Refranchising charges impact Panera 2Q profit

Panera Bread Co.’s net income fell 14.8 percent in the second quarter due to special charges for refranchising, the company reported Tuesday.

The St. Louis-based chain posted net income of $41.9 million, or $1.60 a share, compared to $49.2 million, or $1.82 a share, in the same period a year ago. Revenue moved up 7.2 percent to $676.7 million, according to Nation's Restaurant News.

The company is converted hundreds of locations to its Panera 2.0 concept, which includes mobile app orders and payments.

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