Greggs continues to see “compelling opportunities” to build on its presence in travel hubs, which remain a key part of its growth strategy, according to CEO Roisin Currie.
Despite launches in key airports and train stations across the country, the food-to-go retailer remains underrepresented in travel hubs, she added.
Currie was speaking on a press call after Greggs reported like-for-like sales growth of 7.4% in company-managed shops for the first 19 weeks of 2024.
The business recently hit the 2,500-shop milestone, and continues to see potential for beyond 3,000 sites in the long term.
“We’re already in airports like Gatwick, Manchester, Newcastle, and Leeds,” Currie said. “We’re looking to take other such opportunities.
“We also continue to gain market share – that’s a real positive.
“Customers love the fact that their loyalty is rewarded when using our app.”
While consumers continue to shop around for the best value, Greggs’ loyalty scheme has helped make it the brand of choice, according to Currie. The number of transactions through the app has continued to grow.
She further revealed that the majority of cost inflation this year – expected to be in the range of 4-5% - will come from the increase in wages. While food inflation has somewhat eased and consumer confidence looks to be on the rise, Currie warned that prices will increase – to an extent.
“That continues to be the biggest cost pressure for us,” she added. “We’re making sure we’re still offering great value to customers.
“We’re still not in a deflationary environment. So costs are still being passed on, but not in the degree they were before.”
When asked about the wider trading environment in the UK, Currie noted that Greggs will mark its 40th year on the London Stock Exchange this year.
“We’re happy with how we’re delivering. There’s still lots of demand for Greggs shares.
“In a nutshell, we’re happy with London – we’re 40 years in, so we’re in for the long term.”
Greggs continues to have a “small team” exploring opportunities to make an overseas launch in the future, she added. It is yet to identify specific markets.
However, the UK is the number one focus, according to Currie.
