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Panera Bread Reports Fourth Quarter Revenues Increased 33.1% and System-Wide Comparable Bakery-Cafe Sales Increased 7.2% for the Four Weeks Ended December 27, 2005 and Raises Fiscal Year 2005 Earnings Per Share Target to $1.64 to $1.65 Per Diluted Share.

Article Excerpt
ST. LOUIS, Jan. 5 /PRNewswire-FirstCall/ -- Panera Bread Company today reported that revenue increased 33.1% to $173.1 million for the fourth quarter ended December 27, 2005 from $130.1 million in the fourth quarter of 2004. Bakery-cafe sales accounted for $137.0 million of consolidated revenues while franchise royalties and fees and fresh dough sales to franchisees accounted for $36.1 million of consolidated revenues for the fourth quarter of 2005.

System-wide comparable bakery-cafe sales increased 7.2% for the four weeks ended December 27, 2005. The breakdown between Company-owned and franchised bakery-cafes is as follows:

For the 4 weeks For the 12 weeks Year-to-date ended ended through December 27, 2005 December 27, 2005 December 27, 2005 Company-owned 6.6% 7.4% 7.4% Franchised 7.4% 7.8% 8.0% Total System 7.2% 7.7% 7.8%

Company-owned comparable bakery-cafe sales increases are based on sales for bakery-cafes that have been in operation and company owned for at least 18 months. Franchised comparable bakery-cafe sales increases are based on sales for bakery-cafes that have been in operation for at least 18 months. Both company-owned and franchised comparable bakery-cafe sales exclude closed locations.

The 7.7% increase in system-wide comparable sales for the 12 weeks ended December 27, 2005 exceeded the Company's targeted growth range of 5.25% to 5.75% for the fourth quarter. The...