Pret a Manger has achieved profitability for the first time since 2018, driven by the success of its coffee subscription service and its efforts in expanding internationally.
In the year leading up to December 2022, the sandwich chain recorded an operating profit of £50.6 million, a significant improvement from the operating loss of £226 million it experienced during the pandemic.
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GLOPret a Manger has achieved profitability for the first time since 2018, driven by the success of its coffee subscription service and its efforts in expanding internationally.
In the year leading up to December 2022, the sandwich chain recorded an operating profit of £50.6 million, a significant improvement from the operating loss of £226 million it experienced during the pandemic.
Although specific turnover figures for 2022 were not provided, the company reported a 20% sales growth in the first half of 2023, amounting to £429.9 million.
This positive performance was largely attributed to the relaunch of its Club Pret coffee subscription scheme in April 2023, which resulted in record sales weeks in May and June.
Over 600 stores operate under the brand, and its coffee subscription memberships rose to 57.9 million in 2022, up from 34.7 million in 2021.
Pret expanded its presence beyond the capital, with the majority (55%) of new stores opened last year located outside London, including places like Bishop’s Stortford and Worthing.
Furthermore, in May, the company opened its first store in Italy, making it the seventh new country where it has established its presence since September 2021. This expansion aligns with the company’s ambitious plan to double its business size by 2026.
