Pret A Manger FY global sales hit £1.1bn for first time

Pret A Manger has reported a 10% increase in first-half sales to £569m, whilst also revealing that global sales hit £1.1bn for FY23 for the first time, following its expansion into overseas markets.  

Pret confirmed that it achieved its medium-term growth target during FY23, which was set in 2021. The group aimed to double its size within five years, but instead delivered on the target three years ahead of schedule.

Meanwhile, the group has attributed its first-half performance to its continued expansion into 18 new markets, as well as positive same-store sales growth across both company-owned and franchise shops. 

According to Pret A Manger, franchising now represents around a third of its global sales. 

Earlier this year, New York became “the overseas capital” for Pret customers outside the UK, with the highest sales after London, after a deal with Dallas International was officially completed in February. 

The deal is currently helping Pret grow across the US through refurbishing existing shops. Pret has over 10 new shops planned on the East Coast by 2026. 

Meanwhile within the UK, Pret has agreed a new partnership to open six new shops across Scotland and now has 10 shops across Ireland. 

Since January 2023, some 87% of new Pret openings have been outside of London.

Pano Christou, chief executive of Pret A Manger, 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.

“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.” 

He added: “I want to thank all our team members for everything they do to help bring the joy of Pret to our customers, and look forward to taking Pret to even more people, in more places, next year.”