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Byline: Marie Beerens
Panera Bread is possibly forming the right side of a base. The stock hit a record high of 66.49 on June 17 and declined 27% to the bottom of the base. It crossed above its 10-week moving average in early October. After Tuesday's close, it reported a 32% rise in third-quarter earnings per share and boosted its fourth-quarter EPS target.
The company operates 773 Panera Bread Co. and St. Louis Bread Co. bakery-cafes in 35 states. It recently acquired 23 locations from a franchisee in Indiana.
The bakery has logged 13 straight quarters of double-digit earnings-per-share and sales growth. It improved from a net loss in 1999 to a profit of $1.25 a ...