Let the people eat cake (and sausage rolls)! Fast-growing bakery firm’s simple recipe for success

 

Hoping to open up to 160 new stores in 2024 - Greggs chief executive Roisin Currie

BUMPER trading figures have been reported by rapidly-expanding pastries retailer Greggs which has three outlets in Grimsby, one in Cleethorpes and one near Laceby.

Over 2023, the Newcastle-based firm saw total sales at its 2,473 shops nationwide rocket by almost 20 per cent to £1,089-million.

Easing of inflationary pressures and extended trading hours at some of its stores helped stimulate growth.

Enthuses chief executive Roisin Currie: "Our value-for-money products and the quality of our freshly prepared food and drink position us well for further progress in the year ahead."

Star products over the festive trading period included chocolate orange muffins and Christmas lunch baguette as well as shop-baked mince pies.

Throughout the year, pizza and pastries, such as sausage rolls, also continued to perform strongly during the day and into the evening.

Management says the pipeline of new shop opportunities remains strong, and the company expects to open between 140 and 160 net new shops in 2024. 

Whether, new outlets will open locally - perhaps in Immingham - remains to be seen.

Supporting its own estate, Greggs also has franchise partners in  motorway service areas, petrol filling stations, educational establishments and smaller high street convenience locations. 

It says that currently it is unable to offer one-off franchise agreements, but it is open to approach from corporate partners with the ability to "deliver ten or more shops over a given period of development".

Why do the outlets not sell its sausage rolls and pasties hot? 

Back comes the reply: "If kept hot after having been baked,  then they would be subject to VAT and the customer would have to be charged a higher price."

On an ethical note, Greggs says all of the eggs and mayonnaise used in its sandwiches are free range and UK supplied. 

It says proudly: "We insist on high standards of animal welfare from all of our suppliers."

"We hold the Good Egg Award from Compassion in World Farming, who highlight Greggs as 'a model for good practice'."

The Greggs store on St Peter's Avenue, Cleethorpes 

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