Panera (PNRA) CEO Says 'Panera Experience' Large Factor in Growth - Cramer

Jim Cramer made a call on Panera Bread (NASDAQ: PNRA) after sitting with CEO Ronald Shaich. Shares have risen 51% since Cramer recommended them last July 23. Shares of Panera jumped 7.3% yesterday after the company raised their Q409 EPS guidance to $0.94 - $0.95, versus the consensus of $0.68. Shares of Panera are down 0.49% today to $73.05.

Shaich attributed growth in Panera to the totality in the Panera Experience: great food, served by good people, in a positive environment.

The CEO said that due to dismal real estate prices and construction costs down 20%, now was the time to grow. He said the company is going to re-double the emphasis on vegetarian, soup, and salad choices, stating that the customer wants food that they respect.

Shaich highlighted that Panera is growing beyond just a lunch stop, as the company is seeing growth in the breakfast environment as well as store becoming a gathering place in the evenings. Panera runs the largest free Wi-Fi network in the U.S.

Cramer maintains a Buy on Panera.

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