TRI / Tenant Scores / Panera Bread
63
Health Score
Healthy
Updated March 17, 2026
Moderate confidence · Some data gaps
Based on public data sources. Private data would improve accuracy.
Based on public data sources. Private data layer available in detailed reports.
Fast Casual
Scored as: Food & Beverage

Panera Bread

Panera Bread is a fast-casual bakery-cafe chain operating approximately 2,100 locations across the US and Canada as of 2023. The company was acquired by JAB Holding Company for $7.5 billion in July 2017 and taken private from public trading.

Panera shows revenue decline from $5.9 billion in 2016 to estimated $5.5 billion in 2022 with 20+ store closures announced in 2023. Customer sentiment remains mixed with Google Reviews averaging 3.8/5 stars and Yelp ratings at 3.0-3.5/5 stars. The company maintains steady operational hiring with approximately 800-1,000 active job postings on Indeed as of late 2023.
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Category Scores
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Category Scores

What the signals show.

Each category is scored 0 to 100 based on public data signals. Weights adjust by tenant type. Scores update monthly.

Business Health
Entity status, filings, financial signals, press
45
Employment & Operations
Job postings, store status, website activity
70
Customer Sentiment
Reviews, ratings, response rate
60
Legal & Compliance
UCC liens, court records, BBB, regulatory
85
Local Market
Demographics, competition, local conditions
N/A
Industry & Sector
Sector health, competitive risk, labor costs
50
How Panera Bread compares to Fast Casual tenants nationally
This tenant
63
Category average
81
About This Rating

What this score means.

Food & beverage tenants are generally recession-resistant but face significant margin pressure from rising labor costs and competition. Revenue trends, store closure patterns, and customer sentiment ratings are the most predictive signals for lease performance in this category.

This score of 63 is below the food & beverage category average of 81, primarily due to declining revenue trends and recent store closures.

Signal Detail

What we found.

Signal detail is available to free account holders. Enter your email below to view all detected signals for Panera Bread.

Business Health 3 signals detected
↓ Revenue declined from $5.9 billion in 2016 to estimated $5.5 billion in 2022 according to industry reports
→ Announced closure of 20+ underperforming locations in 2023
→ Operates approximately 2,100 locations across US and Canada as of 2023
Employment & Operations 3 signals detected
→ Indeed shows approximately 800-1,000 active Panera job postings as of late 2023
↑ LinkedIn corporate hiring shows fewer than 50 corporate roles posted in past 90 days
→ Starting wages reported at $12-16/hour for most positions
Customer Sentiment 3 signals detected
→ Google Reviews average 3.8/5 stars across locations
→ Yelp ratings typically 3.0-3.5/5 stars
→ Corporate response rate to negative reviews appears low based on sample locations
Legal & Compliance 3 signals detected
⚠ No significant bankruptcy or restructuring filings found in PACER database as of 2023
⚠ BBB rating of A- with approximately 1,200 complaints over past 3 years
→ No systemic health inspection violations noted across locations
Local Market N/A
Not applicable for this tenant type
Industry & Sector 3 signals detected
↑ Fast casual segment growth slowed to 1-2% annually 2022-2023
→ Labor costs rising with minimum wage increases in key markets like California at $20/hour for fast food
→ Digital ordering and delivery now represent 50%+ of sales for most fast-casual chains
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Recommendation

What to do next.

Initiate contact within 30 days. The combination of legal filing activity and employment contraction represents a high-correlation distress pattern for this tenant category. We recommend a direct conversation before the renewal window opens. Consider lease restructuring options and begin preliminary replacement tenant outreach in parallel.

A detailed report includes the full recommendation, source citations, and a step-by-step action plan.

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