Pret A Manger Ltd. annual gross sales topped £1 billion ($1.32 billion) final yr because it opened extra outlets abroad, together with throughout the US.
The sandwich and occasional store chain mentioned £1 in each £4 spent at Pret is now exterior the UK, due to enlargement into key markets like New York and international locations together with India and Italy.
Gross sales in 2023 rose 22% to £1.1 billion because the chain additionally pushed additional into suburbs in its house market, with outlets at motorway service stations and cities together with Bradford.
Pret opened its first web site in London in 1986. The model, now a part of JAB Holding Co., has 690 outlets globally throughout 18 markets, together with the US, Europe and Asia.
Within the first half of this yr, Pret mentioned gross sales had risen 10% in comparison with a yr earlier to £569 million. It comes because the chain has lowered costs on a few of its top-selling gadgets, after pushing up costs on some choices by greater than 40% resulting from rising prices.
In April, Pret introduced again former chairman Larry Billett, who left in 2011, together with co-founder Sinclair Beecham. Billett joined the board as a non-executive director, and Beecham is an adviser. On the time, the chain mentioned it will introduce a plan to convey down its debt pile constructed up through the pandemic.
In an announcement, Pret mentioned it had raised £250 million of latest capital this month, to scale back debt and enhance liquidity.
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