Report
R.J. Hottovy
EUR 147.86 For Business Accounts Only

Panera's 2.0 enhancements bolster its competitive position and unlock new growth opportunities.

Much of the commentary from restaurant management teams during second-quarter reporting season has focused on slowing industry traffic, but Panera bucked the trend with company-owned comps of 4.2% (6.6% on two-year basis). We believe these trends--which are slowing modestly heading into the third quarter with quarter-to-date comps of 3.1%, still well ahead of industry averages--indicate that Panera has developed one of the most effective blueprints for what a modern restaurant concept should loo...
Underlying
Panera Bread Co.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
R.J. Hottovy

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