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Panera Bread Company
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Reference: DARDEN-F-1575-E
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Number of pages: 7
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Publication Date: Dec 31, 2008
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Fecha de edición: Apr 30, 2021
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Source: Darden University of Virginia (USA)
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Type of Document: Case
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Industry Setting: Food/Beverage
Description
As 2007 drew to a close, Panera Bread Company faced a new challenge. To date, it had relied on retained earnings and minor equity infusions to finance operations. But a decline in margins would limit future financing from internally generated funds. Complicating matters was the fact that its stock price was at a historic low and management was contemplating a large equity repurchase. This case can be used to discuss multiperiod financial forecasts and the relative desirability of various financing sources. A teaching note and instructor and student spreadsheets are available.