Panera Bread 2005 Annual Report Download - page 25

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19
The following table sets forth certain bakery-cafe data relating to Company-owned and franchise-operated bakery-cafes:
For the Fiscal Year Ended
December 27,
2005
December 25,
2004
December 27,
2003
Number of bakery-cafes:
Company-owned:
Beginning of period ........................................................................................................ 226 173 132
Bakery-cafes opened....................................................................................................... 66 54 29
Bakery-cafes closed ........................................................................................................ (2) — (3)
Acquired from franchisee(1)........................................................................................... 21 1 15
Transfer to franchisee(2)................................................................................................. — (2) —
End of period ................................................................................................................ 311 226 173
Franchise-operated:
Beginning of period ........................................................................................................ 515 429 346
Bakery-cafes opened....................................................................................................... 73 89 102
Bakery-cafes closed ........................................................................................................ (1) (4) (4)
Sold to Company(1)........................................................................................................ (21) (1) (15)
Transfer from Company(2) ............................................................................................. — 2 —
End of period ................................................................................................................ 566 515 429
System-wide:
Beginning of period ........................................................................................................ 741 602 478
Bakery-cafes opened....................................................................................................... 139 143 131
Bakery-cafes closed ........................................................................................................ (3) (4) (7)
End of period ................................................................................................................ 877 741 602
____________
(1) In November 2005, we acquired 21 operating bakery-cafes and the area development rights from a franchisee in certain markets in
the Indiana area. In October 2004, we acquired one operating bakery-cafe in the Dallas, Texas market from a franchisee. During
fiscal 2003, we acquired 15 operating bakery-cafes and the area development rights from franchisees in the Louisville/Lexington,
Kentucky; Dallas, Texas; Toledo, Ohio; and Ann Arbor, Michigan markets.
(2) In October 2004, we transferred two operating bakery-cafes to a new franchisee in the acquisition of the minority interest. See
Note 3 of our Consolidated Financial Statements for further information.
Increases in comparable bakery-cafe sales for the fiscal year ended December 27, 2005, December 25, 2004, and December 27,
2003 were as follows:
For the Fiscal Year Ended
December 27,
2005
December 25,
2004
December 27,
2003
Company-owned.................................................................................................................. 7.4% 2.9% 1.7%
Franchised............................................................................................................................ 8.0% 2.6% -0.4%
System-wide......................................................................................................................... 7.8% 2.7% 0.2%
Company-owned comparable bakery-cafe sales increases are based on sales for bakery-cafes that have been in operation and
company-owned for at least 18 months. Franchise-operated comparable bakery-cafe sales increases are based on sales for bakery-cafes
that have been in operation for at least 18 months. Both Company-owned and franchise-operated comparable bakery-cafe sales
exclude closed locations.
Comparable sales during the fiscal year ended December 27, 2005 increased at a higher rate than comparable sales during the
fiscal year ended December 25, 2004 primarily as a result of increased sales of products from our new antibiotic free chicken, sales
from our Via Panera® catering business which began in 2004, sales from strengthened new product development in 2005, in store
execution, and price increases.
Comparable sales during the fiscal year ended December 25, 2004 increased at a higher rate than comparable sales during the
fiscal year ended December 27, 2003 primarily as a result of sales from the roll-out of the Via Panera® catering business which began
in 2004, sales from strengthened new product development in 2004, the implementation of several Company initiatives by the
franchise-operated bakery-cafes in 2004 related to increased staffing, quality, and speed of customer service, and price increases.