Greggs FY sales surpass £2bn mark

Greggs has revealed that it has posted sales of £2.01bn during 2024, for the 52 weeks ended 28 December, the first time the company has passed the £2bn mark.

Despite the 11.3% sales increase Greggs warned that it would raise prices further to offset increased employment costs.

The company reported that its seasonal line, including festive bakes, were in high demand.

Furthermore, Subdued high street footfall contributed to a 2.5% increase in like-for-like sales in company-managed shops.

During 2024, Greggs continued its expansion plans opening 226 new stores and closing 81, leaving it with an estate of 2,618.

It intends to continue its expansion drive in 2025, opening between 140 and 150 net stores which will include 50 targeted relocations.

Roisin Currie, CEO, said: “2024 was another year of good progress by Greggs, with a record number of new shops opened and the £2bn sales milestone surpassed. I’m proud of our teams who, day in and day out, do such a fantastic job for our customers.

“We enter 2025 with a strong pipeline of new shop opportunities, and we continue to broaden our menu and enhance our digital capabilities, whilst also developing our supply chain capacity to deliver our growth strategy.”

She added: “Whilst lower consumer confidence continues to impact High Street footfall and expenditure, our value-for-money offer and the quality of our freshly-prepared food and drink position us well to meet the headwinds we expect to see in the year ahead, and we remain confident in the significant long-term opportunity for growth.”