Panera Bread Franchise Rises To Occasion
Posted on: 13/09/2006
Panera Bread franchise reports system-wide comparable bakery-cafe sales increased 1.3% for the five weeks ended August 29, 2006.
Panera Bread Company today reported that system-wide comparable bakery-cafe sales increased 1.3% for the five weeks ended August 29, 2006. The Company today also adjusted its third quarter 2006 system-wide comparable bakery-cafe sales growth target to 2% to 3% from 3% to 4%.
Company-owned comparable bakery-cafe sales increases are based on sales for bakery-cafes that have been in operation and Company-owned for at least 18 months. Franchise-operated comparable bakery-cafe sales increases are based on sales for franchise bakery-cafes that have been in operation for at least 18 months. Both Company-owned and franchise-operated comparable bakery-cafe sales exclude closed locations.
Included above are franchised and system-wide comparable bakery-cafe sales increases. System-wide sales are a non-GAAP financial measure that includes sales at all Company-owned bakery-cafes and franchise-operated bakery-cafes, as reported by franchisees. Management uses system-wide sales information internally in connection with store development decisions, planning, and budgeting analyses. Management believes system-wide sales information is useful in assessing consumer acceptance of the Company's brand and facilitates an understanding of financial performance as the Company's franchisees pay royalties and contribute to advertising pools based on a percentage of their sales.
Panera Bread Company owns and franchises bakery-cafes under the Panera Bread(R) and Saint Louis Bread Co.(R) names. The Company is a leader in the specialty bread/cafe category due to its unique bread combined with a quick, casual dining experience. Additional information is available on the Company's website, panerabread.com.
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