Panera Bread 2013 Annual Report Download - page 15

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Trademark Office. We have also registered some of our trademarks in a number of foreign countries. In addition, we have
registered and maintain numerous Internet domain names.
Corporate History and Additional Information
We are a Delaware corporation. Our principal offices are located at 3630 South Geyer Road, Suite 100, St. Louis, Missouri, 63127,
and our telephone number is [phone].
We are subject to the informational requirements of the Exchange Act, and, accordingly, we file reports, proxy statements, and
other information with the SEC. Such reports, proxy statements, and other information are publicly available and can be read and
copied at the reference facilities maintained by the SEC at the Public Reference Room, 100 F Street, NE, Room 1580, Washington,
D.C., 20549. Information regarding the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-
SEC-0330. The SEC maintains a web site (www.sec.gov) that contains reports, proxy and information statements, and other
information regarding issuers that file electronically with the SEC.
Our Internet address is www.panerabread.com. We make available at this address, free of charge, press releases, annual reports
on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished
pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable after electronically filing such material
with, or furnishing it to, the SEC. In addition, we provide periodic investor relations updates and our corporate governance
materials at our Internet address. The information contained on, or that can be accessed through, our website is not part of this
Annual Report on Form 10-K. We have included our website address solely as an inactive textual reference.
ITEM 1A. RISK FACTORS
The following risk factors could materially affect our business, consolidated financial condition and results of operations. The
risks and uncertainties described below are those that we have identified as material, but are not the only risks and uncertainties
we face. Our business is also subject to general risks and uncertainties that affect many other companies, including overall economic
and industry conditions. Additional risks and uncertainties not currently known to us or that we currently believe are not material
also may impair our business, consolidated financial condition and results of operations.
Disruptions in our bakery-cafe supply chain could adversely affect our profitability and operating results.
Our Company-owned and franchise-operated bakery-cafes depend on frequent deliveries of ingredients and other products. We
rely on one supplier to deliver the majority of our non-dough ingredients and other products to our bakery-cafes two or three times
per week, and we supply our bakery-cafes with fresh dough and certain other products on a daily basis. These frequent deliveries
are susceptible to supply volatility as a result of adverse weather conditions, and any supply shortages or interruptions could
adversely impact our operations. Additionally, we currently depend on a limited number of suppliers for several of our proteins,
such as selected proteins raised without antibiotics, which are sold in most Company-owned and franchise-operated bakery-cafes.
As there are few producers of proteins raised without antibiotics, it may be difficult or more costly for us to find alternative
suppliers, if necessary.
We believe that we have adequate sources of supply for our ingredients and products to support our bakery-cafe operations or, if
necessary, we could make menu adjustments to address material supply issues. In addition, we frequently enter into annual and
multi-year contracts for ingredients in order to decrease the risks of supply interruptions and cost fluctuation. However, there are
many factors which could cause shortages or interruptions in the supply of our ingredients and products, including adverse weather,
unanticipated demand, labor or distribution problems, food safety issues by our suppliers or distributors, cost, and the financial
health of our suppliers and distributors. Any disruptions in our bakery-cafe supply chain could adversely affect our profitability
and operating results.
The market in which we compete is highly competitive, and we may not be able to compete effectively.
The restaurant industry is highly competitive with respect to location, customer service, price, value, food quality, ambiance, and
overall customer experience. We compete with national, regional, and locally owned food service companies, including specialty
food, casual dining and quick-service restaurants, bakeries, and restaurant retailers. Many of our competitors or potential
competitors have greater financial and other resources than we do, which may allow them to react to changes in pricing, marketing,
and trends in the restaurant industry more quickly or effectively than we can. We also compete with other restaurant chains and
other retail businesses for quality site locations and hourly employees. If we are unable to successfully compete in our markets,
we may be unable to sustain or increase our revenues and profitability.