On a roll: Greggs to open up to 160 new shops in 2024
Greggs has revealed plans to open between 140 and 160 new shops in 2024 after a "record" year of openings in 2023.
The Newcastle-based bakery chain opened 220 new sites and closed 75 shops in the last year, taking its total number of trading sites to 2,743 at the end of the year. This included 1,970 company-managed shops and 503 franchised units
In its Q4 trading update, Greggs reported total sales of £1.8b for the 52 weeks ended 30 December 2023, up 19.6% from £1.5b in 2022.
Company-managed shop like-for-like sales also rose by 9.4% in the fourth quarter, boosted by strong Christmas trading and a rise in demand for the Greggs festive bake, chocolate orange muffin and Christmas lunch baguette.
The chain said sales of pizzas continued to perform strongly during the day and into the evening.
Greggs also expanded its delivery footprint last year, with 710 of its shops now available via Uber Eats, alongside its existing partnership with Just Eat.
Roisin Currie, chief executive of Greggs, said: "2023 was a year of further progress by Greggs. I am proud of our teams, who did a fantastic job serving more customers as we continue to grow our shop estate and offer greater availability through digital channels and extended trading hours.
"We enter 2024 with plans to continue to invest in our shops and expand supply chain capacity to deliver the growth strategy, supported by our strong balance sheet. Our value-for-money offer, and the quality of our freshly prepared food and drink continue to evolve and position us well for further progress in the year ahead."
Image: Shutterstock/Wozzie
