected to be 3.75-4.5%. For 2Q17, adjusted EPS is expected to be $1.80-1.87, up 1-5% versus 2Q16.

$PNRA {{ '2017-02-08T18:53:42+0000' | timeago}} • Webcast

During 4Q16, $PNRA opened 11 new bakery-cafes and franchisees opened 15 new bakery-cafes. $PNRA closed 12 company-owned bakery-cafes in 4Q16.

$PNRA {{ '2017-02-08T18:52:55+0000' | timeago}} • Webcast

$PNRA ended 4Q16 with $106MM in cash on hand. In 4Q16, the company spent $54MM in Capex primarily for new unit development and technology. For 2016, Capex was $200MM. In 4Q16, $PNRA repurchased 418,000 shares at an average price of $199 per share for a total of $83MM.

$PNRA {{ '2017-02-08T18:45:44+0000' | timeago}} • Webcast

In 4Q16, $PNRA’s bakery-cafe margins improved by 10BP to 17.7%. Food and paper costs decreased by 150BP to 28.4% of sales. This was attributable to benign food cost inflation, comp growth and intensive margin improvement efforts. Labor increased 80BP to 32.8% of sales.

$PNRA {{ '2017-02-08T18:16:49+0000' | timeago}} • Webcast

In 2016, $PNRA opened 93 new cafes with average weekly company sales of $49,745. The company refranchised 27 cafes in 2016 including its Canadian business. This brings the total number of refranchised cafes to 102 since the start of 2015.

$PNRA {{ '2017-02-08T14:15:37+0000' | timeago}} • Announcement

$PNRA expects FY17 new bakery-cafe of 70-80 system-wide bakery-cafe openings and the average weekly net sales performance for new company-owned bakery-cafes of $47,000-49,000. The company further expects to relocate 15-20 system-wide bakery-cafes, which is not included in the new bakery-cafe target.

$PNRA {{ '2017-02-08T14:14:24+0000' | timeago}} • Announcement

$PNRA expects FY17 non-GAAP EPS of $7.45-7.70, up 11-14% from last year. The company predicts company-owned comparable net bakery-cafe sales growth of 3.5-4.5%. The non-GAAP EPS estimate assumes non-GAAP operating margin to be flat to up 50 basis points from last year.

$PNRA {{ '2017-02-08T14:12:14+0000' | timeago}} • Announcement

$PNRA's company-owned comparable net bakery-cafe sales for 4Q16 increased 3.0%, franchise-operated comparable net bakery-cafe sales decreased 1.4%, and system-wide comparable net bakery-cafe sales increased 0.7% compared to last year.

$PNRA {{ '2017-02-08T14:10:46+0000' | timeago}} • Announcement

$PNRA reported a rise in 4Q16 earnings driven by lower income taxes as well as higher revenue. Net income rose to $44.01MM or $1.92 per share from $43.16MM or $1.74 per share last year. Revenue grew to $727.11MM from $691.77MM. Non-GAAP EPS increased to $2.05 from $1.88.

$PNRA {{ '2015-12-16T13:22:25+0000' | timeago}} • SEC

$PNRA's net cash provided by operating activities for 9 months ended Sept. 29, 2015 fell to $176.51MM from $194.64MM in the previous year period. Cash used in investing activities slid to $120.85MM from $145.03MM last year. Net cash provided by financing activities was $23.02MM compared to cash used in financing activities of $28.74MM last year.

$PNRA {{ '2015-12-16T13:18:49+0000' | timeago}} • SEC

$PNRA's cash and cash equivalents were $275.2MM as of Sept. 29, 2015, up from $196.5MM as of Dec. 30, 2014. Excluding assets held for sale and liabilities associated with assets held for sale, $PNRA had positive working capital of $120.6MM as of Sept. 29, 2015, up from $53.5MM as of Dec. 30, 2014.

$PNRA {{ '2015-12-16T12:58:10+0000' | timeago}} • SEC

$PNRA's total revenues for 3Q15 grew by 7.2% from last year. The rise was primarily due to opening of 119 new bakery-cafes system-wide since Sept. 30, 2014 and 2.8% increase in system-wide comparable net bakery-cafe sales for 3Q15, partially offset by closure of 18 bakery-cafes system-wide and refranchising of 30 bakery-cafes since last year.

$PNRA {{ '2015-12-16T12:46:04+0000' | timeago}} • SEC

During 9 months ended Sept. 29, 2015, $PNRA repurchased 1.52MM shares under 2014 repurchase authorization, at $181.05 per share, for about $275MM. As of Sept. 29, 2015, $PNRA has repurchased total of 1.95MM Class A common shares under this repurchase program, at $175.50 per share, for about $341.6MM.

$PNRA {{ '2015-12-16T12:34:29+0000' | timeago}} • SEC

As of Sept. 29, 2015, $PNRA classified as held for sale the assets and certain liabilities of 53 Company-owned bakery-cafes it expects to sell during next 12 months. During 3Q15 and 9 months ended Sept. 29, 2015, $PNRA recorded losses on assets held for sale of $1MM and $8.9MM.

$PNRA {{ '2015-07-29T13:59:17+0000' | timeago}} • Webcast

$PNRA 2Q15 Q&A: Short of Deutsche Bank asked whether the company is benchmarking internally or across other operators. Mike said that the company is benchmarking on both.

$PNRA {{ '2015-07-29T13:52:31+0000' | timeago}} • Webcast

$PNRA 2Q15 Q&A: Difrisco of Guggenheim asked when one should expect the next need for a fresh dough facility versus the last time it was opened. Mike replied that there is no new FDF coming and the company is mostly done for this cycle the reinvestments into the FDF.

$PNRA {{ '2015-07-29T13:43:33+0000' | timeago}} • Webcast

$PNRA 2Q15 Call: For 3Q15 and 4Q15 as a whole, comps expected to be up closer to the high end of full year range; EPS will be down YoverY, but to a lesser extent than in 1H15. 3Q15 EPS growth to be down YoverY, similar to 1Q15 & 2Q15. Beginning in 4Q15, PNRA will lap first large class of Panera 2.0 conversions & largest tranche of new delivery hubs

$PNRA {{ '2015-07-29T13:38:47+0000' | timeago}} • Webcast

$PNRA 2Q15 Call: Excluding one-time gains and losses, adjusted EPS growth is expected to be flat to down mid to high single digits vs. 2014 adjusted EPS of $6.53. 2015 same-store sales growth of 2-3.5%; operating margin contraction of 100-175 BPs. Expects 105-115 new bakery cafes system-wide with an average weekly net sales of $43,000-45,000.

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