Contact:     Steve West, Vice President of Investor Relations
    (Steve.West@panerabread.com)

Panera Bread Company Reports Q4 2014 Diluted EPS of $1.82 and Fiscal Year 2014 Diluted EPS of $6.64

HIGHLIGHTS
- Q4 2014 Company-owned comparable net bakery-cafe sales up 3.3%
- Q4 2014 Company-owned comparable net bakery-cafe transactions up 1.3%
- During FY 2014, 114 new bakery-cafes opened system-wide

St. Louis, MO, February 11, 2015 - Panera Bread Company (Nasdaq: PNRA) today reported net income of $48 million, or $1.82 per diluted share, for the thirteen weeks ended December 30, 2014. Diluted EPS for fiscal Q4 2014 was up 2% versus fiscal Q4 2013, excluding a goodwill impairment charge recorded in fiscal Q4 2014 of $2.1 million, or $0.05 per diluted share, and excluding the estimated $0.13 per diluted share benefit in fiscal Q4 2013 from the additional operating week. For the fourteen weeks ended December 31, 2013, the Company reported net income of $54 million, or $1.96 per diluted share. A reconciliation of GAAP and non-GAAP information is attached to this release as Schedule V.

For the fifty-two weeks ended December 30, 2014, net income was $179 million, or $6.64 per diluted share. Diluted EPS for full year fiscal 2014 was up $0.03 per diluted share, compared to full year fiscal 2013, when excluding certain items for both full year fiscal 2014 and fiscal 2013, as outlined on Schedule V. For the fifty-three weeks ended December 31, 2013, the Company reported net income of $196 million, or $6.81 per diluted share. A reconciliation of GAAP and non-GAAP information is attached to this release as Schedule V.

The Company's fiscal Q4 2014 and full year fiscal 2014 consolidated statements of comprehensive income and margin analyses are attached to this release as Schedule I. The following tables set forth, for the periods indicated, certain items included in the Company's consolidated statements of comprehensive income (in thousands, except per share data and percentages):

 
For the 13 Weeks Ended
 
For the 14 Weeks Ended
 
Percentage Change
 
December 30, 2014
 
December 31, 2013
 
 
 
 
 
 
 
Total revenue
$672,497
 
$661,732
 
2
 %
Net income
$48,492
 
$54,248
 
-11
 %
Diluted earnings per share
$1.82
 
$1.96
 
-7
 %
Shares used in diluted EPS
26,662
 
27,725
 
 

 
For the 52 Weeks Ended
 
For the 53 Weeks Ended
 
Percentage Change
 
December 30, 2014
 
December 31, 2013
 
 
 
 
 
 
 
Total revenue
$2,529,195
 
$2,385,002
 
6
 %
Net income
$179,293
 
$196,169
 
-9
 %
Diluted earnings per share
$6.64
 
$6.81
 
-2
 %
Shares used in diluted EPS
26,999
 
28,794
 
 

1

The following information was filed by Panera Bread Co (PNRA) on Wednesday, February 11, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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