// Greggs says shopper behaviour have not changed despite the cost-of-living crisis
// The bakery chain increased prices in mid-May but plans to open new stores thanks to demand
Greggs price rises have not put off customers who still see the bakery as great value.
The bakery chain, which plans to open 150 new stores this year, increased its prices at the back end of 2021 and further increased prices in mid-May this year with its infamous sausage roll rising by 10p to £1.15.
New chief executive Roisin Currie, who took over from Roger Whiteside in May, said said it had not seen a downturn in customer behaviour despite the cost-of-living crisis, which is creating a dent in many retailers’ trading.
Currie said that Greggs would keep its prices under review.
“We are constantly watching the competitive market and we’re constantly managing the cost inflation that we’re having to deal with,” she said.
“We’re not at all complacent in terms of how important pricing is for customers. We want to dial up some of the great value that we offer. We haven’t seen any change as of yet in shopping habits.”
Greggs unveiled a 27.1% sales rise to £694.5 million in the half year to 2 July. Currie said the chain’s £3.50 meal deal plays a huge success in its increased transactions.
She said: “We really do try and make sure that we’re offering those really great quality deals to our customers. Value will continue to be our focus.”
Despite the surge in sales, Greggs unveiled flat profits over the half, which it said reflected the re-introduction of business rates, increase in VAT and higher levels of cost inflation.
It also appointed former Tesco boss Matt Davies as its new chair. He joins the board with immediate effect, and will be appointed as chair in November, when the current chair Ian Durant, steps down.