St. Louis / MO. (pbc) Panera Bread Company – Chairman and CEO Ron Shaich, Senior Vice President and CFO Jeff Kip, Co-COO William Moreton – said at a presentation in New York City (Bank of America and Merrill Lynch Consumer Conference) and Chicago (Reuters Food and Agriculture Summit), the bakery cafe chain may be well-positioned to make acquisitions, but it has no interest in mergers. As a way to break into the market in Arizona, Panera Bread purchased a bakery in Phoenix. But it has no future plans to make acquisitions.
Moreton: «Our board looks at our cash position at the end of every quarter. We think the best use of our money is to open more bakery cafes». Panera plans to stick to its heritage of selling bakery items, soup, salads, sandwiches and coffee. «We think people in our industry get into a lot of trouble when they start to buy across different segments or different categories that they do not know as well», Moreton said. «That isn´t something that we would see ourselves doing».
Instead, Panera plans to invest in itself by opening 80 to 90 bakery cafes over the next year. «We think there is a great deal of growth left», Moreton said. According to the Co-Chief Operating Officer Panera Bread has been testing drive-through windows in some locations and has been weighing the idea of opening bakeries within «some retailers» (!).
Today, Panera Bread Company owns and franchises 1’252 bakery-cafes under the Panera Bread and Saint Louis Bread names. With its identity rooted in handcrafted, fresh-baked, artisan bread, Panera Bread is committed to providing great tasting, quality food that people can trust. Highlighted by antibiotic free chicken, whole grain bread, select organic and all-natural ingredients and a menu with zero grams added trans fat, Panera´s bakery-cafe selection offers flavorful, wholesome offerings. The menu includes a wide variety of year-round favorites, complemented by new items introduced seasonally with the goal of creating new standards in everyday food choices. In neighborhoods across the United States and in Canada, guests are enjoying Panera´s warm and welcoming environment featuring comfortable gathering areas, relaxing decor, and free internet access provided through a managed WiFi network. At the close of each day, Panera Bread bakery-cafes donate bread and baked goods to community organizations in need. Panera also holds a 51 percent interest in Paradise Bakery + Cafe Inc. (Scottsdale / AZ), owner and franchisor of 73 bakery-cafes as of December 30, 2008.
