Panera Bread Company (PNRA): Share price defines bullish 'flag' consolidation

Filed under: Earnings reports, Starbucks (SBUX), Technical Analysis, Stocks to Buy

Panera Bread Company (NASDAQ: PNRA) owns and franchises some 1,200 bakery-cafes, operating under the Panera Bread and Saint Louis Bread banners in 40 states. The stores offer specialty baked goods, made-to-order sandwiches, soups, salads and custom roasted coffees. They also provide free WiFi Internet access. Starbucks Corporation (NASDAQ: SBUX) is a major competitor.

The company pleased investors last week, when it reported Q1 EPS of 47 cents and revenues of $305 million. Analysts had been expecting 39 cents and $302.8 million. Management also guided Q2 EPS to 40-44 cents (39 cent consensus) and FY08 EPS to $2.00-$2.11 ($2.02 consensus). The press release noted, "Company-owned comparable stores sales growth is targeted at 4% to 5% for the year, with approximately 5% of retail pricing expected."

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