Ten years almost to the month, Forbes has profiled Panera Bread and its fearless leader, Ron Shaich.
Much has happened since that initial interview and Shaich, who at the time was Panera Bread's CEO, is now its chairman. In November 2000, the company was trading for $19 per share; today, shares are as much as $91.
In an article posted Oct. 19, Forbes asked Shaich about what the chain was able to accomplish during a recession and how the company stacks up against the likes of Subway.
In an effort to look at the 10-year cycle of the fast casual segment's leading brand, Forbes has once again put Shaich in the hot seat.
From the story:
Forbes: Why would you introduce an item at a $16.99 price point during a recession?
"We had a different paradigm. As unemployment shot up from 5% to 10%, people became very focused on the 5%. Our sense is that a recession is really a depression for some people. I mean, you’re out of work, it’s a depression. For most folks, life goes on as normal. Now, it doesn’t mean that they don’t think about what’s going on around them and maybe they don’t buy a new car that year or maybe they put off getting that new washing machine."
