Bread winner: Pret A Manger reports 34th consecutive quarterly sales growth


- Last updated on GMT

Bread winner: Pret A Manger reports 34th consecutive quarterly sales growth

Related tags: QSR, Food, Pret a manger, Finance

Pret A Manger has achieved a 13.2% increase in revenue, to £878.5m, for the 52 weeks to 28 December 2017, with like-for-like sales up 3.2%.

The sandwich chain opened 58 net new shops during the period – an increase on the 45 it opened during 2016 – taking its total estate to 502. Thirty-one of the new openings were in the UK.

Pret says it has continued to see a positive performance so far in 2018, despite challenging conditions in the first quarter in the UK and the US. It has opened 31 new sites in 2018, with its first site in Germany due to open later this year at Berlin Central Station.

The company, which was sold to JAB Holdings in a deal believed to worth around £1.5bn earlier this year, say highlights for 2007 include opening its 500th​ outlet, and its first in Singapore, and introducing sustainability initiatives such as reusable bottles, free water stations and discounts for bring a reusable cup into shops.

It also highlights the opening of two further Veggie Prets in London – with the first Veggie Pret outside London to open later this year.

“This is another satisfactory set of results for Pret, and our 34th consecutive quarter of like-for-like sales growth," says Pret A Manger chief executive Clive Schlee.

“The brand continues to thrive around the world thanks to its simple recipe of freshly prepared food, served by genuinely engaged teams."

The business, which opened 27 stores outside the UK in 2017, says it is committed to expanding in travels hubs in North America and Europe, in partnership with HMSHost, during the coming year.

This story is based on information that first appeared on BigHospitality’s sister website MCA. To subscribe to its breaking news feed, click here

Related topics: Business & Legislation

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