Pho to continue expansion in 2024
Pho is planning to open between six and seven new restaurants in 2024, following a strong 12 months for the Vietnamese restaurant concept.
The chain – which operates 40 sites across the UK – has already lined up several new openings over the next few months, Propel has reported.
Pho will open its second site in Scotland, taking the former Moss Bros store in Glasgow city centre, following a successful opening in Edinburgh’s St James Quarter.
Work is already underway for Pho to open at the former Doner Shack unit in London’s Baker Street in April, whilst another restaurant is set to open at the former RBS bank unit in Norwich in the early summer.
Pho opened six restaurants over the past year, including in Canary Wharf, Canterbury, Fulham Broadway, Liverpool Castle Street, London Bridge, and Milton Keynes.
This comes as Pho reports a strong year of trading, with sales for the year ending February 2024 expected to reach over £72m, up from £58m a year prior. Despite challenging economic conditions, the chain reported a 7.3% increase in like-for-like sales for the 11 months ending 14 January.
Patrick Marrinan, Pho managing director, said: “There has been a lot going on this year which has impacted growth in the restaurant sector, most of which is beyond our control, so I’m incredibly proud of the way we’ve managed to ride the storm to deliver another strong year. On top of that, we’ve opened six great sites, bringing Pho to new customers up and down the country, and we’re primed to continue our growth story over the next 12 months.”