Pret a Manger sales plunge to below a third of pre-pandemic levels in the City ...

Pret a Manger sales plunge to below a third of pre-pandemic levels in the City ...
Pret a Manger sales plunge to below a third of pre-pandemic levels in the City ...

Sandwich bars and cafes in London's main business districts are experiencing their worst trading in over six months, according to a closely watched survey, raising fears about the health of the UK's wider £15billion grab-and-go industry.   

Figures from Bloomberg's 'Pret Index' - named after the popular chain Pret a Manger - show sales at the firm's stores in the City of London and Canary Wharf fell to below a third of pre-pandemic levels last week.

Excluding the weeks during Christmas and Easter holidays, when footfall figures are typically smaller, this is the lowest level since March 2021 - when the country was in lockdown.

The figure has been put down to big banks and law firms in the Square Mile asking staff to work from home following Government advice set out last month in a bid to curb the spread of Omicron.

While the index measures transactions at Pret's stores in major cities across the world, including London's business districts, it is viewed as a snapshot of the health of the wider cafe and grab-and-go sector.

And it will heap pressure on the Government to review its working from home guidance in the wake of recent analysis showing Omicron is less severe in term of chances of needing hospital care.

Cabinet ministers believe lifting the guidance would 'help get the economy firing again' and are already said to be putting pressure on Boris Johnson to end working from home later this month. 

Figures from Bloomberg's 'Pret Index' - named after the popular chain Pret a Manger (pictured: Library image) - show sales at the firm's stores in the City of London and Canary Wharf fell to below a third of pre-pandemic levels last week

Figures from Bloomberg's 'Pret Index' - named after the popular chain Pret a Manger (pictured: Library image) - show sales at the firm's stores in the City of London and Canary Wharf fell to below a third of pre-pandemic levels last week

While the index measures transactions at Pret's stores in major cities across the world, including London's business districts such as Canary Wharf (pictured), it is viewed as a measure of the health of the wider cafe and grab-and-go sector

While the index measures transactions at Pret's stores in major cities across the world, including London's business districts such as Canary Wharf (pictured), it is viewed as a measure of the health of the wider cafe and grab-and-go sector

 

The latest figures come from the so-called Pret Index, which business data and media group Bloomberg has been running since January 2020. 

The index uses weekly sales data, sent by Pret, of its sales across major international cities such as London, New York, Paris and Hong Kong.

The figure shows that sales in the City of London and Canary Wharf - two important districts for big finance and legal firms - was a third of pre-pandemic levels last week.

Daily Covid cases see biggest fall in Omicron outbreak: UK reports 120,821 new infections in 45% fall in a week as expert says Britain is 'closest country in northern hemisphere to exiting pandemic' 

Daily Covid cases fell by nearly 45 per cent in a week today in the biggest drop since Omicron took off — as an expert claimed the UK would be the first country in the northern hemisphere to tame the pandemic.

There were 120,821 new positive tests logged across the country over the past 24 hours, according to Government dashboard data, down from the pandemic high of 218,000 last Tuesday. It marks the sixth day in a row infections have fallen week-on-week and strongly suggests the fourth wave is subsiding in little over a month.  

There is now growing optimism the UK's outbreak will follow a similar trajectory to South Africa's, where the virus has almost completely fizzled out after becoming the Omicron epicentre in November. 

Another 379 Covid deaths were also registered across the UK today, up more than seven times on the low figure of 48 last week. Deaths are always artificially higher on Tuesdays due to reporting lags at the weekend but last week's toll was also affected by the Bank Holiday.

The death rate has remained relatively flat despite Omicron pushing infection rates to record highs, and there are around five times fewer fatalities now than during the second wave last January.

There are growing calls for No10 to learn to live with Covid rather than focus on halting the spread of the virus now there is such a big disconnect between infections and deaths. Final restrictions could start to be lifted this month, it was claimed today.

The promising statistics came as Professor David Heymann, an epidemiologist from the London School of Hygiene and Tropical Medicine (LSHTM), suggested the UK was on the brink of beating the pandemic.

He told an online briefing: 'In general, now, the countries we know best in the northern hemisphere have varying stages of the pandemic. And probably, in the UK, it's the closest to any country of being out of the pandemic if it isn't already out of the pandemic and having the disease as endemic as the other four coronaviruses.'  

Last Tuesday included several days of Covid cases in Northern Ireland, which will have made the weekly drop in infections artificially steeper today. But infections were still massively down in England and London.

 

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The index also shows sales in London stations and airports were also around a half of pre-pandemic levels over the same period.

But sales in London suburbs were only down by around 10 per cent, a sign experts suggest reflects the shift to more people working from home.   

Sales in the West End shopping and entertainment district meanwhile were less than two-thirds of normal last week.

Analysts at Bloomberg wrote: 'Although January is typically a quieter month in the West End than December, when London residents and tourists descend on the area for Christmas shopping, Pret saw four consecutive weeks of declines before the holiday season.' 

Meanwhile, chief executive of Pret, Pano Christou, said businesses that support office workers are struggling more now than at any time because there is no longer any government support.

He said: 'Businesses have depleted funds because of the current pandemic so people are in a worse position than they were 18 months ago.'

It comes as ministers are urging the Government to lift working-from-home guidance due to fears that it is damaging the economy.

According to The Times, ministers want Boris Johnson to lift the guidance by the end of the month.

One cabinet minister reportedly told the paper that they believed removing the guidance, introduced on December 13 amid fears over the spread of the Omicron variant, would 'help get the economy firing'.

This includes the grab-and-go sector, which was forecast to grow to £15billion last year, despite the impact of Covid restrictions and working from home guidance. 

One cabinet minister reportedly told the paper: 'The scientific voices seem to be becoming less doom-laden. 

'If we have to keep wearing facemasks for a bit, then I'm fine with that — ending work-from-home guidance is the important one. It will help get the economy firing.'

It comes as the Prime Minister last week that he hoped Britain would return to something 'much closer to normality' by the end of January.

Current restrictions, known as 'Plan B', are due to expire on January 26. They are

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