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Panera Bread Company
Lipson, Marc L. Case F-1575 / Published December 31, 2008 / 10 pages.
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Product Overview

As 2007 drew to a close, Panera Bread Company faced a new challenge. To date, it had relied on retained earnings and minor equity infusions to finance operations. But a decline in margins would limit future financing from internally generated funds. Complicating matters was the fact that its stock price was at historic lows and management was contemplating a large equity repurchase. This case can be used to discuss multiperiod financial forecasts and the relative desirability of various financing sources. A teaching note and instructor and student spreadsheet are available.

Learning Objectives

The learning objective is for students to generate a multiyear forecast of operations and financial needs and to explore the nature of various possible financial sources. The case is an excellent introduction to financial strategy and the forecast illustrates clearly the evolution of a firm’s financial needs.

  • Overview

    As 2007 drew to a close, Panera Bread Company faced a new challenge. To date, it had relied on retained earnings and minor equity infusions to finance operations. But a decline in margins would limit future financing from internally generated funds. Complicating matters was the fact that its stock price was at historic lows and management was contemplating a large equity repurchase. This case can be used to discuss multiperiod financial forecasts and the relative desirability of various financing sources. A teaching note and instructor and student spreadsheet are available.

  • Learning Objectives

    Learning Objectives

    The learning objective is for students to generate a multiyear forecast of operations and financial needs and to explore the nature of various possible financial sources. The case is an excellent introduction to financial strategy and the forecast illustrates clearly the evolution of a firm’s financial needs.