Britain’s popular and profitable sandwich chain, Pret a Manger, is planning to add eight to its existing 11 outlets in Paris and to open a further eight in the US as well as its first in Shanghai.
The company is on a roll, capitalising on a trend of eating ‘on the go’ which has lead to a 16% increase in sales to £594m, with profits around £76m.
Its introduction of more hot foods, such as porridge and macaroni cheese, has boosted sales. But despite 50,000 hot macaroni boxes flying off the shelves every week, its chief executive Clive Schlee admitted the most frequently sold items were bananas and croissants and the most money is made from selling coffee.
He also indicated that Pret has the solution to Britain’s expanding weight problem.
He said: “If everyone ate Pret food in Britain there would be no obesity problem”.
This was in response to criticism that its cheddar and artisan bread sandwich has more calories than a McDonald’s quarter-pound burger with cheese and nearly half the daily saturated fat limit.
He said Pret’s sandwiches were “full of good minerals” and cutting the calories in its sandwiches would reduce the taste.
The chain, owned by the private equity firm Bridgepoint Capital, is carrying heavy debts. It negotiated £375m in refinancing two years ago, paying a £150m dividend to its owner and founders. It gave its staff a bonus in October when sales reached £10 million a week in the UK.
Pret a Manger has 374 shops and plans a further 25 this year in Britain.
