Panera Bread's Stock Drops Despite Higher Profits

Even though Panera Bread's (Nasdaq: PRNA) profit jumped 17.1 percent in its third quarter ending September 24, its stock dropped when it announced earnings on Tuesday, October 22. Shares in Panera fell 3.2 percent to $157.28 per share in after-hours trade because sales at company-owned bakery cafes open at least 18 months rose just 1.7 percent, compared with analysts' expectations for a 2.7 percent increase. Story