Greggs, the bakery chain, says it expects to open 150 internet new shops this 12 months regardless of persistent headwinds from pay rises and power prices.
The firm, greatest recognized for its sausage rolls and steak bakes, stated that it anticipated challenges from excessive inflation to stay all through 2023 whereas revealing upbeat gross sales figures for its final monetary 12 months.
It reported like for like gross sales development in company-managed outlets of just about 18%, taking revenues above £1.5bn throughout 2022.
Pre-tax earnings got here in virtually 2% increased at £148.3m.
They had been harm by increased ingredient, power and workers prices as pay will increase mirrored the elevated ranges of inflation.
Greggs stated it achieved a report 186 new store openings over the 12 months and closed 39, taking its property to 2,328 outlets.
The chain stated it aimed to raised the 147 internet openings achieved final 12 months throughout 2023 and stated it had ambition to take its whole to three,000 outlets.
It reported that commerce had been bolstered by deliveries and night commerce – with the likes of pizzas and rooster goujons proving fashionable when it comes to development regardless of the persevering with squeeze on shoppers’ budgets from the price of dwelling disaster.
Shop gross sales had been greater than 18% forward of final 12 months throughout the first 9 weeks of 2023, it added, however stated the determine was considerably flattered by a troublesome comparability as a result of influence of Omicron varient COVID disruption initially of 2022.
Chief govt Roisin Currie stated: “2022 has been a year of strong progress for Greggs, the result of committed efforts to deliver our strategic growth plan.
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“The important alternatives on which the plan relies will stay centre stage within the 12 months forward as we make Greggs extra accessible to much more prospects.
“Although consumer incomes remain under pressure, Greggs continues to offer exceptional value to people looking for great tasting, high-quality food and drink on-the-go.
“We have an thrilling, bold plan for the years forward and, by persevering with to nurture what makes Greggs particular, I consider we’re extraordinarily well-placed to grasp the chance to develop into a considerably bigger, multi-channel enterprise.”
Source: information.sky.com”