Panera Bread Expands Its New York Footprint With Manhattan Store
Opens Third Manhattan Bakery-Cafe With More to Come
New York, NY (RestaurantNews.com) Continuing its expansion into Manhattan, Panera Bread (NASDAQ: PNRA) today announced the opening of its third bakery-cafe in the area. The new bakery-cafe is located on Fifth Avenue between 39th and 40th Streets and follows on the success of the company’s first two Manhattan bakery-cafe openings in February and June 2012.
The first Manhattan bakery-cafe opened at 330 Seventh Avenue at 29th Street and the second on East 86th Street. In the coming months, Panera Bread plans to open an additional bakery-cafe located in Union Square.
“We are delighted to expand our footprint in Manhattan,” said Tom Kelleher, Director of Operations. “While New York City consumers have their pick of options, we believe that the Panera experience — high-quality food rooted in hand-crafted, artisan bread, served in a warm and welcoming environment by people who care — will distinguish Panera from the rest. We look forward to joining additional Manhattan neighborhoods over the coming months.”
Panera Bread currently operates more than 90 bakery-cafes in the Tri-State area and has long been a preferred destination of the New York commuter crowd. In 2010 Panera Bread was ranked highest in customer satisfaction among Quick Service Restaurants in New York by J.D. Power and Associates.
About the Fifth Avenue Bakery-Cafe
The Fifth Avenue bakery-cafe features 128 seats and the location will include all of Panera’s signature amenities including a relaxing, comfortable atmosphere and free WiFi, as well as catering and freshly baked goods baked on-site each night by artisan bakers. Panera’s loyalty program MyPanera® will also be offered so that Manhattan customers can enjoy rewards including complimentary products, invitations to special events and access to special recipes and communications. All of the Manhattan bakery-cafes will support City Harvest through the Company’s Day-End Dough-Nation™ program and the Community Breadbox™ program. For more information on these initiatives, please visit www.panerabread.com/about/community.
About Panera Bread Company
Panera Bread Company owns and franchises 1,562 bakery-cafes as of March 27, 2012 under the Panera Bread®, Saint Louis Bread Co. ® and Paradise Bakery & Cafe® names. We feature high quality, reasonably priced food in a warm, inviting and comfortable environment. With our identity rooted in handcrafted, fresh-baked, artisan bread, we are committed to providing great tasting, quality food that people can trust. Nearly all of our bakery-cafes have a menu highlighted by antibiotic free chicken, whole grain bread and select organic and all natural ingredients, with zero grams of artificial trans fat per serving, which provide flavorful, wholesome offerings. Our menu includes a wide variety of year-round favorites complemented by new items introduced seasonally with the goal of creating new standards in everyday food choices. In neighborhoods across this country and in Ontario, Canada, our customers enjoy our warm and welcoming environment featuring comfortable gathering areas, relaxing decor and free internet access. Our bakery-cafes routinely donate bread and baked goods to community organizations in need. Additional information is available on the Company’s website, http://www.panerabread.com.
Matters discussed in this news release and in our public disclosures, whether written or oral, relating to future events or our future performance, including any discussion, express or implied, on the number and timing of additional bakery-cafes to be opened in Manhattan and their future operating results, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are often identified by the words “believe,” “positioned,” “estimate,” “project,” “target,” “plan,” “goal,” “assume,” “continue,” “intend,” “expect,” “future,” “anticipate,” and other similar expressions, whether in the negative or the affirmative, that are not statements of historical fact. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Our actual results and timing of certain events could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, but not limited to, those discussed from time to time in our reports filed with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended December 28, 2010 and our quarterly reports on Form 10-Q. All forward-looking statements and the internal projections and beliefs upon which we base our expectations included in this release are made only as of the date of this release and may change. While we may elect to update forward-looking statements at some point in the future, we expressly disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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