Pret's coffee subscription service comes to the U.S. as Starbucks celebrates pumpkin spice day
alvarobueno/iStock Editorial via Getty Images
Pret A Manger is bringing its UK monthly coffee subscription service to the U.S.
In the UK, where it originated, the monthly subscription costs 30 pounds ($38) for up to five barista-prepared drinks per day and a 10% discount on food, snacks and other drinks. The service in the UK saw nearly 18 million redemptions since April, when it rebranded to Club Pret, up more than 30% compared to a year earlier.
International expansion has been a key driver of growth for Pret, the firm said in a July press release. Pret operates in 15 markets on three continents and expects to have over 700 shops worldwide by the end of 2023.
That pales in comparison to the behemoth that is Starbucks Corporation (NASDAQ:SBUX). In the most recent quarter alone, the rival coffee chain said it opened 588 net new stores. SBUX ended the period with a record 37,222 stores globally. 
Pass the PSL, please
Today, the Seattle-based chain marks the 20th seasonal debut of pumpkin spice latte. The highly-successful drink was almost discontinued and there was a temporary shortage of ingredients in 2012, which caused news outlets to declare a âPumpkin Emergency.â
For the fiscal fourth quarter last year, the pumpkin spice "platform" grew 17% year-over-year, executive Sara Trilling said on an earnings call in November.
SBUX recently reported global comparable store sales up 10% during the fiscal third quarter, missing the estimated 11.1% increase. Total revenue was up 12.9% during the quarter to $9.2B.
The mermaid-branded coffee chain has one Strong Buy rating from Seeking Alpha analysts, seven Buys and four Holds.
Shares of SBUX are down 5.9% year-to-date.

More on Starbucks

Starbucks: Just Had A Record Quarter
Starbucks Fiscal Q3: Laughing All The Way To Its Bank
Starbucks Q3 Earnings: This Stock Is A Hold Forever

Starbucks Corporation (SBUX) Q3 2023 Earnings Call Transcript
Starbucks talks China upside and customization trends on earnings call
Starbucks misses comparable sales estimates after North America transactions stall
Seeking Alphaâs Quant Rating on Starbucks
Earnings data for Starbucks
Dividend scorecard for Starbucks