Pret A Manger set to reach 500 shops worldwide

Pret A Manger has set a target to open its 500th shop worldwide in the next 12 months as it announced its financial results for the 52 weeks to 29 December 2016.

Pret recorded 444 sites at the end of last year and opened 50 new shops during 2016, including 31 in the UK, nine in the US, five in France, three in Hong Kong, one in Shanghai and a first in Dubai.

“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,” said Clive Schlee, Pret’s CEO.

“We will of course continue to focus on the essentials: menu innovation and the quality of our ingredients, opening new shops in top-class locations around the world and, above all, recruiting and engaging our wonderful teams.”

Pret said this was another record year for results, with group sales rising by 15% to £776.2m and like-for-sale up by 4.8%. Meanwhile, EDITDA also rose by 11% to £93.2m.

“This is another year of record results for Pret and our 12th consecutive year of revenue and EBITDA growth,” Schlee added.

“Pret’s simple recipe of freshly made food and fast, friendly service allows us to flourish in diverse locations around the world – from Penn Station in New York to the campus of Exeter University and Dubai International Airport.”

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