Pret A Manger Writes Down Sandwich Chain’s Value as Costs Soar

(Bloomberg) – Pret A Manger Ltd. was lost after writing the value of the British sandwich chain more than half a billion pounds in the midst of challenging trade conditions and higher costs.

The brand, also known for its organic coffee and freshly cooked pastry works, reported a loss of activity in 2024 ($ 612 million) in 2024 compared to a profit of £ 28 million of the previous year, according to a company home on Tuesday. In 2018, investment company Jab Holding Co. For the first time since it was purchased by 553 million £ 553 million, it was involved in a non -cash value.

The movement reflects additional operating costs from the income -increase budget, which includes the uncertainty in the global economy and the national insurance contributions of higher employers’ national insurance contributions.

Pano Christou, Chairman of the Executive Officer, said that the hospitality industry was under “intense” tension and Pret managed to absorb approximately £ 25 million in labor, food and operational costs. Retail data company WorldPenel last month, acceleration food inflation gives its weight over British consumers, and many of them lead to buy more branded grocery products in supermarkets rather than eating out.

Speaking with reporters, Christou described the deterioration as an accounting term that is not completely reflected in how the business performance.

The latest results report that Jab Holding, who bought a chain before Pret’s pandemic locks, is investigating a potential public offering for the brand.

“There is definitely a public offering potential for a public offering,” President Jose said to journalists. “There are several different vehicles available for the company.”

Pret’s sales increased by 10% last year and shoppers continued to visit the shops of the chain around the world. The brand opened more sales points in 21 markets, including the USA, Europe and Asia, to a total of 717.

Despite the challenges in the UK, Pret is trying to “double ıyla with the goal of growth to approximately 1,000 to 1,500 from 500 places by focusing on city centers and transportation centers. It aims to reach more than $ 1 billion in the USA.

“Instead of trying to be everything for everyone, he returns to the nucleus of the brand, returns to the foundations and makes us famous, C

Pret pursues a new store format for city centers with a wider, seating environment and foods made for ordering.

In addition, the food agreement plans to test the formats of the year. In July, the launch of larger, nutrient -filled salads, called super plates, made more customers visited in London, where Pret opened its first site in 1986.

The brand competes with the rival British oven chain GregS PLC, which declares a decline in profit in July and adds that it may be vapor to investor concerns. Known for sausage rolls and steak ovens, the company talked about lower foot drop, weather deduction and higher costs.

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