Greggs to roll out new stores along with a 24-hour drive to venues after sales soared 23% to a record £1.5billion in 2022
Greggs has unveiled ambitious expansion plans after posting record sales as consumers flock to the bakery chain for sausage rolls and other inexpensive foods.
The group plans to open 150 stores a year, increasing its park from nearly 2,330 sites to more than 3,000.
And in addition to extending opening hours, there are plans to test 24-hour drive-thru sites.
Greggs plans to open 150 stores a year, growing its fleet from nearly 2,330 locations to more than 3,000
The expansion plans came as Greggs saw a 23% rise in annual sales to a record £1.5billion in 2022.
Profits edged up 1.9% to £148.3million as it grappled with soaring ingredient and energy prices as shoppers tightened their belts.
Greggs said there was a “clear opportunity for many more than 3,000 UK stores” in the coming years. It currently operates 2,328 stores.
It plans to open up to ten more drive-thru stores this year after opening sites in Kent and Cumbria.
Managing Director Roisin Currie said: “Customers are looking for great quality and great value, and that’s exactly what we deliver. It’s just that easy way to fuel yourself when you’re on the go and need to eat.
Currie said Greggs would try 24-hour drive-thru sites this year, though she didn’t name the locations.
Some 186 new stores opened last year, in places such as train stations, airports and shopping parks. And 39 stores were closed.
Another 300 stores will have their opening hours extended until 9 p.m., after the chain extended the opening hours of hundreds of stores last year.
Later opening hours would help Britons who cannot work during the day to join the job market, Currie added.
Greggs “reluctantly” introduced price hikes last year to ease inflationary pressures.
Its popular sausage roll now costs £1.20, down from £1 at the start of 2022. Shares fell 2.2%, or 60p, to 2,690p.
