Greggs targets 160 new restaurants for 2024 | QSR Media
, UK
166 views
Photo from Greggs.

Greggs targets 160 new restaurants for 2024

The brand saw its sales grow by 19.6%.

Greggs has announced that it plans to open 140 to 160 restaurants in 2024 on the back of a 19.6% sales growth in the 52 weeks ended 30 December 2023.

In its fourth quarter trading update, Greggs said it ended 2023 with a cash position of £195m to support its further investment in its shop estate and supply chain capacity.

Greggs said inflationary pressures are reducing and the group anticipates a more stable cost base in the coming year. Wage inflation remains a challenge however Greggs believes this will provide support to consumer incomes

MORE LIKE THIS: Inside Greggs first fine dining concept

"We enter 2024 with plans to continue to invest in our shops and expand supply chain capacity to deliver the growth strategy, supported by our strong balance sheet. Our value-for-money offer and the quality of our freshly prepared food and drink continue to evolve and position us well for further progress in the year ahead,” Roisin Currie, Chief Executive said.

Since 30 December 2023, Greggs has a total of 2,473 shops. 1,970 of those are company-managed shops and 503 are franchised units.

Follow the link for more news on

Join QSR Media community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Pizza Hut Singapore unveils new Sir Melts-a-Lot plushie
The brand is also hosting a 10-minute “cooking” experience with cosplayer Rurusama.
Marketing
New bistro restaurant Belly to open in Kentish Town
The bistro will focus on wood-fired cooking, offering a fusion of Filipino and European flavours.
New concepts

Exclusives

Zarraffa’s Coffee counts on drive-thrus to drive growth
It is either shutting its storefront-only cafes or moving these to become drive-thrus.
Pizza Hut Taiwan taps Gen Z to build hype
It is part of a strategy that ditches traditional marketing in favour of virality.
Ice cream prices leap 13% in January
Uneven menu inflation challenges QSRs as some categories rise faster than others.
Research