Stock ticker symbol: PNRA
Exchange where traded: NASDAQ Stock Market, Inc.
Headquarters Address: 3630 S. Geyer Road, St. Louis, MO 63127 Tel: (314) 984-1000
I Company Overview
Panera Bread Company is one of the largest food service companies in the United States which owns, operates, and franchises retail bakery-cafes with 1,453 locations in 40 states, the District of Columbia, and Ontario, Canada. Having approximately 60 customers a day at the first bakery-café, the company has grown to currently serve nearly six million customers a week. As of December 28, 2010, it operated 662 Company-owned bakery-cafes located throughout the United States and in Ontario, Canada and 791 franchise-operated bakery-cafes located in the United States under the Panera Bread®, Saint Louis Bread Co.® and Paradise Bakery & Café® names. The company also operates 26 fresh dough facilities to supply fresh dough and other products daily to most company-owned and franchise-operated bakery-cafes. In the fiscal year ended December 28, 2010, the company revenues were $1,542.5 million, consisting of $1,321.2 million of Company-owned net bakery-cafe sales, $86.2 million of franchise royalties and fees, and $135.1 million of fresh dough and other product sales to franchisees. Corporate history
The Panera Bread® is a Delaware corporation founded by Louis Kane and Ron Shaich. It was originally organized as a Massachusetts corporation under the name Au Bon Pain Co., Inc. in March 1981 and reincorporated in Delaware in June 1988. In December 1993, the company purchased Saint Louis Bread Company by which the average unit volumes increased 75% between 1993 and 1997. 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 2005, Panera ranked 37th on BusinessWeek's list of "Hot Growth Companies". According to the report by The Wall St. Journal's Shareholder Scorecard in 2006, Panera Bread was recognized as the top performer in the restaurant category for one-, five- and ten-year returns to shareholders. 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. Beginning in 2008, Panera Bread expanded into Canada with Richmond Hill and Mississauga, both in the Toronto area. In May 2010, Ron Shaich transitioned to the role of Executive Chairman of the Board and Bill Moreton, who had previously served as the company’s Executive Vice President and Co-Chief Operating Officer, was named Chief Executive Officer and President and to the Board of Directors. Organization
As of December 28, 2010, the company had approximately 15,900 full-time associates (defined as associates who average 25 hours or more per week), of whom approximately 800 were employed in general or administrative functions, approximately 1,200 were employed in fresh dough facility operations, and approximately 13,900 were employed in bakery-cafe operations as bakers, managers, and associates. There were also approximately 9,700 part-time hourly associates at the bakery-cafes. The board of directors consists of 8 people. Ronald M. Shaich is Executive Chairman of the Board from May 2010 and he is also the co-founder. William W. Moreton was named Chief Executive Officer and President of Panera Bread and to the Board of Directors in May 2010. Domenic Colasacco is Lead Independent Director since March 2008, Director since March 2000. Charles J. Chapman, III, Fred Foulkes, Larry Franklin and Thomas E. Lynch are all directors. George E. Kane became Emeritus Director in May 2004. There are 14 people in the upper...