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Pret A Manger is ready to tackle UK supermarkets with plans to trial meal offers in a bid to assist increase the chain’s lunchtime commerce.
The sandwich and low chain has mentioned it is going to take a look at the meal deal format within the last three months of this 12 months amid efforts to “double down” on delivering robust worth for purchasers.
Boss Pano Christou mentioned Pret’s precedence will likely be “providing nice worth for cash” as a part of its medium-term technique to develop the model and return to sustainable earnings.
It is going to begin trials from subsequent week, which can embody offers for purchasers to purchase a croissant and a drink, in addition to a deal for a sandwich, drink and crisps.
Pret mentioned it is going to take a look at the offers at completely different costs to see how shoppers react.
Main supermarkets, similar to Tesco, have provided meal offers together with sandwiches, snacks and drinks, for a few years.
Tesco just lately elevated the value of its meal deal by 25p as meals inflation continues to influence on the sector.
It got here as Pret revealed that it fell to a heavy loss final 12 months due to non-cash impairments linked to a reassessment of the corporate by proprietor JAB, which purchased the chain in 2018.
Pret’s newest set of annual accounts confirmed it reported a pre-tax lack of £525.2 million within the 12 months to January 2, after being hammered by £552.9 million write-down in the course of the 12 months. It in contrast with a £61.7 million loss a 12 months earlier.
It’s understood this associated to how JAB assessed the worth of the model, its properties and different belongings linked to Pret.
The corporate mentioned earnings earlier than changes had been up 36 per cent to £98 million for the 12 months.
In the meantime, Pret noticed whole revenues slide by 4.2 per cent to £868.4 million for the 12 months, in contrast with a 12 months earlier.
It mentioned like-for-like gross sales grew by 2.8 per cent because the enterprise continued its worldwide enlargement, rising its retailer property by 11 to 717 outlets.
Pret mentioned it’s concentrating on additional enlargement within the UK and the US, notably round journey hubs and metropolis centres, amid latest development in New York.
Mr Christou, chief govt of Pret A Manger, mentioned he believes the enterprise can develop from 500 UK websites to between 1,000 and 1,500, with plans to develop its presence in roadside areas.
The boss mentioned: “2024 was one other 12 months of development for Pret, the place we took disciplined selections to guard gross sales, regardless of intense strains on the hospitality business.
“Going ahead our precedence will likely be to drive transactions and sustainable development by providing nice worth for cash for Pret prospects.
“Our focus will likely be on rising Pret’s market share within the UK and internationally, prioritising metropolis centres and journey hubs, backed by the expertise and experience of further world-class board members and a strengthened administration workforce.”
