Panera Bread is launching a multimillion-dollar initiative to overhaul its operations to boost traffic and reverse years of stagnant sales growth.

Panera, one of many fast-casual restaurants contending with a challenging landscape, announced its transformation strategy on Tuesday, dubbed “Panera RISE,” which is focused on refreshing the menu, boosting its value proposition and customer experience by enhancing the look of its restaurants and expanding its network.

The company aims to use this strategy to help it reach more than $7 billion in systemwide sales by 2028, up from the $6 billion it currently brings in annually. In 2023, U.S. sales peaked at $6.5 billion, but its units and sales haven’t substantially increased since, according to reports citing data from Technomic.

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