Panera's adds to Fayetteville Towne Center's culinary boom Nov. 19

FAYETTEVILLE - Panera Bread's first Central New York location is scheduled to open Nov. 19 at the Fayetteville Towne Center. The bakery-cafe combines a coffee shop, bakery, and restaurant into a single location, The Fayetteville Panera has seating for 96 inside and 35 outside. Each Panera location

The Panera name comes from the Latin phrase meaning "time for bread." Panera's bread forms the basis of its sandwiches and even its bread-bowl served soups.

Leased from COR Development, the 4,800-square-foot Towne Center location offers "destination" shopping near a residential area, says Panera spokesman Benjamin DuMont. The center is anchored by a Target store and features several new eateries including Uno Chicago Grill, Carrabba's Italian Grill, and the Great Northern Pizza Kitchen.

The new Panera stores are part of a group of more than 120 opening this year. Panera plans a Clay location in the spring at 3815 Route 31 in another COR-owned plaza, says Julie Somers, Panera spokeswoman.

In addition to a full line of gourmet breads, Panera's restaurant menu includes a number of soups, salads served with bread, and hot Panini sandwiches, as well as cold sandwiches. The cafes serve regular coffee, espresso, cappuccino, and soda.

About one-quarter of Panera stores are operated as joint ventures or under company ownership while the others are franchised. Panera's joint-venture concept shares store ownership between the company and an investor. The investor cannot transfer his interest without the company's consent, and Panera has the right to buy out the joint-venture partner after five years. The joint-venture agreement contains a provision for sharing cash flow from the operation of each location. Vestal-based investor John Caveny is Panera's joint-venture partner in Central New York. Annual sales volume per

Panera store is approximately $1.8 million.

Cicero resident Scott G. Davis is the company's senior vice president and chief concept officer. A graduate of Mohawk Valley Community College, Davis previously worked for Au Bon Pain as a store manager in 1987 and later headed the company's new-concepts department. Davis led development of Panera's bakery-cafe concept.

Panera sprang from entrepreneur Ronald Shaich's Au Bon Pain bread stores. Shaich, chairman and chief executive officer of Panera Bread, founded Au Bon Pain in 1981 and in 1987 acquired the St. Louis Bread Co. which subsequently evolved into Panera Bread. Four years ago, he sold Au Bon Pain to concentrate on expanding Panera.

There are approximately 531 Panera stores in 33 states. Last year Panera Bread - which includes company-owned stores and sales of supplies to franchisees posted $21 million in net income on $277.8 million in revenues. Panera's total sales for both company-owned and franchised stores for 2002 were $755 million and sales should top the $1 billion mark this year, according to company projections.