Pret a Manger sees earnings rise

Sandwich chain Pret a Manger has announced plans to open over 30 shops in the UK and the US this year, creating around 700 new jobs including management roles - news that could be of interest to graduates. The announcement comes as the chain - majority owned by private equity firm Bridgepoint - saw a 37% rise in its core earnings last year, mainly boosted by sales of hot food items such as porridge.
Clive Schlee, chief executive of Pret a Manger, told Reuters: "We haven't seen a particular slowdown since then (the fourth quarter of 2010)." The chain, which has 265 outlets in the UK, US and Hong Kong, reported a 9.8% increase in sales at shops open over a year during 2010. The sandwich chain posted double-digit percentage growth in the first part of 2010. However, it dropped to nearly 5% by the final quarter and has remained around the same level since, Mr Schlee said.
Porridge became the chain's top-selling new product last year, with people buying nearly 50,000 bowls a week.

Graduate-jobs.com
March 11