Pret sales hit by rail strikes

Pret A Manger’s sales in London’s financial and shopping district have fallen “sharply”, as coffee, soup and sandwich sales in the City and Canary Wharf were at 62% of pre-Covid-19 levels through Thursday (23 June), according to the latest figures tracked by Bloomberg’s Pret Index.

This is reportedly the lowest level since April and down from the prior week, when sales hit 88% of pre-pandemic levels, as workers and shoppers stayed home to avoid rail strikes and subsequent transport disruption.

Pret’s transactions in London train stations, which had been back to normal, dropped to 78% of pre-Covid levels as a result of train strikes.

Transactions also fell below pre-pandemic levels in the West End arts, entertainment and shopping districts. However, sales in London’s airport terminals climbed again and are now over a third higher than it was before the crisis, despite recent flight cancellations and delays.

Meanwhile, London’s suburban areas saw sales remain nearly a quarter above pre-pandemic levels. Stores in these areas are reportedly benefitting from hybrid working arrangements, particularly last week when many employees chose to avoid transport problems by staying home.

Sales in the cluster that includes Wall Street and Tribeca also fell last week and transactions in New York’s Midtown entertainment and business district slipped from nearly two-thirds of pre-Covid sales to just over half.

Pret’s business in Paris is “still hovering at a pandemic high and just shy of normal”, and transactions in Hong Kong stayed steady as the city continues to recover after being impacted by a surge in infections during the spring.