Greggs enjoyed strong trading in 2022 with total sales surging by 23% year-on-year to £1.5 billion.
The food-to-go retailer also posted like-for-like sales growth of 17.8% as its pre-tax profits edged up 1.9% to £148.3 million. Trade was boosted by longer opening hours and the popularity of the retailer’s pizzas and chicken goujons.
During the period, Greggs opened a record 186 new shops to take its total estate to 2,328 at 31 December. This included expanding its presence in retail parks, Central London and key transport hubs, with shops opening in Leicester Square, Liverpool Street Station and Birmingham and Liverpool airports.
The company is now aiming to have 150 net openings in 2023 and sees a clear opportunity for “significantly more” than 3,000 UK shops in time.
Giving an update on more current trading, Greggs said like-for-like sales in company-managed shops were up 18.8% in the first nine weeks of 2023, which was in line with expectations.
