Panera announced a strategic initiative intended to grow its systemwide sales to $7 billion by 2028. Panera had roughly $6 billion in systemwide sales as of 2024, based on Technomic estimations as reported by Restaurant Business.
The plan, which was announced on Tuesday, is called Panera RISE and focuses on menu refreshes, improving its value proposition, serving consumers with warmth and resuming the growth of its store system, according to a press release.
CEO Paul Carbone, who has led the company since January, foreshadowed some of those priorities, particularly those involved in customer service and store modernization, at the Restaurant Finance and Development Conference in Las Vegas earlier this month. Carbone said in the press release that RISE was intended to vault the chain once more into the lead position in the fast casual sector.
The plan will help build momentum at the brand and differentiate from competitors, and the different strategic pillars center around the guest, according to Carbone.
On the menu front, Panera said it will “incorporate abundant, flavorful and distinctive, high-quality ingredients, alongside bakery leadership and a strong beverage portfolio.” The brand will also work to ensure it sells food at price points approachable to a wide range of consumers. Last month, the chain began testing several premium beverages in new categories.
The emphasis on service will come with an investment in front-of-house labor to support hospitality, the press release stated. The brand will modernize stores and build up new units and work to bring all stores up to a baseline level of operational efficiency.
At RFDC, Carbone said the chain’s recently developed small box store format opens new markets for development and that it pushed the brand to refine its kitchen operations and design.
