Accounting Essay

3028 WordsApr 22, 201313 Pages
Annual Report Project of Panera Bread Company The History of the company Panera Bread (called St. Louis Bread Company in the St. Louis metropolitan area) is a chain of bakery-café quick casual restaurants in the United States and Canada which sells breads, sandwiches, soups, salads, and other bakery items. The Panera Bread legacy 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. It is headquartered in Sunset Hills, Missouri, a suburb of St. Louis. In 1993, Au Bon Pain Co. purchased the Saint Louis Bread Company, which was founded by Ken Rosenthal. 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. 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." earning $38.6 million with a 42.9% increase in profits. As reported 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. The company operates or franchises 1,362 Panera Bread bakery-cafés in 40 states and 17 facilities that deliver fresh dough to the bakery-cafés every day. In 2007, Panera Bread purchased a majority stocks in Paradise Bakery

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