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Pret A Manger hit record £1.1bn as overseas powers growth

Pret A Manger hit record £1.1bn as overseas powers growth

Pret A Manger sales surged 22% to £1.1bn in 2023 powered by its international expansion, as the growth continued in its first half of 2024.

Sales jumped 10% to £569m in the first six months of the year, with same-store sales nudging up 3%.

Its overseas expansion has taken the coffee and sandwich shop to 18 markets, and now £1 in every £4 now spent by Pret customers outside the UK. Meanwhile, franchising represents a third of sales.

New York has become its largest market outside the UK, thanks to a new joint venture with franchise partner Dallas International.

The sandwich shop plans to open more than 10 new shops on the US East Coast by 2026 as it aims to triple its presence in the region within the next five years.

In the UK, the chain has expanded beyond London, with 87% of new openings since January 2023 occurring outside the capital. It has also entered new partnerships to open shops across Scotland and Ireland.

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Pret chief executive chief executive Pano Christou said: “I am so proud of the progress we have made over the last three years. We set ourselves some tough targets to get Pret going again after the pandemic, and we have delivered.

The chain has continued to innovate its menu, introducing over 300 unique recipes globally, as it launched its biggest range of new products in five years with its 2024 autumn menu. In January 2024, Pret also introduced its first-ever children’s menu, Little Pret Stars.

To address rising commodity costs, it began reducing prices on popular items earlier this year and made changes to its Club Pret subscription to allow for further price reductions.

Christou added: “Looking to the future, our recipe for success is to focus on doing what Pret does best: creating delicious, freshly made food for our customers, only using the high-quality ingredients that we’re proud to have in our kitchens.”

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