The food-to-go and coffee chain has credited non-traditional store locations, longer opening hours, digital growth and a broader menu as driving record annual revenues and profits
The Greggs App is now used in 20% of customer transactions, up from 12.5% in 2023 | Photo credit: Greggs
Greggs has hailed the success of its multi-channel strategy and is on track to achieve a five-year sales growth target, CEO Roisin Currie has said.
The Newcastle upon Tyne-based operator achieved 11% year-on-year sales growth in the 12 months ended 28 December 2024 to exceed £2bn ($2.5bn). Full-year pre-tax profits rose 8% to a record £204m ($259m).
Like-for-like sales across Greggs’ company-operated stores grew 1.7% year-on-year in the first nine weeks of 2025 amid ‘challenging weather conditions’ in January. The food-to-go and coffee chain expects to open 140 net new stores in 2025.
In a press release, the food-to-go and coffee chain credited its increased presence in ‘alternative locations’ away from high streets as driving revenue growth in 2024. The group said nearly half of its 2,618 stores are now located in non-traditional sites, including retail parks, transport hubs and supermarkets, as well as petrol forecourts, universities and hospitals. These locations represented less than 20% of the company’s estate 10 years ago, according to Greggs.
Additionally, digital channel growth and menu development were also highlighted as key contributors to higher sales and consumer appeal last year.
The Greggs App is now used in 20% of customer transactions, up from 12.5% in 2023, while delivery sales increased 31% year-on-year and now represent 6.7% of Greggs sales from company-operated outlets.
Value-focused Greggs said customers placed approximately 10 million orders via Just Eat and Uber Eats in 2024, with average ticket from the delivery platforms more than double the average in-store order.
Greggs, known for its sausage rolls and bakery items and sweet treats, has diversified its menu and extended evening trading hours over the last months to further boost revenues. The food-to-go and coffee chain cited hot fast-food, such as pizzas, chicken goujons and potato wedges, as a key product category in 2024 and has expanded the availability of its barista-prepared iced beverage and ready-to-drink (RTD) coffee ranges to 1,175 stores. Evening trade now represents 9% of company-operates store sales.
“Our people have worked tirelessly to deliver on our strategic ambition to further establish Greggs as a multi-channel food-to-go retailer and I want to acknowledge their efforts. The brand is in better shape than ever, with a material opportunity to continue growing and developing the Greggs estate and plenty of scope to continue to grow in newer dayparts and channels,” Currie said.
In commentary accompanying the release of Greggs’ full-year audited results, Currie said the chain was making good headway on its 2021 pledge to double group sales by 2026 and evolve into a ‘significantly bigger business’. Greggs posted sales of £1.2bn ($1.5bn) in 2021.