Panera Bread® Takes Manhattan with Opening of 1,500th Store
Opens in Manhattan with Plans for Four Bakery-Cafes in 2012
February 08, 2012 // Franchising.com // ST. LOUIS, MO – Panera Bread (Nasdaq: PNRA) announced the opening of its 1,500th bakery-cafe and its first in Manhattan.
The Company’s new location opened today at 330 Seventh Avenue at 29th Street. As well, Panera Bread announced three other Manhattan bakery-cafes that it expects to open in 2012. They will be located on East 86th Street, Fifth Avenue at 40th Street and Union Square.
“We are thrilled to be celebrating two milestones today – the opening of our 1,500th bakery-cafe, as well as Panera’s entry into the food mecca that is Manhattan,” commented Ron Shaich, Panera Bread Founder and Executive Chairman. “While New York City consumers have their pick of options, we believe that the Panera experience – high-quality food rooted in hand-crafted, artisan bread, served in a warm and welcoming environment by people who care – will distinguish Panera from the rest. Not only are we excited about opening our 1,500th bakery-cafe but we’re pleased about joining four neighborhoods across Manhattan over the coming months.”
New to New Yorkers but a favorite of the commuting set:
Panera Bread currently operates 90 bakery-cafes in the Tri-State area and has long been a preferred destination of the New York commuter crowd. In 2010 Panera Bread was ranked highest in customer satisfaction among Quick Service Restaurants in New York by J.D. Power and Associates.
“Residents of the Tri-State certainly know Panera well as we have, in a sense, surrounded Manhattan with cafes in the other boroughs,” commented Bill Moreton, Panera Bread’s Chief Executive Officer and President. “Many of our fans outside Manhattan, including Long Island, New Jersey and Connecticut, have been asking us to come to Manhattan for quite some time and we’re happy to do that for them today. For New Yorkers who have yet to visit a Panera, we welcome them to visit to our new Seventh Avenue location.”
Panera Bread increasingly operates bakery-cafes in high-density metropolitan areas including Boston, Chicago, Washington, D.C., Los Angeles and Toronto. “Having been successful in some of the country’s largest cities, we felt it was time for us to be in Manhattan,” Shaich said. “We are excited to step onto the world’s biggest and most varied culinary stage. We think New Yorkers are in for a treat.”
In recent years, Panera Bread has been fortunate to be recognized by leading food reviewers and polling organizations including Zagat, Harris Interactive and Sandelman Associates:
- Zagat - Voted Top Rated Facility and Best Salad in the 2011 Fast Food Survey (large chain category); Most Popular and #2 Healthy Options in 2010
- Harris Poll - Named Casual Dining Brand of the Year in 2011 Harris Poll EquiTrend®
- J.D. Power and Associates - Ranked Highest in Customer Satisfaction among Quick Service Restaurants in New York in 2010
- Sandelman & Associates - Ranked #2 among Excellent Large Fast-Food Chains (500 or more units)in its 2011 Quick-Track® Study
- BusinessWeek - Named to BusinessWeek's 2010 list of top 25 "Customer Service Champs"
- QSR – Ranked #1 Fast Casual in 2010 survey of quick casual food concepts
About the Seventh Avenue Bakery-Cafe
The Seventh Avenue bakery-cafe features 102 seats including a mezzanine seating area. The location will include all of Panera’s signature amenities including a relaxing, comfortable atmosphere and free WiFi, as well as catering and freshly baked goods baked on-site each night by artisan bakers. Panera’s loyalty program MyPanera® will also be offered so that Manhattan customers can enjoy rewards including complimentary products, invitations to special events and access to special recipes and communication. All of the Manhattan bakery-cafes will support City Harvest through the Company’s Day-End Dough- NationTM program and the Community BreadboxTM program. For more information on these initiatives, please visit www.panerabread.com/about/community.
About Panera Bread Company
As of September 27, 2011, Panera Bread Company owned and franchised 1,504 bakery-cafes under the Panera Bread®, Saint Louis Bread Co.® and Paradise Bakery & CafeÌ® names. Our bakery-cafes are principally located in suburban, strip mall, and regional mall locations. We feature high quality, reasonably priced food in a warm, inviting, and comfortable environment. With our identity rooted in handcrafted, fresh-baked, artisan bread, we are committed to providing great tasting, quality food that people can trust. Nearly all of our bakery-cafes have a menu highlighted by antibiotic-free chicken, whole grain bread, and select organic and all natural ingredients, with zero grams of artificial trans fat per serving, which provide flavorful, wholesome offerings. Our 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 Ontario, Canada, our customers enjoy our warm and welcoming environment featuring comfortable gathering areas, relaxing decor, and free internet access. Our bakery-cafes routinely donate bread and baked goods to community organizations in need. Additional information is available on our website, http://www.panerabread.com.
Matters discussed in this news release and in our public disclosures, whether written or oral, relating to future events or our future performance, including any discussion, express or implied, on the number and timing of additional bakery-cafes to be opened in Manhattan and their future operating results, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are often identified by the words “believe,” “positioned,” "estimate,” “project,” “target,” “plan,” “goal,” “assume,” “continue,” “intend,” “expect,” “future,” “anticipate,” and other similar expressions, whether in the negative or the affirmative, that are not statements of historical fact. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Our actual results and timing of certain events could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, but not limited to, those discussed from time to time in our reports filed with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended December 28, 2010 and our quarterly reports on Form 10-Q. All forward- looking statements and the internal projections and beliefs upon which we base our expectations included in this release are made only as of the date of this release and may change. While we may elect to update forward-looking statements at some point in the future, we expressly disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
VP Public Relations