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Panera Bread's CEO Discusses Q1 2012 Results - Earnings Call Transcript





Panera Bread Company (PNRA)

Q1 2012 Earnings Call

April 25, 2012 8:30 am ET

Executives

Michele Harrison - VP, IR

Ron Shaich - Chairman & Co-CEO

Bill Moreton - President & Co-CEO

Analysts

Michael Kelter - Goldman Sachs

Matthew Difrisco - Lazard

David Tarantino - Robert W. Baird

Jason West - Deutsche Bank

Joe Buckley - Bank of America

Keith Siegner - Credit Suisse

John Glass - Morgan Stanley

Peter Saleh - Telsey Advisory Group

Phillip Juhan - BMO Capital Markets

Mitch Speiser - Buckingham Research

Bart Glenn - D. A. Davidson

Presentation

Operator

Good day, everyone and welcome to this Panera Bread First Quarter 2012 Earnings Conference Call. Today's call is being recorded. At this time, I would like to turn the conference to Ms. Michele Harrison. Please go ahead.

Michele Harrison

Thanks, Jake. Good morning to everyone, and welcome to Panera Bread's first quarter 2012 earnings call. Here with me on the call this morning are Ron Shaich, our Chairman and CEO -- Co-Chief Executive Officer; and Bill Moreton, our President and Co-Chief Executive Officer.

Before we begin this morning, let me cover a few regulatory matters. I'd like to note that during our opening remarks and our responses to your questions, certain items will be discussed, which are not based on historical fact.

Any such items, including targeted 2012 results and conditions and details relating to 2012 performance, should be considered forward-looking statements within the meaning of the Private Litigation Security Reform Act of 1995. As such, such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.

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