Panera Bread 2006 Annual Report Download - page 3

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In 2006, we delivered on our growth promise while maintaining—even improving—our track record of great customer experience.
Panera Bread was rated “Excellent” by 58% of the 76,000 consumers surveyed by Sandelman & Associates in 2006, besting 110 other
concepts to reclaim the top spot in this prestigious survey of customer experience. This marks the fifth consecutive year that Panera
has been rated first or second in the Sandelman survey, and the fourth year we have earned the number one spot. We are proud of the
associates of Team Panera who make this happen, year in and year out.
We owe our extraordinary success over the years to our customers’ vote of confidence in the Panera experience. What’s more, we will
owe our future success to their continued confidence in the Panera experience.
What will it take to continue to be touted “Panera Bread: A Front Porch for the New Millennium” in 2007 and beyond, as one industry
watcher dubbed us in 2006? Part of the answer is continuing our strong performance of what we’ve excelled at over the years—
executing well on what we call “PEGS,” or Product, Environment, and Great Service. We’re hiring people we trust to steward our
brand and build positive relationships with our customers, and we’re training them to carry forth our mission and our values. We’re
also taking a look at our processes, and developing new ways to grow our team members’ appreciation for and commitment to our
vision.
Another part of the answer to our future success is orchestrating appropriate evolutions to our concept. This year, we have already
launched several internal processes to review and evolve our understanding of what our customers want today and will want
tomorrow, and how Panera Bread can cater to these customers. Our greatest hope for Panera is that it will continue to be relevant and
desirable to customers in a changing world, and this means we at Team Panera are relentlessly searching for new ways to be a better
choice than the many other alternatives our customers have.
THANK YOU
Before I close, I’d like to extend a special thank you to our Board of Directors, to our support center team members, and in particular,
to our operators, joint venture partners, and franchisees. Your extraordinary service and commitment to Panera Bread drives our
success year in and year out, and for that, I offer my deep appreciation. Thank you.
Finally, to our Shareholders, thank you for believing in and supporting our vision for Panera Bread. We hope you’ll continue to have
confidence in the strength of Panera Bread in 2007 and in the years of growth to come, and the talent in Team Panera that faithfully
stewards this brand each day.
Sincerely,
Ronald M. Shaich
Chairman and Chief Executive Officer