Greggs exceeds £2bn sales for the first time

The bakery chain posted a total sales rise of 11.3% for the year ending 28 December, with sales reaching £2bn from £1.8bn for the same period last year, with sales in company-managed shops up 5.5% year on year. 

Pre-tax profits shot up 8.3% from £188.3m last year to £203.9m in 2024, with a record £20.5m to be shared with colleagues through Greggs’ profit-sharing scheme. 

As part of a five-year growth plan, Greggs has targeted more than 3,000 stores in the UK in the longer term, opening its 2,600th shop in November last year – a “significant milestone”, according to the retailer.  

During the period, Greggs opened an average of four new shops every week, debuting a record 226 new shops versus 220 last year, closing 28 shops and relocating a further 53 shops resulting in145 net new shop openings.

When updating on trading in the first nine weeks of 2025, the retailer said in a statement said it had increased like-for-like sales in company managed shops following challenging weather conditions in January, however, this was followed by improved trading in February. 

Greggs chief executive Roisin Currie said: “2024 was another record-breaking year for Greggs; we exceeded £2bn in sales for the first time and opened our 2,600th shop. Our people have worked tirelessly to deliver on our strategic ambition to further establish Greggs as a multi-channel food-to-go retailer and I want to acknowledge their efforts. It is thanks to their hard work, week after week, that we continue to grow, all the while maintaining the great prices, high-quality products, and friendly service that keep our customers coming back, again and again.

“In 2021, we set our sights on doubling sales by 2026 and having a significantly bigger business over the longer term. Three years into this five-year plan, sales are on track and we continue to be confident in the growth opportunity in front of us. The brand is in better shape than ever, with a material opportunity to continue growing and developing the Greggs estate and plenty of scope to continue to grow in newer dayparts and channels.”

”We continue to lay the foundations for this growth opportunity by investing in our manufacturing and logistics capacity. We have commenced building work on two large new sites in the Midlands, a frozen product manufacturing and logistics facility in Derby and a chilled and ambient National Distribution Centre in Kettering, building additional capacity which will allow us to service up to 3,500 shops.”