Greggs boss Roisin Currie hailed “another year of good progress” as the food-to-go chain saw sales surpass £2bn during 2024.
However, the retailer warned that it will raise prices further this year to offset rising employment costs.
Total sales for the chain jumped 11.3% to £2bn in the 52 weeks to 28 December, boosted by a 7.7% uptick during the fourth quarter.
Greggs reported its seasonal lines were in high demand as consumers snapped up their festive bakes, but that subdued high street footfall contributed to a 2.5% increase in like-for-like sales in company-managed shops.
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During the year, the business continued with its expansion plans as it opened 226 new shops, and shuttered 81, taking its store estate to 2,618 shops.
It expects to open between 140 and 150 net new shops this year, including 50 targeted relocations.
CEO Roisin Currie said: “2024 was another year of good progress by Greggs, with a record number of new shops opened and the £2 billion sales milestone surpassed.
“We enter 2025 with a strong pipeline of new shop opportunities, and we continue to broaden our menu and enhance our digital capabilities, whilst also developing our supply chain capacity to deliver our growth strategy.
“Whilst lower consumer confidence continues to impact High Street footfall and expenditure, our value-for-money offer and the quality of our freshly-prepared food and drink position us well to meet the headwinds we expect to see in the year ahead, and we remain confident in the significant long-term opportunity for growth.”
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