Earnings Claims of Top Franchises Revealed

Earnings Claims of Top Franchises Revealed

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FDD Talk 2013: Statement of Average Net Sales and Net Profit (EBITDA) for Panera Bread Bakery-Cafes (2013 FDD)

by Franchise Chatter on June 7, 2013

in Bakery Franchise, Franchise Earnings



Franchise Chatter Membership Information

Highlights of Panera Bread’s Item 19 Financial Performance Representations (2013 FDD)

Information Regarding Panera Bread’s Statement of Average Net Sales

  • The Statement of Average Net Sales consists of the mean averages of the reported annual Net Sales of 694 company-owned Bakery-Cafes and 756 franchisee-owned Bakery-Cafes open during the entire fiscal year ending December 25, 2012, excluding any acquisitions or dispositions that occurred during the year.
  • The information does not include the results of any Panera Bread/St. Louis Bread Cares Bakery-Cafes operated by Panera Bread Foundation, Inc.
  • The Net Sales of franchisee-owned Bakery-Cafes were derived from unaudited financial reports submitted by franchisees for the purpose of computing royalties. Panera compiled the Net Sales of company-owned Bakery-Cafes on the basis of generally accepted accounting principles.

Information Regarding Panera Bread’s Statement of Average Net Profit and EBITDA of Company-Owned Bakery-Cafes

  • The Statement of Average Net Profit and EBITDA of company-owned Bakery-Cafes consists of the mean averages of 694 company-owned Bakery-Cafes open during the entire fiscal year ending December 25, 2012.
  • Panera Bread Photo by spaceappleThe Statement of Average Net Profit and EBITDA for company-owned Bakery-Cafes was prepared in accordance with generally accepted accounting principles.
  • Operating costs and expenses for a Panera Bread Bakery-Cafe may vary considerably and be different than those disclosed in the following statement, as a result of higher food and distribution costs, labor shortages, and competitive real estate markets, among other factors.  Additionally, distribution costs in those areas of the country not currently serviced by Panera Bread’s fresh dough facilities, approved suppliers, or distributors may be higher.
  • Gross Revenues are comprised of the aggregate gross amount of all sales of food, beverages, and other products and merchandise sold and services rendered but does not include sales or service taxes.
  • Discounts consist of the dollar amount of coupons, MyPanera Rewards Program, other promotional discounts, and employee meals.
  • Net Sales has the same meaning as set forth in the Franchise Agreement, i.e., the aggregate gross amount, determined in accordance with Panera Standards, of all sales of food, beverages, and other products and merchandise sold and services rendered in connection with the Panera Bread Bakery-Cafe, including monies derived from sales at or away from the Panera Bread Bakery-Cafe, but excluding:
  • (1) all federal, state, or municipal sales or service taxes collected from customers and paid to the appropriate taxing authorities; and
  • (2) all customer refunds and adjustments and promotional discounts made by the Panera Bread Bakery-Cafe.
  • Cost of Sales includes the cost of food, paper, and other products. These figures are based on the cost of Panera Bread Bakery-Cafes within the distribution network areas. The cost of sales may vary considerably based on whether a Bakery-Cafe is located within the geographic area serviced by Panera Bread’s fresh dough facilities, approved suppliers, and distributors.
  • Labor includes wages paid to management (but does not include any wages or overhead above the store management level) and employees of the Bakery-Cafe, including shift supervisors, bakers and associates, management bonuses, payroll taxes, the cost of group insurance, workers compensation, vacation, and other employee benefits.
  • Operating Expenses includes bank charges, the cost of utilities, repairs and maintenance, smallwares and hardwares, cleaning supplies, office supplies, telephone, trash removal, uniforms, point-of-sale maintenance, flowers, pest control, music, parking, employee advertising, and other miscellaneous operating expenses.
  • Fixed Expenses includes taxes, depreciation, and amortization, the cost of insurance, leased equipment and licenses, and other miscellaneous fixed expenses.
  • Occupancy Expenses includes base rent, percentage rent, common area maintenance, real estate taxes, promotional and other miscellaneous lease expenses.

Panera Bread’s Statement of Average Net Sales



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