FINANCE

Panera Bread 3Q Profit Up

BY CSA STAFF

St. Louis Panera Bread Co. said Tuesday its net income grew 15% in the third quarter on a bump in revenue as price increases offset a drop in the number of transactions.

The company earned $13.7 million in the three-month period ending Sept. 23, compared to $11.9 million in the same period last year.

Revenue rose 15% in the quarter to $315.2 million, up from $273.2 million in the same period last year.

Panera said same-store sales rose 3.3% in the quarter, helped by a 6.5% boost in prices compared to the same period last year. The increase helped buffer a 3.2% drop in transaction growth.

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Ross named vp of retail for Kellwood

BY CSA STAFF

NEW YORK Bob Ross was named to the position of vp of retail for Kellwood Company, according to Michael Kramer, ceo of Kellwood. In this new role, Ross will be responsible for the retail operations of the Kellwood portfolio of brands, and the retail store expansion with a particular focus on Vince.

 Most recently, Ross served as vp of retail at Lacoste, where in 12 years he developed and implemented a retail strategy that resulted in exceptional growth in retail locations and sales. Prior to that, Ross was a regional manager at Britches of Georgetowne following 12 years with Lord & Taylor where he held positions in merchandising and in-store operations. There he eventually ascended to the position of general manager.

“We are very excited to have Bob join the Kellwood family,” Kramer stated. “Bob’s strong retail background and industry expertise will be key to positioning Kellwood brands for future growth in this important channel.”

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New Balance names new creative directors

BY CSA STAFF

BOSTON New Balance has named Savania Davies-Keiller and Roberto Crivello, founders and designers of the high-tech fashion brand DDCLAB, as creative directors for New Balance.

“Our main goal with New Balance Lifestyle is to deliver shoes that can be worn to support an active lifestyle with a focus on design material and color. For example,” says Davies-Keiller, “fall ’08 includes fabrics such as aluminum coated rip-stop and steel infused nylons, soft gloved leathers and unique meshes.”

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