Greggs expects up to 160 net store openings by end of year
Greggs is anticipating completing between 140 and 160 net store openings over the course of 2024.
This is in line with the operator’s target from earlier this year.
The bakery chain – which operated 2,559 stores as of the end of September – has opened 152 new stores in the year to date and closed 66, including 43 relocations.
This comes as Greggs releases a trading update for the third quarter of 2024, a period during which it continued expanding its drive-through estate, opening site at Abbeywood Retail Park and Harlequin Business Park in Bristol.
During the period, which comprised the 13 weeks ending 28 September, Greggs total sales were up by 10.6%, whilst sales for the year-to-date increased by 12.7%.
Like-for-like sales in company-managed shops were also up, by 5.0% when compared with the same period in 2023.
Greggs said that whilst it acknowledges ongoing economic uncertainty, it expects the full year outcome to be in line with its previous expectations. The chain said it remains confident in the long-term growth opportunity for Greggs, and that it is investing to support that growth.