UPDATE: Panera Bread Q4 Profit Up 34%

Panera Bread Co

reported a 34% rise in its fiscal fourth-quarter profit. Panera Bread's quarterly profit surged to $51.6 million, or $1.75 per share, versus $38.6 million, or $1.31 per share, in the year-earlier period. Its revenue climbed 15% to $571.5 million, while same-store sales gained 4.9%. However, analysts expected earnings of $1.74 per share on revenue of $574.6 million. Panera Bread shares closed at $162.97 yesterday.