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Wednesday, Oct 24
2012, 10:45 AM
The secret of Panera Bread's (PNRA +6%) success in Q3 (I, II) compared to rivals: 1) The firm's...
The secret of Panera Bread's (PNRA +6%) success in Q3 (I, II) compared to rivals: 1) The firm's menu mix contributed to results as peers such as Chipotle and Buffalo Wild Wings were stung by higher food costs while Panera's bakery items held relatively stable. 2) Traffic was steady as the chain holds a dominant position in its category with no clear direct competitor. 3) Management pushed all the right buttons with their pricing action, seeing the average check rise without much pushback from consumers. (PNRA earnings CC)