In its latest financial results, the bakery chain confirmed it opened a record 226 new shops in 2024 with 28 closures and 53 relocations
Greggs has issued an update on future store openings after revealing a jump in sales and profits in 2024.
In its latest financial results, the bakery chain confirmed it opened a record 226 new shops in 2024 with 28 closures and 53 relocations. Greggs also refurbished 165 existing shops. The sausage roll chain is targeting 140 to 150 net openings in 2025, including 50 relocations, as part of long-term plans to open more than 3,000 UK shops.
Greggs has 2,618 shops at the end of December 2024. But it isn’t all good news – Greggs also raised prices over the last year. We reported last month how the bakery chain has increased the price of its sausage roll by 5p, to £1.30. It marks the second time in six months that Greggs has upped the price of its sausage roll, after it rose from £1.25 from £1.20 last year.
Greggs generated sales topping £2 billion – up by 11.3% from 2023 – helped by new store openings, longer opening hours and the roll-out of delivery services. But Greggs said many customers were continuing to worry about the cost of living including energy prices, mortgage and rent costs.
Chief executive Roisin Currie said consumer confidence remains low into 2025, and there was an ongoing trend of people “saving more than spending”. She told PA news agency: “It’s been a challenging winter and I think we’ll continue to see that for the time being, and as we go through this year hopefully consumer confidence starts to strengthen.”
Ms Currie insisted there were no “firm plans” for further increases, although she added: “Unfortunately we have stayed in an inflationary environment, so therefore we have to make sure we react appropriately across the balance of the year.”
The group made a pre-tax profit of £203.9 million for the year, 8.3% higher than in 2023. About 10% of this will be shared across eligible employees – those who have worked for Greggs for at least six months – through the group’s profit-share scheme. Ms Currie told PA that long-serving staff – those who have done more than six years service and work more than 20 hours a week with the chain – will get around £850 extra at the end of March.
