Panera Bread releases first-ever value menu with 'Mix & Match' deals
CNBC • • general
Key Points:
- Panera Bread is launching a new "Mix & Match" value menu with 10 items priced at $4.99 each, aiming to attract price-conscious diners amid industry-wide consumer spending declines.
- The chain is in the early stages of a turnaround, focusing on reinvesting in the business to reverse years of traffic declines and regain market position after falling to No. 3 behind Chipotle and Panda Express.
- Panera's 2024 sales dropped 5% to $6.1 billion, highlighting the urgency of the value-focused strategy as consumers increasingly seek daily specials, discounts, and value promotions.
- The "Mix & Match" deal allows customers to buy at least two items, including half portions of sandwiches, salads
