Panera Bread’s new strategy focuses on refreshing the menu with higher-quality ingredients like cherry tomatoes and romaine lettuce|kennejima|CC BY 2.0
The once-famous casual dining chain Panera Bread announced a multimillion-dollar turnaround plan on Tuesday called “Panera RISE” to revive customer traffic and escape years of sluggish sales.
Panera currently generates $6 billion annually and hopes to boost that to over $7 billion by 2028. It peaked in 2023, bringing in $6.5 billion.
CEO Paul Carbon said the transformation involves putting “the guest at the very center of everything we do.”
The strategy focuses on refreshing the menu with higher-quality ingredients like cherry tomatoes and romaine lettuce, offering more affordable pricing, upgrading bakery and beverage items, and improving customer service by adding more front-of-house staff.
Panera will also modernize its 2,239 North American locations and build new ones.
Panera not alone
The overhaul comes as many fast-casual chains struggle with lower foot traffic. Brands like Starbucks rolled out major turnaround plans to regain customers in 2024. TGI Fridays and Hooters are revamping their menus to come back from bankruptcy.