Introduction
If you analyzed the restaurant industry using Porter's five forces model, you wouldn't be favorably impressed. Three of the threats to profitability—the threat of substitutes, the threat of new entrants, and rivalry among existing firms—are high. Despite these threats to industry profitability, one restaurant chain is moving forward in a very positive direction. St. Louis–based Panera Bread Company, a chain of specialty bakery-cafés, has grown from 602 company owned and franchised units in 2003 to over 877 today. In 2005 alone, its sales increased by 33.6% and its net income increased by 35.2%. So what's Panera's secret? How is it that this company flourishes while its industry as a whole is experiencing difficulty? As we'll see, Panera Bread's success can be explained in two words: positioning and execution.

Changing Consumer Tastes

Panera's roots go back to 1981, when it was founded under the name of Au Bon Pain Co. and consisted of three Au Bon Pain......

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Title: Panera Bread
Approximate Word Count: 827
Approximate Pages: 4 (250 words per double-spaced page)

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1. Panera Bread
   

   panera bread. Panera Bread Company 0. INTRODUCTION The Panera Bread legacy
   began in 1981 as Au Bon Pain Co., Inc. Founded by Louis ... ...

2. Panera Bread
   

   Panera Bread. ... Panera Bread’s is trying to provide premium specialty bakery
   and café experience to urban workers and suburban dwellers. ... ...

3. Case Analysis Panera Bread
   

   Case Analysis Panera Bread. Panera Bread's sales growth ... level, and wage levels.
   Climate can have a dramatic effect on Panera Bread. ... ...

4. Panera Bread
   

   Panera Bread. Introduction ... As we'll see, Panera Bread's success can be
   explained in two words: positioning and execution. Changing ... ...

5. Panera Bread Swot
   

   Panera Bread SWOT. ... According to exhibit 2 (Dess pg. 667) Panera Bread in 2002 ranked
   with the highest three-year sales growth rates as of June 2004. ... ...