All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group
Derivatives

Sandwich Shop Could Increase Swaps Use

U.K. sandwich chain Pret A Manger may increase its use of foreign exchange swaps to hedge currency exposure as the company opens more stores around the globe and more of its revenues are non-sterling. John Clarck, finance director in London, said the company has opened a handful of take-out stores in New York and Hong Kong recently and "we probably will use a bit more [fx swaps] in the future because we are developing overseas."

Pret has used fx swaps in the past but as a small company has not taken out other instruments such as interest-rate swaps. Clarck declined further comment, saying it was too early to talk in detail.

Pret has more than 100 stories in the U.K. and four in the U.S.

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree