// Greggs sales rise compared with 2019 levels thanks to “ambitious strategic plan”
// Total sales rose 5.3% to £1.2 billion in the 52 weeks to January 1
Greggs has recorded a rise in sales after being “well placed to execute its ambitious strategic plan”.
The bakery chain said total sales rose 5.3% to £1.2 billion in the 52 weeks to January 1, 2022, compared with 2019 levels.
Greggs said the sales rise is attributed to its “strong team”.
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Like-for-like sales in company-managed shops dropped 3.3% compared with 2019 levels.
It also recorded a pre-tax profit of £145.6 million, compared to a £13.7 million loss in 2020.
Greggs opened 131 new shops in 2021 and closed 28 shops.
It is considering opening 150 new shops this year and extending its delivery reach from 1,000 to 1,300 shops to complement evening availability.
“Our results and achievements in 2021 show that we have emerged from the pandemic both stronger and better as a business,” Greggs chief executive, Roger Whiteside said.
“We have started 2022 well, helped by the easing of restrictions. Cost pressures are currently more significant than our initial expectations and, as ever, we will work to mitigate the impact of this on customers, however given this dynamic we do not currently expect material profit progression in the year ahead.
“Despite these near-term pressures, we continue to believe that the opportunities for Greggs have never been more exciting.
“Our investment over recent years has left the business well-placed to move quickly as the economy recovers and we drive our ambitious plans to become a larger, multi-channel business.”
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