Greggs sales rise 7.4% to £693m in Q1
During the period, Greggs opened 64 new sites, including 15 with its franchise partners
Greggs has reported that like-for-like sales rose 7.4% to £693m during the first 19 weeks of 2024, as it remains on track to open between 140 and 160 stores for the full year.
The group also progressed its strategic growth plan, with delivery sales, evening trade and increased participation in the Greggs App all supporting transaction volume growth.
During the period, Greggs opened 64 new sites, including 15 with its franchise partners.
Recent shop openings have included sites at Embankment underground station, four shops with Tesco and three with Sainsbury’s, the latter including two petrol filling station locations.
In the year to date, Greggs closed 37 stores – including 23 relocations – giving a total of 2,500 shops trading as of 12 May, comprising 1,986 company-managed shops and 514 franchised units.
In line with its previously-communicated capital expenditure plans, Greggs’ investment projects at its Birmingham and Amesbury distribution centres are progressing well and will deliver additional logistics capacity by the end of 2024.
According to Greggs, it has made a good start to the year with continued like-for-like growth in a “challenging” market.
There has been no change to the outlook for cost inflation, which Greggs expects to be in the range of 4 to 5% on a like-for-like basis. The board’s expectations for the full year outcome are also unchanged.
