Long Starbucks's short Panera
Barron's on Panera: "...we aren't surprised to see the stock treading water today in the high-30s, about half its '06 peak...Panera could head for 30 in the next 12 months, based on the company's troubling outlook for 2008. In a Feb. 13 earnings conference call, management acknowledged it faces "a difficult year." The company reported lower fourth-quarter earnings, and a full-year drop in net profits due to losses on a flat-bread pizza line it is discontinuing, and other charges. It pared its '08 profit forecast to growth of 12% to 18% growth, or $2 to $2.11 per share; expressed concern about "rapidly escalating wheat costs" which are hurting profit margins; and noted that average weekly sales slipped at bakeries and cafés.
Panera also said new store growth would slow to 8% this year versus 23 in 2007...
Tuesday, February 26, 2008
Panera slowly sinks into the sunset...
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I kind of like panera because of the wifi and the food, but around the lunch hour it doesn't feel entirely laptop friendly. It gets so busy with lunch-goers that the free wifi goes to waste during these hours. they really need a separate laptop section or something. and another section for babies. the number of little kids in there.... it's not a bad thing necessarily, but it was a little distracting this morning when (1) while in line, a little girl that kept falling over was super cute...until she came over to me, grabbed my leg, and then when I smiled and waved, she burst into tears, fell over backwards and almost hit her head. i felt guilty and then projected that guilt onto the establishment as annoyance. )2) after i sat down, i was doing some reading and a little boy took a serious interest in the middle picture of three pictures hanging over my head. he came right over to me, pointing at the picture and yelling in his little kid voice "the middle one!"
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