Greggs has confirmed a surge in sales at the start this year. It comes after the chain opened up a new bakery in Bristol's Primark last week.
Greggs revealed its sales grew by 17 per cent over the start of 2023 compared with 2022. Its cheap meals remain "compelling" to cash-strapped customers who are looking to cut back on spending.
Last Friday (May 12), a new 102-seat Greggs bakery opened at the Primark store in Bristol city centre. It is set to be popular given the success the two chains have shared with the clothes collections and cafes across the nation.
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According to recent statistics, hot food such as chicken goujons and wedges are proving popular, alongside a strong demand for pizza as the retailer moves further into the evening market. Greggs’ chief executive Roisin Currie told the PA news agency that consumers were “loving the versatility” of hot and cold options.
She said: “It’s all about offering that choice, so people can come in more frequently. They can come in time and time again and try lots of different things, as well as they favourites that they love.”
Greggs is expecting sales growth to "normalise" throughout the rest of the year as inflation starts to ease. However, it is still expecting cost inflation to reach around 9 per cent and 10 per cent this year, driven by staff pay pressures and higher energy costs.
The latest Bristol bakery is among 63 new Greggs locations across the UK this year. The chain had over 2,360 sites by mid-May last year, and hinted it wants to eventually reach more than 3,000 across the nation.
Ms Currie said they marked “key and exciting” openings, and added the company has launched another two new Tasty cafes in Primark stores, including in Bristol, to attract customers “on the go”. The group is currently choosing a location to trial a 24-hour drive thru, she added.
Greggs cautioned that the macroeconomic backdrop remains “challenging” with ongoing cost inflation and household incomes under pressure. But the chain said it is confident its “outstanding value proposition continues to be compelling”.
There are no current plans to raise the prices of its products, Ms Currie confirmed. The national average price of its popular sausage roll is currently £1.20, having cost £1 at the start of 2022.
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