When Forbes spoke with Ronald Shaich in 2000, it was skeptical about his prospects of successfully taking soup, salad and sandwiches chain Panera Bread Company much farther than its then revenue of $200 million and 262 locations in 28 states. Fast forward to today and it’s one of the best performing stocks in the restaurant industry and the broader consumer discretionary category, beating out brands as varied as Starbucks, Nike and Nordstrom over the last 10 years. There are now 1,541 locations, half company-owned and half franchised, in 40 states and Canada, and it earned $139 million on revenues of $1.82 billion last year. Analysts expect continued and steady growth.
Shaich, Panera cofounder and chairman, who served as chief executive until 2010 and remains the largest individual shareholder, has been perfecting this recipe since 1981.
