Pret A Manger sales break £500m for first time

9 May 2014
The Guardian
The 350-outlet chain says growing demand for healthy lunches helped raise turnover by 15% and profits by 9% in 2013
Sandwich, sushi and soup chain Pret A Manger has unveiled annual sales of more than £500m for the first time.
The 350-strong chain, whose menu stretches from 500-calorie muffins to endamame bowls, quinoa protein pots and kale crisps, said growing demand for healthy lunches was boosting business.
Pret’s chief executive, Clive Schlee, said the its bestselling products last year were porridge and bananas and that the company now sells more cold-pressed vegetable juices than club sandwiches.
The chain, which founded in London in 1986, said sales climbed 15% to £510m last year, pushing profits up 9% to £67m.
Increasing numbers of customers want to eat on site, so Pret is shutting smaller takeaway outlets and opening larger ones with seating. Last year it opened 40 new outlets. Twenty-six were in the UK, with a focus on larger premises in regional towns, seven were in the US, two in Hong Kong and five in France. About 600 new staff joined the business.
The company, which hands unsold food to charity at the end of each day and also raises cash for the homeless, was bought by the private equity firm Bridgepoint in February 2008 and last year secured £375m of new bank facilities.