Word: derrington
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...been the best of times," says Panera founder, chairman and CEO Ron Shaich. In an environment where even McDonald's, once a recession superstar, is reporting negative same-store sales (down 0.6% in November), Panera's continued growth stands out. "I've never seem restaurants this competitive," says Bob Derrington, an analyst at Morgan Keegan and a 30-year veteran of the industry. "It's a flea market out there. For Panera to keep their prices and still succeed like this - it's an astounding achivement." (See the best business deals...
...helped that Panera's paninis were already hot products. "To consumers, Panera isn't just a refueling stop," says Derrington. "It's a treat, and you don't have to pay a ton of money for that experience." For about $6, you can get half a sandwich, soup or salad, and a drink...
...company has to do is repeat the sterling performance in 2010. Panera might not be able to stay out of the price wars forever. "I've never seen so many deals being offered," says Derrington. "They have to stay sharp." And they'll have to do it without Shaich, a highly respected CEO who will relinquish his day-to-day role this spring, though he will stay on as chairman. A transition is in place - company co-COO Bill Moreton will step into the CEO role. "I worry about keeping the concept special," says Shaich. "Is it worth walking across...
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