Greggs opens nearly 100 stores in the first half of 2024
Greggs opened 99 new stores – including 30 relocations – during the first half of 2024, as the bakery chain continues to expand.
During the period, the operator closed 18 stores, resulting in a net increase in the size of its store estate of 51.
Greggs, which had 2,524 shops trading at the period end, said it remains on track to achieve between 140 and 160 store openings by the end of 2024.
This comes as the operator releases its interim results for the first half of the year, a period during which it recorded total sales of £960.6m, a year-on-year increase of 13.8%.
During the period, which covered the 26 weeks ending 29 June, the group’s company-managed like-for-like sales were up by 7.4%.
This has resulted in an underlying pre-tax profit excluding exceptional items of £74.1 million, representing a year-on-year increase of 16.3%.
Roisin Currie, chief executive of Greggs, said: “Greggs has made good progress in the first half of the year, further broadening our range of on-the-go food and drink whilst making it more accessible to more customers. Our success is founded on the exceptional value that Greggs offers to customers looking for food and drink on-the-go and the fast and friendly service delivered by our colleagues.
“Our cost outlook for 2024 remains unchanged and we continue to trade in line with our plan. The board remains confident in the long-term growth strategy, and we are investing to support that growth.”