Greggs has confirmed plans to grow its shop estate from 2,181 to at least 3,000 by opening 150 shops a year.
The sausage roll seller recently opened sites in Canary Wharf and King’s Cross in London as well as several drive-through sites as it focuses on city locations where rents have fallen during the pandemic.
The update came as Greggs reported the highest sales and biggest profit in its 71-year-history. Sales rose to £1.23bn in the year to January, 51% higher than last year, when it was disrupted by lockdowns and lower footfall, and a 5.3% increase compared to pre-pandemic levels in 2019.
Annual pretax profit increased to £145.6m, compared to the £13.7m loss incurred last year, and higher than the £108.3m recorded in 2019 before the coronavirus crisis.
