Panera Bread is readying a multimillion-dollar turnaround strategy, and its chief executive wants less iceberg lettuce in the mix. 🔗 https://on.wsj.com/3LWWXt3 The St. Louis-based chain known for its sandwiches and salads is overhauling its menu, operations and decor as part of an effort to reverse years of stagnant sales growth. Among the changes: Many salads will again feature romaine lettuce, after Panera last year swapped in lower-cost iceberg greens in some of its mixes. “No one likes iceberg,” said Paul Carbone, CEO of Panera Brands, parent company to Panera Bread, Einstein Bros. Brands and Caribou Coffee. Panera, which is part of Panera Brands, helped pioneer the fast-casual restaurant model but has stumbled during the past decade. Competition from Chipotle, Cava and other restaurant chains grew, while Panera fell out of fashion with many consumers. Cutting customer favorites like black-bean soup didn’t help, and some new items like flatbread pizza didn’t catch on. The company said Tuesday that it aimed to boost Panera’s annual sales to $7 billion by 2028, from around $6 billion currently, by drawing more customers and adding restaurants. Panera’s controlling shareholder—investment firm JAB—and chain franchisees have committed to spending tens of millions of dollars on the new multiyear turnaround effort, Carbone said. “The guest doesn’t dislike us, they just have forgotten about us,” Carbone said.
Tom Kreiner
6mo
For, gee what feels like half a lifetime, my family, and I enjoyed the bear claws, the parfaits, the great combination lunches… Until, of course, the portions shrank while the prices increased, as we watched the value to the consumer disappear. And then, the fun things like the $.99 pastries when you purchased a lunch disappeared as well. We stopped going to Panera and I doubt Panera will ever bring us back because there are other great places that have filled that space in our lives.
Chas Bollow
6mo
Nice to see they are trying to improve rather than selling out like Boston Market and Red Lobster.
Michael Ritchie
6mo
Someone needs to tell Paul Carbone that it's not the fresh iceberg lettuce but selling me slightly upgraded Cambells Soup from a bag for +$15 that may be the problem.
Buffie R.
6mo
Paul Carbone is not the iceberg that's the issue or salads in general. It's the overpriced food for one... then the sandwiches that have slivers of meat on them. I know you are Panera Bread and known for your bread, but your sandwiches shouldn't be all about the bread...where's the meat? The prices you set don't align with what you are getting
too pricey in my option for soup and sandwiches even though they are good -
Way overdue. Panera has been on a slide for years. Dirty stores. Food quality slippage, etc...
Wendy Novotny
6mo
❤️ Panera Pastries with Almond filling and sprinkled with thin sliced almonds are uniquely good and worth the occasional visit.
John West
6mo
The two I visit most often have already gone through the change. I’m liking the new look and feel.
Panera needs to return to having the individual locations bake the bagels from fresh dough versus frozen or half baked off site. If you can’t make a good bagel, you can’t bring back the customers.