Greggs targets 150 new stores in 2025 after sales pass £2bn
Greggs is targeting between 140 and 150 net store openings in 2025, following a year which saw the bakery chain record sales of more than £2bn for the first time.
The operator opened a record 226 new stores in 2024 with 28 closures and 53 relocations, growing its estate to 2,618 locations as of the end of December. It also refurbished 165 existing stores.
Greggs said it continues to see clear opportunity for significantly more than 3,000 UK shops in the long term.
During 2024, Greggs recorded £2.01bn of total sales, a year-on-year increase of 11.3%. The operator saw its underlying operating profit for the year grow to £195.3m, up 13.7% compared to 2023.
Roisin Currie, chief executive of Greggs, said: “2024 was another record-breaking year for Greggs; we exceeded £2 billion in sales for the first time and opened our 2,600th shop. Our people have worked tirelessly to deliver on our strategic ambition to further establish Greggs as a multi-channel food-to-go retailer and I want to acknowledge their efforts. It is thanks to their hard work, week after week, that we continue to grow, all the while maintaining the great prices, high-quality products, and friendly service that keep our customers coming back, again and again.
“In 2021, we set our sights on doubling sales by 2026 and having a significantly bigger business over the longer term. Three years into this five-year plan, sales are on track and we continue to be confident in the growth opportunity in front of us. The brand is in better shape than ever, with a material opportunity to continue growing and developing the Greggs estate and plenty of scope to continue to grow in newer dayparts and channels.”