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Panera shares hit record high, boosted by kiosks and other technology

February 9, 2017

Shares of Panera Bread surged to a record high on Wednesday and were on track for the biggest one-day move in almost two years after the company gave an upbeat forecast and said technology investments –including self serve kiosks – at its restaurants were paying off, according to Reuters.

Recent investments to add ordering kiosks and other technology upgrades to Panera's retail locations are beginning to show results, company founder and Chief Executive Ron Shaich told analysts on a conference call late on Tuesday.

Such changes may help offset rising labor costs – driven by rising minimum wages and declining unemployment – that have hurt the profits of many restaurant chains.

Following the lead of Domino's Pizza and other pizza chains that have successfully used smartphone apps to drive growth, Panera said a quarter of its sales are now online.