Pret

Gloucester Quays sees 7.4% sales uptick in FY24

Gloucester Quays has announced a “record” Christmas trading with sales a 7.4% sales increase in FY24, 6.7% ahead of the national average. With Black Friday falling on November payday in 2024, and some retailer offers in advance of that date, the Christmas period proved successful for Gloucester Quays’ tenants.  Across…

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Today’s news in brief-17/9/24

THG (The Hut Group) has announced plans to potentially demerge its technology arm, THG Ingenuity. This move follows the group’s interim results for the half-year ending June 30, 2024, which showed a 1.6% rise in adjusted EBITDA despite a 3.6% decline in year-on-year sales. THG Ingenuity saw a notable 12.6%…

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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…

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Today’s news in brief-12/8/24

Asda’s chair, Lord Rose, expressed embarrassment over the supermarket’s recent performance, citing a 5.3% drop in like-for-like sales and a market share decline from 14.8% to 12.7%. He suggested it might be time for co-owner Mohsin Issa to reduce involvement. Asda has initiated a £50m store upgrade and £30m investment…

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Pret hands out body cams to staff amid rise in retail crime

Pret A Manger has dished out body cameras to its staff amid a surge in shoplifting cases and attacks on retail workers in the wake of the pandemic, according to the Telegraph. The coffee shop chain has reportedly launched a trial of the body-worn cameras in six of its London…

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Today’s news in brief-24/4/24

Bérangère Michel, the executive director of finance for the John Lewis Partnership, is resigning after 16 years with the company. She is leaving to explore new career opportunities, having played a vital role in enhancing the business’s financial performance. Her departure prompts a recruitment process for her replacement, expected to…

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Pret co-founder returns amid board shakeup

Pret a Manger has announced that its co-founder Sinclair Beecham will return to the company in an advisory role as it reshuffles the makeup of its board. Olivier Goudet, who has been chairman since JAB’s acquisition in 2018, will step down and be replaced by his colleague Konrad Meyer. Meyer…

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Today’s news in brief-23/10/23

John Lewis is facing criticism from city planners over its affordable housing plans. Initially, the company aimed to make 20% of the housing in its Bromley development affordable. However, recent revelations indicate that only 10% of the flats will be designated as affordable. The Greater London Authority’s Planning Unit deems…

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Pret accelerates US expansion with new partnership

Pret A Manger has announced a new joint venture (JV) partnership with existing franchisee, Dallas International (Dallas), accelerating its expansion plans in the United States. The group said it is a key growth market in which it intends to expand further through a combination of new equity shops and additional…

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Pret A Manger hikes price of coffee subscription as it expands offering

Pret A Manger has increased its monthly coffee subscription by 20% to £30 per month and expanded it to include a discount on all of its freshly made food, snacks and drinks. It said existing coffee subscribers will automatically become part of ‘Club Pret’ and their current monthly price of…

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