Refranchising charges impact Panera 2Q profit

Posted online July 29, 2015 | 11:40 am

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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