The breakdown between Company-owned and franchise-operated bakery-cafes is as follows for the periods indicated:
For the For the
5 weeks 9 weeks Year-to-date
ended ended through
August 28, August 28, August 28,
2007 2007 2007
Company-owned 4.1% 4.2% 1.6%
Franchise-operated 2.5% 3.0% 1.7%
Total System 3.1% 3.4% 1.7%
Company-owned comparable bakery-cafe sales percentages are based on sales from bakery-cafes that have been in operation and Company-owned for at least 18 months. Franchise-operated comparable bakery-cafe sales percentages are based on sales from franchised bakery-cafes that have been in operation and franchise-operated for at least 18 months. Both Company-owned and franchise-operated comparable bakery-cafe sales exclude closed locations.
Included above are franchise-operated and system-wide comparable bakery-cafe sales percentages. System-wide sales is a non-GAAP financial measure which includes sales at all Company-owned bakery-cafes and franchise-operated bakery-cafes, as reported by franchisees. Management uses system-wide sales information internally in connection with store development decisions, planning, and budgeting analyses. Management believes system-wide sales information is useful in assessing consumer acceptance of the Company's brand and facilitates an understanding of financial performance as the Company's franchisees pay royalties and contribute to advertising pools based on a percentage of their sales.
Panera Bread Company owns and franchises 1,106 bakery-cafes under the Panera Bread(R) and Saint Louis Bread Co.(R) names as of August 28, 2007.
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