Panera Bread 2012 Annual Report Download - page 33

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25
The following table summarizes the composition of comparable Company-owned net bakery-cafe sales growth for the periods
indicated:
For the fiscal year ended
December 25,
2012 December 27,
2011 December 28,
2010
Price . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.0% 2.9% 2.0%
Mix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.7% 0.2% 3.4%
Average check . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.7% 3.1% 5.4%
Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.8% 1.8% 2.1%
Company-owned comparable net bakery-cafe sales growth. . . . . . . . . 6.5% 4.9% 7.5%
Results of Operations
Revenues
The following table summarizes revenues for the periods indicated (dollars in thousands):
For the fiscal year ended
December 25,
2012 December 27,
2011 December 28,
2010 % Change
in 2012 % Change
in 2011
Bakery-cafe sales, net . . . . . . . . . . . . . . . . . . . $ 1,879,280 $ 1,592,951 $ 1,321,162 18.0% 20.6%
Franchise royalties and fees . . . . . . . . . . . . . . 102,076 92,793 86,195 10.0% 7.7%
Fresh dough and other product sales to
franchisees. . . . . . . . . . . . . . . . . . . . . . . . . . . . 148,701 136,288 135,132 9.1% 0.9%
Total revenue . . . . . . . . . . . . . . . . . . . . . . . $ 2,130,057 $ 1,822,032 $ 1,542,489 16.9% 18.1%
System-wide average weekly net sales . . . . . . $ 46,676 $ 44,313 $ 42,852 5.3% 3.4%
The growth in total revenues in fiscal 2012 compared to the prior year was primarily due to the opening of 123 new bakery-cafes
system-wide in fiscal 2012 and to the 5.7 percent increase in system-wide comparable net bakery-cafe sales in fiscal 2012, partially
offset by the closure of 12 bakery-cafes system-wide in fiscal 2012.
The growth in total revenues in fiscal 2011 compared to the prior year was primarily due to the opening of 112 new bakery-cafes
system-wide in fiscal 2011 and to the 4.0 percent increase in system-wide comparable net bakery-cafe sales in fiscal 2011, partially
offset by the closure of 24 bakery-cafes system-wide in fiscal 2011.
Bakery-cafe sales, net
The following table summarizes net bakery-cafe sales for the periods indicated (dollars in thousands):
For the fiscal year ended
December 25,
2012 December 27,
2011 December 28,
2010 % Change
in 2012 % Change
in 2011
Bakery-cafe sales, net . . . . . . . . . . . . . . . . . . . $ 1,879,280 $ 1,592,951 $ 1,321,162 18.0% 20.6%
As a percentage of total revenue. . . . . . . . . . . 88.2% 87.4% 85.7%
Company-owned average weekly net sales. . . $ 46,836 $ 44,071 $ 41,899 6.3% 5.2%
Company-owned number of operating weeks 40,125 36,140 31,532 11.0% 14.6%
The increase in net bakery-cafe sales in fiscal 2012 compared to the prior fiscal year was primarily due to the opening of 59 new
Company-owned bakery-cafes, the acquisition of 16 franchise-operated bakery-cafes, and the 6.5 percent increase in comparable
Company-owned net bakery-cafe sales in fiscal 2012, partially offset by the closure of six Company-owned bakery-cafes.