8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 26, 2003

PANERA BREAD COMPANY

(Exact name of registrant as specified in its charter)

Delaware	000-19253	04-2723701
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

6710 Clayton Road
Richmond Heights, MO	63117
(Address of principal executive offices)	(Zip Code)

314-633-7100
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

TABLE OF CONTENTS

EX-99.1 Release, dated June 26, 2003

Item 7. Exhibits.

Exhibit No.	Exhibit
99.1	Release, dated June 26, 2003.

Item 9. Regulation FD Disclosure and Information Being Provided Under Item 12.

In accordance with General Instruction B.2. of Form 8-K, the following information shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended. Panera Bread Company disclaims any intention or obligation to update or revise this information. This information is being furnished pursuant to Item 12 of Form 8-K and is being presented under Item 9 as provided in the Commission’s final rule; “Interim Guidance Regarding Form 8-K Item 11 and Item 12 Filing Requirements” (Release No. 34-47583).

Attached as Exhibit 99.1, and incorporated herein by reference, is a copy of the registrant’s press release dated June 26, 2003, announcing its comparable store sales for the four and eight weeks ended June 14, 2003.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PANERA BREAD COMPANY
By:		/s/ Mark E. Hood
	Name:	Mark E. Hood
	Title:	Senior Vice President, Finance and Administration, Interim CFO

Date: June 26, 2003

EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Panera Press Release, dated June 26, 2003.

EX-99.1 3 c77917exv99w1.htm EX-99.1 RELEASE, DATED JUNE 26, 2003

Exhibit 99.1

PRESS RELEASE

Contact:	Mark E. Hood
	SVP, Finance & Administration (314-633-7255)

Panera Bread Reports System-Wide Comparable Bakery-Cafe Sales Increased 3.0%
for the Four Weeks Ended June 14, 2003

St. Louis, MO, June 26, 2003 – Panera Bread Company (Nasdaq: PNRA) today reported that system-wide comparable bakery-cafe sales increased 3.0% for the four weeks ended June 14, 2003. The breakdown between Company-owned and franchised bakery-cafes is as follows:

	For the 4 weeks			For the 8 weeks
	ended June 14, 2003			ended June 14, 2003
Company-owned		4.9	%		1.3	%
Franchised		2.1	%		-1.2	%
Total System		3.0	%		-0.5	%

Average system-wide weekly sales (excluding the one specialty bakery-cafe and closed locations) increased 3.4% to $35,649 for the four weeks ended June 14, 2003 compared to $34,463 for the four weeks ended June 15, 2002.

Included above are franchised and system-wide comparable bakery-cafe sales increases and system-wide average weekly sales. Management believes system-wide sales information, particularly average weekly sales, is useful in assessing consumer acceptance of the Company’s bakery-cafe concept as it measures the impact of both comparable sales and new stores. System-wide sales information also provides an understanding of the Company’s revenues as royalties from franchisees are based on their sales.

Panera Bread Company owns and franchises bakery-cafes under the Panera Bread and Saint Louis Bread Co. names. The Company is a leader in the emerging specialty bread/cafe category due to its unique bread combined with a quick, casual dining experience. Additional information is available on the Company’s website, www.panerabread.com.

Matters discussed in this news release, including any discussion or impact, express or implied, on the Company’s anticipated growth, operating results and future earnings per share contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The statements identified by the words “believe”, “positioned”, “estimate”, “project”, “target”, “continue”, “will”, “intend”, “expect”, “future”, “anticipates”, and similar expressions express management’s present belief, expectations, or intentions regarding the Company’s future performance. The Company’s actual results could differ materially from those set forth in the forward-looking statements due to known and unknown risks and uncertainties and could be negatively impacted by a number of factors. These factors include but are not limited to the following: the availability of sufficient capital to the Company and the developers party to franchise development agreements with the Company; variations in the number and timing of bakery-cafe openings; public acceptance of new bakery-cafes; competition; national and regional weather conditions; changes in restaurant operating costs, particularly food and labor; and other factors that may affect retailers in general. These and other risks are discussed from time to time in the Company’s SEC reports, including its Form 10-K/A for the year ended December 28, 2002.

-----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

exv99w1