The company says it expects to see an impact from elevated levels of inflation throughout 2023 but it says its value offer is proving attractive as the cost of living crisis continues.
Greggs, the bakery chain, says it expects to open 150 net new stores this year despite persistent headwinds from pay rises and energy costs.
The company, best known for its sausage rolls and steak bakes, said that it expected challenges from high inflation to remain throughout 2023 while revealing upbeat sales figures for its last financial year. It reported like for like sales growth in company-managed shops of almost 18%, taking revenues above £1.5bn during 2022.They were hurt by higher ingredient, energy and staff costs as pay increases reflected the elevated levels of inflation.said it achieved a record 186 new shop openings over the year and closed 39, taking its estate to 2,328 shops.
The chain said it aimed to better the 147 net openings achieved last year during 2023 and said it had ambition to take its total to 3,000 shops. It reported that trade had been bolstered by deliveries and evening trade - with the likes of pizzas and chicken goujons proving popular in terms of growth despite the continuing squeeze on consumers' budgets from the
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