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Panera Bread

National chain of bread and sandwich shops.

Headquarters: 3630 S. Geyser Road, Suite 100
St. Louis, MO 63127
Employees: 50,000+
CEO: Ronald Shaich
Stock Symbol: PNRA

Website: http://www.panerabread.com

Career Site

Panera Bread is a national chain of bakery and sandwich shops. There are currently 1,972 bakery-cafes in 46 states and Ontario under the names Panera Bread, Saint Louis Bread Co. and Paradise Bakery & Cafe. Over half of locations are franchise operated.

Panera is known for making fresh bread daily, sandwiches, soups and salads in a friendly, upscale setting. The company uses antibiotic free chicken, select organic and all-natural ingredients. They also offer a broad range of coffees and pastries. The company has year-round favorites on its menu along with seasonal items that are introduced. Most Panera locations offer free Wi-Fi Internet access, encouraging customers to bring their laptops to the cafes.

Panera is known for its Pick Two menu which lets customers choose a combo off the menu consisting of half sandwich, half salad or cup of soup.

Some of the breads made fresh at Panera include Asiago Cheese, Ciabatta, Focaccia, Sourdough and Tomato Basil. The company donates any remaining baked goods at the end of the day to community organizations.

The company operates 24 fresh dough facilities in the U.S. and Canada that supply dough to restaurants.

In fiscal 2015, Panera reported revenues of $2.68 billion, up from $2.53 billion the previous year. Net income was $149 million.

For 2016, the company expects to open 90-100 new stores.

Average weekly sales for Company-owned new bakery-cafes for 2015 was $45,357. Average weekly sales for franchise-operated new bakery-cafes for 2015 was $48,711.

Panera is updating many of its stores to what it calls Panera 2.0, technologies to improve customer service and speed including ordering from tables or kiosks and Rapid Pick-up from online orders.

In 2015, Panera introduced Asian-inspired broth bowls featuring noodles or quinoa.

History

Panera Bread originally began in 1981 as Au Bon Pain Co., Inc. Founded by Louis Kane and Ron Shaich, the company prospered along the east coast of the United States and internationally throughout the 1980s and 1990s and became the dominant operator within the bakery-cafe category.

In 1993, Au Bon Pain Co., Inc. purchased Saint Louis Bread Company, a chain of 20 bakery-cafes located in the St. Louis area. The company then managed a comprehensive re-staging of Saint Louis Bread Co. Between 1993 and 1997 average unit volumes increased by 75%. Ultimately the concept's name was changed to Panera Bread.

By 1997, it was clear that Panera Bread had the potential to become one of the leading brands in the nation. In order for Panera Bread to reach its potential, it would require all of the company's financial and management resources.

In May 1999, all of Au Bon Pain Co., Inc.'s business units were sold, with the exception of Panera Bread, and the company was renamed Panera Bread. Since those transactions were completed, the company's stock has grown thirteen-fold and over $1 billion in shareholder value has been created.

In 2007, Panera Bread purchased a majority stake in Paradise Bakery & Café®, a Phoenix-based concept with over 70 locations in 10 states (predominantly in the west and southwest). The Company purchased the balance of Paradise in June 2009.

Panera introduced a new lineup of pastas -- tortellini alfredo, pesto sacchettini, and chicken sorentina pasta -- at stores nationwide in 2013.

Benefits

· Competitive salary
· Incentive plans
· Medical and dental insurance
· Life insurance
· Supplemental life insurance
· Disability insurance (salaried)
· 401(k) plan with company match
· Employee stock purchase plan (discounted stock price)
· Section 125 flexible spending account
· Paid vacation
· Product discounts

Updated April 13, 2016