​Greggs working on overseas trial as UK sales surge

​Greggs working on overseas trial as UK sales surge

Posted by Emily on 17th Oct 2023

The announcement came from Roisin Currie as the company, renowned for its array of sausage rolls, steak bakes, vegan options, and desserts, enjoyed a 14.2% surge in comparable sales in its company-managed outlets over the thirteen weeks leading up to 30 September. Overall sales rose nearly 21% against the same timeframe the previous year. This success has been attributed to a strong demand for affordable items, a boon in these times of persistent economic strain for many consumers.

Greggs New Shop Front N3ws0fa, CC BY-SA 4.0, via Wikimedia Commons

The company also assured that there would be no additional price hikes before Christmas, as the general cost structure is showing signs of stabilising. Speaking to Reuters, Ms. Currie described the notion of taking Greggs international once more as an "active project."

"A dedicated team of three is currently looking into this," she confirmed.

Extensive studies are being conducted on potential markets, customer engagement strategies, demographic targeting, and locales where Greggs' presence might flourish.

"Once we've established confidence in a suitable market, we will offer further information," she added, though she refrained from specifying any target countries. Greggs previously withdrew from a non-profitable venture in Belgium, consisting of 10 outlets, back in 2008.

As per Reuters, Ms. Currie asserted there was no urgency in steering Greggs towards international waters again, citing ample room for domestic growth. The chain boasts 2,410 outlets at present and has ambitions to expand well beyond 3,000. In the previous quarter alone, Greggs successfully launched an additional 82 stores.

Greggs IMG 6701 Conscoreg, CC BY-SA 4.0, via Wikimedia Commons

In spite of the robust sales trajectory, Greggs has kept its financial forecasts for sales and profits for the entire fiscal year unchanged.

Article Image Source:Mtaylor848, CC BY-SA 4.0, via Wikimedia Commons