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Panera Bread (PNRA) is a "special situation," TheStreet's Jim Cramer said from the floor of the New York Stock Exchange Monday, ahead of the company's scheduled earnings results on Wednesday.

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."

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Analysts expect the company to earn $1.34 per share on $681.81 million in revenue.

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At the time of publication, Cramer's Action Alerts PLUS had positions in PNRA.