(qlmbusinessnews.com Tues, 3rd Oct, 2023) London, UK —
Greggs Reports Remarkable Sales Surge of Over 20% in Latest Quarter.
Greggs, the iconic bakery chain with origins dating back to its first shop in Newcastle in 1951, has reported a substantial increase in sales, up by over a fifth in the latest quarter. The company also noted a moderation in cost inflation across its operations.
During 2023, Greggs expanded its footprint by opening 82 net new stores, bringing the total number of outlets in the UK to 2,410. In terms of financial performance, the company informed shareholders that total sales for the 13-week period ending on September 30th surged by 20.8% compared to the same period in the previous year.
Over the past year, Greggs opened 144 new stores while closing 62 others. The company has plans to continue its expansion by opening between 135 and 145 new shops throughout the entirety of 2023.
Additionally, Greggs reported an expansion of its evening operations, with sales after 4 pm now accounting for 8.8% of its overall trade. The company has also seen an increase in customers utilizing its app for orders and benefiting from its partnerships with Just Eat and Uber Eats.
Roisin Currie, the CEO of Greggs, emphasized the importance of offering value to customers, especially considering ongoing inflationary pressures in the supply chain. She highlighted that people are seeking value in their purchases, particularly when it comes to convenient breakfast options.
Earlier this year, Greggs announced plans to open 150 new shops and extend its opening hours, with a focus on busy commuter areas. This strategy included the opening of new stores in locations like London's Canary Wharf station and airports in Cardiff and Glasgow.
As Greggs continues to adapt and expand its operations, it remains a popular choice for consumers seeking affordable and convenient food options.
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