Newcastle bakery chain Greggs says the cost-of-living squeeze is drawing customers to its value meals, sending sales a whopping 27% higher.
The steak bake maker has posted half year figures for the first half of the year in which sales rose to £694.5m, compared with £546.2m a year earlier. But half-year profits remained largely flat year-on-year at £55.8m, because of the re-introduction of business rates, an increase in VAT and higher levels of cost inflation.
With soaring inflation putting a strain on people's incomes, consumers are more likely to turn to lower-cost food and drink while on the go, Greggs said. The chain, which has more than 2,200 shops in the UK, said it plans to extend its opening hours, shake up its menu options and offer more delivery services in order to gain more evening sales.
