USA: Panera Bread Company reiterates confidence in third quarter and full year earnings per share targets
Panera Bread Company (Nasdaq: PNRA) chairman and chief executive officer Ron Shaich yesterday noted, "`In recent days there has been much concern among investors about the ability of companies in our industry to meet previously defined earnings targets. Based on our continued strong opening volumes and operating performance, we are today reiterating our confidence in Panera Bread Company's ability to meet our earnings per share target of $0.19 in the third quarter and $0.86 for the full year, which represents a 65% increase over 2000. We would further add that, based on what we know at this point in time, we do not foresee any material impact on our business plan nor the ability to meet our longer-term earnings targets as a result of the attacks on September 11th and their impact on the economy. We therefore continue to maintain a 2002 earnings per share target of $1.16, which represents a 35% increase over our 2001 target."
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