Pret A Manger reports a 4.8% increase on like-for-like sales in 2016
LONDON, UNITED KINGDOM – Pret A Manger today released its financial results for the year up to 29 December 2016, reporting a 15% increase in group sales to reach £776.2 million in global revenue. Like-for-like sales have increased by 4.8%, however this figure has dropped from 7.5% compared with the previous year. EBITDA growth is up 11% to record £93.2 million.
Pret saw international growth in 2016, opening 50 new stores worldwide, including 31 in the UK, 9 in the US, 5 in France, 3 in Hong Kong, 1 in Shanghai, China, and a first in Dubai. Pret currently operate 444 stores worldwide.
Clive Schlee, Chief Executive of Pret A Manger, commented, ‘This is another year of record results for Pret and our 12th consecutive year of revenue and EBITDA growth. Pret’s simple recipe of freshly made food and fast, friendly service allows us to flourish in diverse locations around the world’
In 2016, the first Veggie Pret shop opened in London, with a second site opening in the city this year. The company reports that 52% of Veggie Pret customers are meat-eaters looking to cut down consumption and include more plant-based foods in their diet. Pret US has also seen increased customer interest in meat-free products and launched a new vegetarian range and ‘Not Just For Veggies’ campaign this week.
In a future outlook statement, Schlee said, ‘We look forward to opening our 500th Pret shop in the next 12 months and furthering our measured expansion in both existing and new markets.’