UK bakery chain Greggs plans to open 150 new UK stores this year, as the food-on-the-go retailer reported rising sales and profits despite inflationary pressure.
Greggs announced on Tuesday it would focus its expansion of its store footprint in retail parks, city transport hubs and drive-through outlets, bringing the company closer to its target of increasing its estate to more than 3,000 shops.
The expansion plans follow a year of strong trading despite “significant inflationary pressure”, the bakery chain said. Greggs posted like-for-like sales growth of 17.8 per cent year on year, pushing total sales up to £1.5bn, while pre-tax profits rose by 1.9 per cent year on year to £148mn.
Roisin Currie, Greggs’ chief executive, said the retailer’s growth plan would “remain centre stage in the year ahead as we make Greggs more accessible to even more customers”.
“Although consumer incomes remain under pressure, Greggs continues to offer exceptional value,” she added.