Panera Bread 2015 Annual Report Download - page 34

Download and view the complete annual report

Please find page 34 of the 2015 Panera Bread annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 96

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96

24
Bakery-cafe Composition
The following table sets forth certain bakery-cafe data relating to Company-owned and franchise-operated bakery-cafes for the
periods indicated:
For the fiscal year ended
December 29,
2015
December 30,
2014
December 31,
2013
Number of bakery-cafes:
Company-owned:
Beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 925 867 809
Bakery-cafes opened . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57 65 63
Bakery-cafes closed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6)(7)(6)
Bakery-cafes acquired from franchisees (1) . . . . . . . . . . . . . . . . . . . . . . — — 1
Bakery-cafes refranchised (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (75)— —
End of period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 901 925 867
Franchise-operated:
Beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 955 910 843
Bakery-cafes opened . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55 49 70
Bakery-cafes closed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (14)(4)(2)
Bakery-cafes acquired by Company (1) . . . . . . . . . . . . . . . . . . . . . . . . . — — (1)
Bakery-cafes refranchised (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75 — —
End of period. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,071 955 910
System-wide:
Beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,880 1,777 1,652
Bakery-cafes opened . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 114 133
Bakery-cafes closed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (20)(11)(8)
End of period (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,972 1,880 1,777
(1) In April 2013, we acquired one bakery-cafe from a Florida franchisee.
(2) In March 2015, we refranchised one bakery-cafe to an existing franchisee. In July 2015, we refranchised 29 bakery-cafes to
an existing franchisee. In October 2015, we refranchised 45 bakery-cafes to a new franchisee.
(3) Excluded from the number of total bakery-cafes were 28, 22, and six catering-only units, referred to as delivery hubs, as of
the fiscal years ended December 29, 2015, December 30, 2014, and December 31, 2013, respectively.
Comparable Net Bakery-cafe Sales
Comparable net bakery-cafe sales growth for the periods indicated was as follows:
For the fiscal year ended
December 29,
2015
December 30,
2014 (1)
December 31,
2013 (2)
Company-owned . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.0% 1.4% 2.6%
Franchise-operated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.0% 0.9% 2.0%
System-wide . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.9% 1.1% 2.3%
(1) Comparable net bakery-cafe sales for fiscal 2014 reflects a calendar basis comparison. We believe that calendar basis comparable
net bakery-cafe sales percentages better reflects the performance of the business as it eliminates the impact of the extra week
in fiscal 2013 and compares consistent calendar weeks.
(2) Comparable net bakery-cafe sales for fiscal 2013 adjusted to reflect a comparative 53 week period in fiscal 2012 (52 weeks
in fiscal 2012 plus week one of fiscal 2013).