Panera's Ron Shaich: "We've Been Following The Same Core Strategy For 20 Years"

On CNBC this afternoon, Ron Shaich, the co-founder and former CEO of Panera Bread Company PNRA, spoke about his company's decision to avoid lowering prices during the recession. “I've been at this for 30 years; this company has been public for 20 years,” Shaich said. “We've been following the same core strategy for those 20 years.” Shaich, who now serves as the Executive Chairman of the Board, said that the company's strategy has been to stick with the core and invest for the guest. “We announced today that we will open 95 to 105 cafés in 2011,” he said, adding that the 2010 café openings were some of the best in the company's history. As far as international expansion is concerned, Shaich said that Panera is in the early phases of growth. “We have so many opportunities ahead of us,” he said. “I don't think we're willing to in any way indicate what our direction is today. But we will continue to grow and continue to serve our guests.”