Pret A Manger announces like-for-like sales increase for 34th consecutive quarter
Pret A Manger has announced its 34th consecutive quarter of like-for-like sales growth as the company continues to expand.
In its annual results for the year ending 28 December 2017, the company counted a revenue increase of 13.2%, rising to £878.5m. Like-for-likes grew by 3.2%.
Its net quantity of new shops opened also rose, from 45 sites in 2016 to 58 in 2017. Of those, 31 were in the UK, 16 were in the US, six were in Hong Kong and four were in France.
The company opened its 500th outlet worldwide and its first outlet in Singapore and also expanded its vegetarian Veggie Pret openings in London.
Chief executive Clive Schlee said: "This is another satisfactory set of results for Pret, and our 34th consecutive quarter of like-for-like sales growth. The brand continues to thrive around the world, thanks to its simple recipe of freshly prepared food, served by genuinely engaged teams.
"We're looking forward to working closely with JAB, who we believe will be excellent long-term owners of Pret. I would also like to thank Bridgepoint for its committed stewardship over the last 10 years."
Megan Van Someren, Founder of consultancy company Canteen, said: "It's no surprise that Pret A Manger is seeing growth.
"I applaud them for their ongoing menu innovation, not only with Veggie Pret, but also with the way they push what they are making with plants, fruits and vegetables across everything, not just salads.
"It's reflective of what you see trending in food social media. Lots of nutrition-rich plant based recipes luring everyone from vegans, vegetarians and flexitarians with their colour and vibrancy.
"This isn't just a decision of health though but of the environment as well. We discovered in our Canteen Findex research that 1/3 of Brits believe what they eat reflects their political and environmental values and opinions.
"Clearly people are increasingly conscious of the larger food system and are using their buying power to make a difference."
