Greggs expects net store openings to be “in the 90-100 range” in the year ahead, after boosting its earnings forecast.
The bakery chain opened 149 new shops, including 62 franchised units, and closed 50 during the 52 weeks to 29 December 2018.
It had 1,953 shops trading as at 29 December, 262 of which were franchised shops operated by partners in travel and other convenience locations.
Company-managed, like-for-like sales at its shops grew by 2.9%, while total sales increased by 7.2%. During its fourth quarter, which includes Christmas trading, the firm posted year-on-year sales growth of 5.2%.
Full-year underlying profit before tax is expected to reach at least £88m, slightly ahead of previous guidance.
Chief executive Roger Whiteside said: “We delivered a very strong finish to 2018 despite the well-publicised challenges in the consumer sector. This performance was broad-based, reflecting the strength of our range of freshly-prepared food and drinks, and the strategic changes that we have made in recent years to focus more effectively on the food-on-the-go market.
“In the year ahead, we will continue to innovate with products designed to reflect changing consumer tastes, and by opening in new locations that make Greggs even more accessible to customers. The investments that we are making in our supply chain will allow us to deliver the outstanding value and quality that Greggs is famous for across a growing shop estate.”
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