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Headquarters:
6710 Clayton Road Website: http://www.panerabread.com Panera Bread is a fast-growing chain of bakery and sandwich shops. There are currently 1,230 bakery-cafes nationwide. Among these locations, 532 are company-owned and 698 are franchised. The company opened 169 new locations in 2007. It expects to open 40 company-owned stores and 60 franchised stores in 2008. Panera is known for making fresh bread daily, sandwiches, soups and salads in a friendly, upscale setting. They also offer a broad range of coffees and pastries. Many Panera locations offer free Wi-Fi Internet access, encouraging customers to bring their laptops to the cafes. Some of the breads made fresh at Panera include Asiago Cheese, Ciabatta, Sourdough and Tomato Basil. The company donates any remaining baked goods at the end of the day to community organizations. Panera also holds a 51% interest in Paradise Bakery & Café, Inc., owner and franchisor of 63 bakery-cafes as of December 25, 2007. In fiscal 2007, Panera reported revenues of $1.06 billion, a 29% increase. Net income was $57 million. Average weekly sales per location are about $36,000-38,000. 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. Panera Bread has been recognized as one of Business Week's "100 Hot Growth Companies". Benefits · Competitive salary Updated February 27, 2008 |