Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

AMAZON.COM, INC.

(AMZN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Pret to serve suburbs, stations and motorways in shift from skyscrapers

09/21/2021 | 07:06pm EST
FILE PHOTO: Outbreak of the coronavirus disease (COVID-19) in London

LONDON (Reuters) - Coffee and sandwich chain Pret A Manger plans to double in size over the next five years, replacing a previous UK focus on offices with expansion in regional and suburban areas, transport hubs and motorway service stations.

Urban fast food outlets were hit hard during the COVID-19 pandemic, prompting some to re-think their growth strategies.

Pret, owned by investment group JAB and founder Sinclair Beecham, said on Wednesday it plans to open more than 200 UK shops in the next two years, including 100 franchise shops.

It also intends to enter five new markets in Europe, the Middle East and Asia by the end of 2023 and invest in new digital capabilities.

Pret, as it is commonly known, currently runs 550 shops across five markets, the UK, U.S., France, Dubai and Hong Kong.

Majority owner JAB and Beecham will invest a further 100 million pounds ($137 million), on top of the 185 million pounds they ploughed in to get Pret through COVID.

Pret closed stores and shed jobs during the crisis as revenue slid 58% to 299 million pounds in 2020 and the group recorded an operating loss of 256.5 million pounds.

Many of its UK stores are located close to offices, which were badly hit when people started working from home.

SKYSCRAPER SHIFT

Pret said its recovery plan shifts from "following the skyscraper" to serving more people across the UK and overseas.

"Pret has just under 400 stores in the UK and a lot of our national competitors have 2,000-2,500, so we see that there's huge runway for us to grow the brand," Pret CEO Pano Christou told Reuters.

"We are just broadening our approach to growth," he said.

Pret said that over the last month its trading had gathered pace, with regional shops performing at their strongest levels.

The group's workforce has grown 28% since the start of 2021. It now employs nearly 8,000 globally, including 6,400 in the UK, and is aiming to hire a further 3,000 by the end of 2023.

To help it survive the pandemic, Pret has transformed its operating model and last year launched a subscription service for drinks.

The service was added to the U.S. last week and launches in other markets are planned over the next few months, Christou said.

Pret is also selling coffee lines through Amazon, Waitrose, Sainsbury's, Tesco and Ocado, has delivery partnerships with Deliveroo, Just Eat and Uber Eats and is also trialling shops within Tesco stores.

($1 = 0.7312 pounds)

(Reporting by James Davey; Editing by Alexander Smith)

By James Davey


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.55% 2792.75 Delayed Quote.-16.70%
J SAINSBURY PLC 1.47% 296 Delayed Quote.5.77%
JUST EAT TAKEAWAY.COM N.V. -0.31% 42.27 Real-time Quote.-12.52%
OCADO GROUP PLC 3.41% 1560 Delayed Quote.-10.10%
TESCO PLC 1.42% 300 Delayed Quote.2.04%
All news about AMAZON.COM, INC.
03:04pNational Labor Relations Board Reportedly Claims Amazon Breached Federal Labor Law at N..
MT
02:38pAMAZON COM : earns perfect score for LGBTQ-supportive workplaces
PU
02:18pAMAZON COM : Scientists discover nine new coronaviruses in 11 days using AWS
PU
12:16pAMAZON COM INC : Receives a Buy rating from Goldman Sachs
MD
12:08pNational Labor Board Alleges Amazon Illegally Threatened Staff, Seeks Mandatory Trainin..
MT
09:56aDON'T LOOK UP : Stock Market Denial
09:18aBMO Capital Adjusts Price Target on Amazon.com to $3,600 From $4,100, Keeps Outperform ..
MT
08:57aMARKETSCREENER'S WORLD PRESS REVIEW : January 27, 2022
08:15aCLOUD COMPUTING : The key players to keep an eye on
04:45aAmazon Fined For Over 1 Billion Euro For Abuse Of Dominant Position In Italy
AQ
More news
Analyst Recommendations on AMAZON.COM, INC.
More recommendations
Financials (USD)
Sales 2021 470 B - -
Net income 2021 21 042 M - -
Net cash 2021 38 032 M - -
P/E ratio 2021 68,6x
Yield 2021 -
Capitalization 1 416 B 1 416 B -
EV / Sales 2021 2,93x
EV / Sales 2022 2,46x
Nbr of Employees 1 298 000
Free-Float 82,7%
Chart AMAZON.COM, INC.
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 50
Last Close Price 2 792,75 $
Average target price 4 122,45 $
Spread / Average Target 47,6%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AMAZON.COM, INC.-16.70%1 408 577
JD.COM, INC.1.48%109 790
ETSY, INC.-35.46%17 914
WAYFAIR INC.-24.90%14 915
ALLEGRO.EU SA-5.56%9 458
MONOTARO CO., LTD.-10.03%8 103