High street baker Greggs says there was high demand for its festive bake - and its vegan version - in the run up to Christmas.
The Newcastle-based company reported a 23% surge in sales last year to £1.51bn and said the festive season had been strong despite the impact of snow and rail strikes. It also said customers were increasingly buying in the early evening and were hungry for its shop-baked sweet mince pies along with festive hot drinks including the salted caramel latte.
That is despite Greggs saying shoppers were "clearly" experiencing cost-of-living pressures and the chain making several price increases to some of its key products during the year, including to the sausage roll which had started 2022 at £1 and now costs £1.20. In an update for shareholders the firm said more of its customers were using its app where they could access loyalty rewards, click and collect services, nutritional information and delivery options.
Read more: 5 things you didn't know about Greggs, from a former team member in both Gateshead and Leeds
The bakery giant continued its steady growth last year with 186 new shop openings, offsetting 39 closures. It means the brand now operates 2,328 shops across the country - with plans to open another 150 this year.
Earlier this week ChronicleLive revealed plans to open a third 'Tasty by Greggs' themed cafe in the Northumberland Street Primark store in Newcastle. It comes a year after the announcement of a collaboration with Primark, to launch a limited edition fashion collection as well as the world’s largest Greggs cafe inside the Birmingham store.
In the trading update, Ms Currie said: "I am proud of the progress Greggs made during 2022 in challenging conditions. Our teams did a magnificent job serving customers and managing the growing demand for Greggs products as we expand our shop estate and offer greater availability through digital channels and longer trading hours, whilst continuing to extend our menu to offer more choice.
"We enter 2023 in a strong financial position that will enable us to invest in shops and supply chain capacity to bring Greggs to even more customers across the UK. While market conditions in 2023 will remain challenging, our value-for-money offer of freshly-prepared food and drink is highly relevant as consumers look to manage their budgets without compromising on quality and taste."
READ NEXT:
