Cramer, the co-manager of the Action Alerts PLUS portfolio, isn't thinking short term on Panera. The company is making some big changes to its technology and solving its through-put issues, meaning its serving its customers faster during peak traffic times.
The company, an Action Alerts PLUS holding, is doing well and its Panera 2.0 initiatives are well-timed, he added. "We're not playing quarters, we're playing years. I think Panera's a good one to own for years."
Analysts expect the company to earn $1.34 per share on $681.81 million in revenue.
At the time of publication, Cramer's Action Alerts PLUS had positions in PNRA.