Panera Bread 2007 Annual Report Download - page 12

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principally located in regional malls and life style centers, free standing street locations, downtown business
districts, and office buildings, and currently operate in 10 states that are principally in different markets than Panera
bakery-cafes. Paradise has been expanding the number of bakery-cafes on a limited basis and opened 21 new
bakery-cafes system-wide (10 company-owned and 11 franchise-operated bakery-cafes) and closed one company-
owned and one franchise-operated bakery-cafe since the February 1, 2007 acquisition. Additionally, Paradise
opened one additional franchise-operated commissary in fiscal year 2007.
We operate as three business segments: the Company bakery-cafe operations segment, the franchise
operations segment, and the fresh dough operations segment. See Note 19 of our consolidated financial statements
for segment information. As of December 25, 2007, our Company bakery-cafe operations segment consisted of
532 Company-owned bakery-cafes, all located in the United States. As of December 25, 2007, our fresh dough
operations segment, which supplies fresh dough items daily to most Company-owned and franchise-operated
bakery-cafes, consisted of 23 fresh dough facilities (20 Company-owned and three franchise-operated). Our
revenues were $1,066.7 million for the fiscal year ended December 25, 2007, consisting of $894.9 million of
bakery-cafe sales, $67.2 million of franchise royalties and fees, and $104.6 million of fresh dough sales to
franchisees. Franchise-operated bakery-cafe sales were $1,376.4 million for the fiscal year ended December 25,
2007.
The following table sets forth certain bakery-cafe data relating to Company-owned and franchise-operated
bakery-cafes for the periods indicated:
December 25,
2007
December 26,
2006
December 27,
2005
For the Fiscal Year Ended
Number of bakery-cafes:
Company-owned:
Beginning of period ........................ 391 311 226
Bakery-cafes opened ....................... 89 70 66
Bakery-cafes closed ........................ (5) (3) (2)
Bakery-cafes acquired from franchisees(1) . . . .... 36 13 21
Bakery-cafes acquired(2) .................... 22 — —
Bakery-cafe sold to a franchisee(3) ............. (1) — —
End of period(4) ......................... 532 391 311
Franchise-operated:
Beginning of period ........................ 636 566 515
Bakery-cafes opened ....................... 80 85 73
Bakery-cafes closed ........................ (5) (2) (1)
Bakery-cafes sold to Company(1) .............. (36) (13) (21)
Bakery-cafes acquired(2) .................... 22 — —
Bakery-cafe purchased from Company(3) ........ 1 — —
End of period(4) ......................... 698 636 566
System-wide:
Beginning of period ........................ 1,027 877 741
Bakery-cafes opened ....................... 169 155 139
Bakery-cafes closed ........................ (10) (5) (3)
Bakery-cafes acquired(2) .................... 44 — —
End of period(4) ......................... 1,230 1,027 877
(1) In June 2007, we acquired 32 bakery-cafes and the area development rights from franchisees in certain markets
in Illinois and Minnesota. In February 2007, we acquired four bakery-cafes, as well as two bakery-cafes still
2