The boss of Greggs says there is reason to be ‘more optimistic’ about the coming years as the economy recovers from the shocks of Covid and runaway inflation.
As the High Street baker posted bumper Christmas trading figures, chief executive Roisin Currie struck an optimistic note and set out her plans to open more stores.
She said: ‘I think we should be more optimistic about what the next couple of years will bring.’
The comments came as products such as festive bakes and chocolate orange muffins flew off the shelves.
Sales in its shops were 9.4 per cent higher over the 13 weeks to December 30 than a year earlier as the business cashed in on better weather and fewer train strikes.
Hot cakes: Greggs chief exec Roisin Currie (pictured) has seen sales soar over the past year as the business cashed in on better weather and fewer train strikes
Total sales for the 2023 financial year reached £1.8billion – a 20 per cent increase on the £1.5billion the year before.
In another sign that pressure is easing on consumers, Currie said that there were ‘no plans’ to hike prices further this year.
And the chief executive said that rising wages was ‘good news as it puts more money into consumers’ pockets’.
Greggs is set to open between 140 and 160 shops in 2024, with a focus on locations where it does not have a strong presence, such as industrial areas, roadsides, supermarkets, travel hubs and retail parks.
Currie, who has run the firm since May 2022, reiterated her vision for ‘significantly more than 3,000 shops’.
It opened a record 220 last year and on December 30 had 2,473. Shares rose 4.2 per cent, or 128p, to 2602p.
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