Cramer’s looking for the bull markets, even on days like today when the market has taken a beating. He thinks he has found one in The Panera Bread Co.
The stock is up $5 today after raising its fourth-quarter guidance last night and reporting same-store growth of 7.4% at its company-owned bakery-cafés. And those numbers are accelerating from 6.8% in October to over 9% in December and January thus far.
That kind of accelerated revenue growth, Cramer said, is exactly what Wall Street wants to see, and PNRA has the strongest growth in the casual-dining industry. Plus, with 1,300 locations the company has plenty of room to grow, and 80 to 90 new units are expected to open this year.
At the same time, the company is big enough to leverage its national footprint with the media. This is allowing PNRA to see a 60% increase in media impressions at the same dollar cost as before.
The stock is up 51% since Cramer recommended it at $48.74 on July 23, 2008. The S&P 500 was down 12.7% over the same period.
To discuss the strong performance in the stock, Panera Bread’s CEO Ron Shaich is back to talk with Cramer. Watch the video for the full interview.
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