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Sticker shock slams shoppers for Labor Day barbecues

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    Reaction from Panera Bread founder Ron Shaich

  • Duration 3:48
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You've probably noticed you're getting grilled at the checkout -- this Labor Day weekend food prices soaring on all your barbecue favorites -- -- ticket snacks ice cream.

Deer you name it to the guy knows all about this food in place and stuff but he's still doing OK -- -- it.

Panera Bread founder Ron -- Ron how bad do you think this gets.

You know I think we're -- to.

See just a little bit of of inflation I think we're projecting a couple of percent.

And I think it's going to be something that's going to be handled.

As part of -- Of the continued progress of -- of our businesses.

Another words that what what what the price is right but one area they stabilize and another people can find alternatives whatever you -- -- but generally with polluted place and what starts in one area doesn't state -- -- -- you disagree.

Right.

-- -- I I I think that you you that you see doubts of this inflation.

I think you see it moving around.

Though that the NL but up.

I'll tell you for us we have historically been able to.

Pass along whatever inflation we -- And the important thing is that as a business it's about being differentiated and doing something that makes a difference.

For example we just went through a quarter are earnings were up 27%.

Our comp store sales were up seven point 1%.

More importantly our stock tripled during the recession.

We did it because we -- we harbored our resources and when the recession came we invested forward depreciation.

Well I always think in your case as memorabilia fair -- establishments -- -- that that it's it's a comforting thing I mean they're very conducive to.

You know when you just -- just chill out lives and heat but but do you worry that you could push that too far.

That.

There will get to be a point in which people will say all right.

On this this -- and -- might -- -- X dollars but but not double those dollars.

I'm sure but but what we're not doubling our prices I mean basically we are committed to not -- raising prices beyond the rate of inflation.

And and obviously we win when we have inflation we generally on average all experienced at the same.

So we will we will always.

Find an opportunity to do right by our guests in and we will invest in having a better experience for you -- -- that says enough.

But I'm wondering I did -- either candidate and their policies.

Make a difference to deal -- -- do it if it if you argue that the did did demeaning of our dollar.

Means it down the road -- place it is going to be a bigger issue.

Is -- such a thing as a riskier Canada.

Well you know here's what I think I I I think the real problem.

Is is is not one candidate or the other but the entire political class you said earlier their inability to solve problems.

We have a serious problems this country -- heard Romney just a few minutes ago speak to him.

You've got you've got -- debt problem you have an energy problem you have an issue with education.

Among others and the real question is can the political class come together and solve -- and if they commit to solving it and then they -- -- down the can.

That -- that can down the road it's it's proof positive that that that our system is not working to serve us.

And I can tell you as a businessman.

If if if if I can't bring my organization to a budget if I can't bring if I can't solve the problems you know what happens on fire.

And frankly the entire political class is -- forward cut out all this hyper partisanship.

Cut out blaming each other and solve the problems there's too much there's too much rhetoric and not a problem solving.

You just that a better than any in my -- combine this hour.

On -- thank you very much as little more students.

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