Greggs has announced its sales for the 52 weeks ending 1 January 2022 (FY21) increased by 51% to £1.23bn from £811m in 2020, and representing a two-year increase of 5.3% compared with the same period in 2019.
In the fourth quarter of 2021, Gregg’s two-year like-for-like sales in its company-managed shops grew by 0.8%, following “challenging conditions” as consumers responded to precautionary messages relating to omicron. This is also 3.3% lower than seen in 2019.
Greggs said this is “considerable progress” following tough trading conditions due to omicron, and it remains in a “strong” financial position for continued growth in 2022.
Meanwhile, Greggs has also announced its chief executive, Roger Whiteside, will step down from the board at the close of the AGM, but he will remain available to support the transition process until his notice expires on 5 January 2023.
Roisin Currie, currently Greggs retail and property director, will take up the role of CEO designate and executive director with effect from 1 February 2022.
Whiteside said: “We enter 2022 with a strong financial position that will support our ambitions to accelerate the rate of growth in our shop estate whilst developing new digital channels and extending the trading day.
“Whilst conditions in the first few months of 2022 are likely to remain challenging, we are confident that we are well placed to make progress on the many attractive opportunities that lie ahead.”
Currie added: “I am delighted to be appointed as chief executive at a time when Greggs has so much potential ahead of it. Having been a senior executive in the business for twelve years I understand our values-driven approach and the contribution that our 25,000 colleagues make each day.”