|Ronald Shaich, Panera Bread chairman|
Panera Bread posted better-than-expected quarterly earnings as its profit and revenue surged, but Shaich said the company was not immune to commodity cost increases.
Panera instituted some modest price increases over the last few years to cover rising input costs. Shaich said the company rolled out price increases on select products in the first quarter last year after testing those increases in the prior October and November.Shaich said Panera experienced higher costs in dairy and wheat, as well as significantly higher costs in coffee. He said Panera has historically been able to pass on underlying inflation costs to consumers. Food makes up about a third of the company's overall costs, he added.
|Mosaic CFO Larry Stranghoener|
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