Panera Bread to Expand in California
Richmond Heights, Mo., Panera Bread announced a franchise agreement with Pangenera, LLC for expansion in California. The group plans to develop 15 bakery-cafes in San Mateo, Santa Cruz and Santa Clara counties by 2010. Panera Bread currently operates 773 units (243 company-owned and 530 franchised).
Conn’s Posts Strong 1Q
Beaumont, Texas, Conn’s Inc., a regional retailer of home appliances, consumer electronics, mattresses, and lawn-and-garden products, reported a 26.1% increase in net income to $9.8 million in the first quarter. Total revenues grew 17.3% to $158.2 million on a same-store sales increase of 7.3%.
Wal-Mart Steps Up Hispanic Marketing
New York City, Wal-Mart is beefing up its efforts to target Hispanics, according to a report in today’s Wall Street Journal. In addition to printing ad circulars in both English and Spanish and publishing a Spanish-language magazine, the retailer also is teaming up with Sprint to offer a new prepaid wireless service specifically geared to Hispanics, the paper reports.