Greggs has just announced it is to open 150 more branches across the UK and extend its opening hours — which will include 24-hour drive-thrus.
The openings are set to take place this year as part of major plans to expand after the chain recorded bumper profits in 2022 despite the cost of living crisis. It will offer a 24-hour drive-thru service as a trial operating at selected sites.
The high street bakery is known for its value among workers hunting for food that won’t break the bank on their lunch breaks.
However, the chain has put its prices up several times over the last few years blaming rising costs for its decision. The cost of ingredients to make Greggs’ pastries has been rising, along with energy bills and staff’s wages.
Kake / Flickr
In January it increased the price of a sausage roll from £1.15 to £1.20 — which is the fourth price rise since 2021 when the snack cost just £1. Greggs, which currently has around 2,300 shops, aims to open more branches in airports, train stations, shopping centres and supermarkets under the new plans.
It said it hopes to expand its number of branches to over 3,000 in the coming years.
After making profits of £148.3m last year, Greggs put it down to the ‘value’ it was offering its customers impacted by the cost of living crisis. Last year, the opening hours of 500 shops were extended to 8pm or later and this year it plans to extend opening hours in 300 shops to 9pm.
Greggs was first founded by John Gregg in the late 1930s when he began delivering yeast, eggs and confectionery on his bicycle to homes around mining terraces in Newcastle. The company then opened its first shop on Gosforth High Street in 1951 and the firm has gone on to become a household brand.
Mike Peel / Wikimedia
As reported by LBC, chief executive Roisin Currie said: “2022 has been a year of strong progress for Greggs, the result of committed efforts to deliver our strategic growth plan.
“The significant opportunities on which the plan is based will remain centre stage in the year ahead as we make Greggs more accessible to even more customers.
“Although consumer incomes remain under pressure, Greggs continues to offer exceptional value to people looking for great tasting, high-quality food and drink on the go.
“We have an exciting, ambitious plan for the years ahead and, by continuing to nurture what makes Greggs special, I believe we are extremely well-placed to realise the opportunity to become a significantly larger, multi-channel business.”