Greggs to open more stores following profitable 2017

Greggs is planning to open as many as 130 new stores across the country following a 7.4% total sales increase in 2017.

Company-managed shops saw like-for-like sales increase by 3.7% over the year, and in Q4 sales were up by 3%.

Greggs said the sales were driven by its “classic favourites” such as sausage rolls, as well as a demand for its festive bakes and mince pies.

The chain opened 90 stores over the last year and hopes to build on that in 2018 with 110 to 130 new openings.

Roger Whiteside, chief executive, said: “We finished 2017 well, delivering our 17th consecutive quarter of like-for-like sales growth, and anticipate that we will report full-year results for 2017 in line with our previous expectations.

“In the year ahead, we will continue to focus on delivering the outstanding value and taste that Greggs is famous for. 2018 will be a record year for investment in our supply chain and we intend to increase the rate of new shop openings as we continue to grow Greggs as a leading food-on-the-go brand.”