The Market Is Not Giving Panera Enough Credit for Its Ability to Weather Tough Industry Conditions
With comps at company-owned locations continuing to outpace the industry in the third quarter (3.4% growth versus 1%-2% declines across much of the industry) and the company increasingly finding ways to reach customers outside its restaurants (digital ordering, delivery, catering, and at-home products), narrow-moat Panera continues to redefine what a limited-service restaurant concept should look like. More important, with much of the investment for its Panera 2.0 technology and operational impr...
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