Greggs passes £2bn sales mark after ‘record-breaking’ year

Greggs has reported record-breaking results for 2024, with annual sales surpassing £2bn for the first time as the bakery chain continues to expand its store footprint and digital offering.

In the 52 weeks to 28 December, total sales rose 11.3% to £2.014bn, while like-for-like sales in company-managed shops increased by 5.5%.

Underlying pre-tax profit climbed 13.2% to £189.8m, while total pre-tax profit, including exceptional items, was up 8.3% at £203.9m

Greggs said its evening trade remains its fastest-growing segment, now accounting for 9% of sales in company-managed shops, up from 8.5% in 2023. Delivery sales also saw strong growth, rising 30.9% year-on-year, with 1,556 stores now offering the service.

The sausage roll maker said it continued its store expansion beyond traditional high street locations, opening a record 226 new shops in 2024 while closing 28, bringing its total estate to 2,618 stores.

It is now targeting 140 to 150 net new openings in 2025, with a long-term goal of exceeding 3,000 UK shops.

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Greggs has also been investing in its supply chain, with a new production line in Newcastle and expanded logistics capacity in Birmingham and Amesbury. Further plans include a frozen manufacturing and logistics site in Derby set to open in 2026, and a national distribution centre in Kettering in 2027.

CEO Roisin Currie said: “2024 was another record-breaking year for Greggs; we exceeded £2bn in sales for the first time and opened our 2,600^th 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.”

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