For those investors looking for a place to hide in this hideous market, Jim Cramer recommended to look at Panera Bread.
The company reported a fantastic quarter on Wednesday, thus removing earnings risk from the stock. Panera is a chain of more than 1,900 bakery cafes that serve health- and taste-conscious food.
Cramer spoke with Panera CEO Ronald Shaich, who attributed the company's success to its 2.0 model that was first unveiled in 2014. The revamp was aimed at enhancing guest experience at Panera through digital ordering, payment and operations.
"Our view is essentially we are moving into an omni-channel world. As we built out 2.0, it is really a better guest experience," Shaich said.