Pricing and traffic up at Panera BreadPanera Bread (NASDAQ:PNRA) reports comparable bakery-cafe sales increased 5.3% in Q1 at company-operated stores. Total comparable sales growth came in at +2.6%, level with the consensus estimate.
Pricing was up 2% and transactions were 1.7% higher.
Digital sales accounted for 26% of sales during the quarter.
Cost of food and paper products -110 bps to 28.4% of sales.
Labor costs +140 bps to 33.4% of sales.
Operating profit rate +150 bps to 9.8%.
