The fast-casual chain unveils a transformation plan following 25 restaurant closures as competition intensifies in the sector.
Panera Bread aims to achieve $7 billion in systemwide sales by 2028 under its “Panera RISE” transformation plan. The initiative focuses on menu innovation, higher-quality ingredients, and digital upgrades to attract value-conscious consumers amid rising competition in the fast-casual sector.
The company has closed 25 underperforming locations since last summer, with Texas accounting for the largest share after a franchise operator filed for Chapter 11 bankruptcy. Panera is also modernizing existing cafés and expanding its portfolio as part of the overhaul.
Rivals in the industry are similarly adapting, leveraging celebrity partnerships and trend-driven offerings to capture market share in a shifting consumer landscape.