Greggs, the popular bakery chain, has reported a significant increase in sales in recent weeks as it continues its expansion across the UK and introduces a new autumn menu featuring pumpkin spice-inspired treats. The company has opened over 150 new shops this year, contributing to a sales growth of 10.6% over the 13 weeks leading up to September 28 compared to the same period last year.
September proved to be the strongest month of the quarter for Greggs, coinciding with the launch of its autumn menu. This seasonal offering includes items such as the pumpkin spice latte, salted caramel latte, and a newly introduced pumpkin spice doughnut. Sales in company-managed shops, excluding franchises, saw a 5% increase from the previous year on a like-for-like basis, which adjusts for the impact of new store openings.
With plans to open between 140 and 160 new shops on a net basis in 2024, Greggs is on track for further expansion. As of the end of September, the chain had close to 2,560 stores nationwide. Recent openings include two drive-thru sites in Bristol, a strategic move to cater to customers on the go.
The company anticipates an overall cost inflation of around 4% for the year, which is at the lower end of its projected range. Greggs credits the stabilization of inflationary pressures to fixed costs, such as energy expenses, moving forward.
In conclusion, Greggs’ strong sales performance and ongoing expansion plans signify a positive outlook for the bakery chain as it continues to innovate and attract customers with seasonal menu offerings and strategic store openings.