Greggs “optimistic” about 2021 growth with plans to to open 100 new stores

Baked goods retailer Greggs has announced it plans to open 100 new stores across the country this year.

The firm, which saw total sales of £811m in the 53 weeks ending January 2, plans to continue the expansion of its store network - despite the challenges posed by the pandemic.

Company-managed shop like-for-like sales in the fourth quarter of 2020 averaged 81.1 per cent of the equivalent 2019 level.

The company’s overall performance was also boosted by a retail partnership with frozen food specialist Iceland to sell Greggs’ bake-at-home goods, as well as the strengthening of the firm’s delivery partnership with Just Eat.

Greggs chief executive, Roger Whiteside, commented: “In a year like no other I am enormously proud of the way in which our team has risen to the challenges we have faced, whilst looking after the interests of all stakeholders and providing support for communities.

“Whilst the impact of COVID-19 has been enormous, we have established working practices that allow us to provide takeaway food services under the different levels of restrictions we have experienced.

“The breadth of Greggs’ customer base provides ongoing demand for our services which, combined with our diverse geographical spread, has demonstrated the resilience of our business.

“In light of the recent Government announcements significant uncertainties remain in the near-term. We have taken action to position Greggs to withstand further short-term shocks and are optimistic about our prospects for growth once social restrictions are lifted.”