Panera Bread: Announces New Share Repurchase Program

St. Louis / MO. (pbc) Panera Bread Company announced that its Board of Directors has approved a new three year share repurchase program of up to 600 million USD. This new program will replace the existing program which was scheduled to expire on August 23, 2015 and has been terminated by the Board of Directors in connection with approving the new program. The repurchases will be effected from time to time on the open market or in privately negotiated transactions or under a Rule 10b5-1 Plan. The share repurchase program and the Board´s authorization of the program may be modified, suspended, or discontinued at any time. Ron Shaich, founder, Chairman and CEO: «We continue to look for opportunities to deploy our capital to drive shareholder returns. While investing in our core business remains our number one priority, the Board´s willingness to extend and refresh the repurchase program is a vote of confidence on the growth potential of Panera and its ability to generate long-term profit growth and appropriate returns for our shareholders».

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